Cetera Financial Group has named Todd Mackay president of Cetera Wealth Management, effective Jan. 1.
Mackay, who was named president of Cetera Solutions in August after joining the firm as president of Avantax, the tax-focused wealth management firm acquired by Cetera Holdings late last year, will continue to report to CEO Mike Durbin.
He will be responsible for Cetera’s organic growth strategies across its advisor channels and will continue to develop the firm’s products and services, the role held by Tom Taylor, who is retiring at the end of the year and has been in the industry since the early 1990s.
The firm has also hired Christian Mitchell, an executive vice president and chief digital and information officer at Northwestern Mutual, to take over Mackay’s responsibilities. He’ll join in January and will also report to Durbin.
WealthManagement.com was the first to report in January that Cetera had hired Heidrick & Struggles, the executive search and management consulting company, to conduct a search for a president of Cetera Solutions.
In November, Cetera confirmed that Adam Antoniades, who has served as CEO of Cetera Financial Group since December 2019, would depart at the end of this year, with Durbin assuming his position. WealthManagement.com was the first to report that Antoniades was to leave the company. Sources said at the time that former Fidelity executive Durbin would take control of the firm after a recapitalization with private equity owner Genstar.
Cetera has grown to about 12,000 advisors, more than $545 billion in assets under administration and $235 billion in assets under management as of Sept. 30, 2024.
