Cetera Monetary Group has named Todd Mackay president of Cetera Wealth Administration, efficient Jan. 1.
Mackay, who was named president of Cetera Options in August after becoming a member of the agency as president of Avantax, the tax-focused wealth administration agency acquired by Cetera Holdings late final 12 months, will proceed to report back to CEO Mike Durbin.
He will likely be chargeable for Cetera’s natural development methods throughout its advisor channels and can proceed to develop the agency’s services and products, the position held by Tom Taylor, who’s retiring on the finish of the 12 months and has been within the trade because the early Nineteen Nineties.
The agency has additionally employed Christian Mitchell, an govt vp and chief digital and knowledge officer at Northwestern Mutual, to take over Mackay’s duties. He’ll take part January and also will report back to Durbin.
WealthManagement.com was the first to report in January that Cetera had employed Heidrick & Struggles, the chief search and administration consulting firm, to conduct a seek for a president of Cetera Options.
In November, Cetera confirmed that Adam Antoniades, who has served as CEO of Cetera Monetary Group since December 2019, would depart on the finish of this 12 months, with Durbin assuming his place. WealthManagement.com was the first to report that Antoniades was to depart the corporate. Sources stated on the time that former Constancy govt Durbin would take management of the agency after a recapitalization with personal fairness proprietor Genstar.
Cetera has grown to about 12,000 advisors, greater than $545 billion in belongings beneath administration and $235 billion in belongings beneath administration as of Sept. 30, 2024.