Cetera Financial Group announced strategic leadership changes that it said are “aimed at enhancing growth and advancing its adviser-centric platform” for financial professionals and their clients.
Todd Mackay has been appointed president of Cetera Wealth Management, succeeding Tom Taylor, who will retire at the end of the year. In this role, Mackay will drive organic growth strategies across all of Cetera’s channels and communities while continuously advocating for and innovating on the products and services needed in order to meet the evolving needs of advisers and their clients. Effective Jan. 1, 2025, Mackay will continue reporting to Mike Durbin and serving on Cetera’s executive leadership team.
Additionally, Christian Mitchell will join Cetera as president of Cetera Solutions. A former executive at Northwestern Mutual who started his career there in 2006, Mitchell will lead strategic growth initiatives focused on enhancing digital products, platforms, and investment solutions to deliver superior adviser and client experiences. Mitchell will join Cetera later in January as a member of Cetera’s executive leadership team, reporting to Mike Durbin.
Home to approximately 12,000 financial professionals and their teams, Cetera oversees more than $545 billion in assets under administration and $235 billion in assets under management, as of Sept. 30, 2024.
“At Cetera, we are committed to equipping our advisers with the best tools, technology, and support systems to help them thrive,” said Mike Durbin, chief executive officer of Cetera. “Todd Mackay and Christian Mitchell are exceptional leaders whose expertise and vision will drive our Wealth Hub’s evolution and strengthen our ability to meet advisers’ dynamic needs.”
Mackay expressed his enthusiasm for the new role, stating, “I am honored to lead Cetera Wealth Management and advance our mission of enabling advisers to build thriving businesses through our unique Wealth Hub model. Our Channels and Communities are at the heart of what makes Cetera unique. I am passionate about strengthening our value proposition while continuing to make the big feel small by fostering deep, personalized relationships across our adviser network.”
Mitchell added, “Joining Cetera is a tremendous opportunity to build on a foundation of success driven by a talented leadership team. I am excited to shape innovative solutions that empower advisers and elevate the client experience.”
According to the company, these leadership appointments reinforce Cetera’s long-term strategic vision centered on growth, innovation, and industry leadership and with a focus on operational excellence and technological advancement.
Earlier this month, Cetera Financial Group announced that Citadel Credit Union entered into a networking agreement with Cetera Financial Institutions to support and grow its investment services program. Serving more than 260,000 members, Citadel Credit Union is one of the largest locally owned financial institutions in the Greater Philadelphia area. Also in December, Wisconsin-based, $465 million First Citizens State Bank entered into a network agreement with Cetera Financial Institutions to support and grow its investment program called First Citizens Investment Services.
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