Cetera Financial Group® announced that the six firms comprising its network will be organized under its newly-created Traditional and Specialty Channels. The formation of these two channels is expected to accelerate the ability of each network firm to support Cetera’s Advice-Centric Experience for advisors and clients, which envisions a financial advice profession driven by goals-based planning and solutions that help clients achieve more predictable outcomes on their journey to financial well-being. Each network firm’s unique brand, culture, service model and autonomy will continue to be preserved.
Robert Moore, CEO of Cetera, said, “The launch of our Traditional and Specialty Channels is a logical outgrowth of our recruiting and retention success last year, which was driven by enhanced advisor support from increased collaboration among our network firms. This step not only furthers our mission to redefine what it means to deliver financial advice, but also reflects Cetera’s distinctive ability to serve financial advisors under business and affiliation structures that require a specialty set of resources, expertise and support to help fuel their success. With all that we’ve accomplished, it’s an ideal time for us to formalize an organizational approach we’ve already been evolving towards, under our ongoing goal of empowering our network firms to more effectively leverage resources and centers of excellence that exist across firms to directly benefit advisors and clients.”
Key highlights of the launch of the Traditional and Specialty Channels include
- The Traditional Channel, led by Brett Harrison, comprises Cetera Advisors, First Allied Securities and Summit Brokerage Services, recognizing the expertise each of these network firms have in supporting ensemble practices, independent producer groups and smaller or solo practitioner businesses. Summit Brokerage Services will continue to be headed by Marshall Leeds, its CEO.
- The Specialty Channel, led by Tom Taylor, encompasses Cetera Advisor Networks, Cetera Financial Institutions and Cetera Financial Specialists. The Specialty Channel will continue to emphasize Cetera’s unique commitment to serving, supporting and growing large teams of independent advisors, referred to within Cetera as Regional Director-led firms, while also reinforcing its leadership in supporting financial institutions’ wealth management programs and independent financial advisors with professional roots in tax advisory work. Tom Taylor will also continue to serve as CEO and President of Cetera Advisor Networks, while LeAnn Rummel will remain President of Cetera Financial Institutions, and Gregg Ruvoli will continue to serve as President of Cetera Financial Specialists.
Leadership Team Enhancements
In a related move, Cetera also announced enhancements to its leadership team that align with its creation of the Traditional and Specialty Channels, encompassing strategic promotions from within its existing management team, as well as the addition of new senior talent.
These strategic promotions include the appointment of Catherine Bonneau, most recently CEO of Cetera Financial Institutions, to the role of Chief Operating Officer for Cetera Financial Group, as well as the promotion of Tim Stinson to the newly-created position of Cetera’s Head of Wealth Management. Previously, Mr. Stinson served as National Sales Manager, Wealth Management.
Additionally, Cetera has recruited Mimi Bock to serve as President of both Cetera Advisors as well as First Allied Securities. Most recently, Ms. Bock served as Executive Vice President, National Sales & Consulting at LPL Financial, where she directed multiple advisor-facing functions to support the long-term business growth and success of advisor businesses. Prior to joining LPL Financial, Ms. Bock served in a number of senior roles at Morgan Stanley, including Managing Director of Global Wealth Management Marketing.
