Cetera goes more RIA-ish by hiring Durbin from Fidelity
Michael Durbin, CEO of Cetera Holdings
It's in the best interest of Cetera's owner, Genstar Capital, to make the broker-dealer network look as much like a registered investment advisor as possible.
The hiring of Fidelity Investments senior executive Michael Durbin by Cetera Holdings, the parent company to the giant broker-dealer and registered investment advisor network Cetera Financial Group, shows, yet again, that the independent broker-dealer industry wants to be perceived more as RIAs and
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