Cetera Financial Group

Office address: 655 W. Broadway, 11th Floor, San Diego, CA 92101
Website: cetera.com
Year established: 2010
Company type: financial services
Employees: 11,400+ (2025)
Expertise: independent broker-dealer services, registered investment adviser services, wealth management platforms, retirement plan advice, financial planning, bank and credit union investment programs, tax and advanced planning support
Parent company: Aretec Group, Inc. (dba Cetera Holdings; majority-owned by Genstar Capital)
Key people: Michael Durbin (CEO), Jeffrey Buchheister (CFO), Tom Gooley (COO), Lisa Gok (chief legal officer), Jenifer Kerr (CHRO), Michael Zuna (chief marketing and communications officer), Joseph Neary (chief risk officer)
Financing status: private equity-backed

Cetera Financial Group (CFG) is a wealth management network that supports independent advisors, banks, and credit unions nationwide. It offers broker-dealer and RIA platforms, planning tools, and practice support from its main base in San Diego. The company works with about 11,400 financial professionals and oversees around $640 billion in client assets as of 2025.

History of Cetera Financial Group

CFG traces its story to independent firms launched in the early 1980s. Cetera Advisors and Cetera Financial Specialists started in 1981, followed by Cetera Wealth Services in 1983 and Cetera Investment Services in 1984. These businesses later formed the backbone of a single network built around independent financial advice.

Early roots and formation

In 2010, Lightyear Capital brought three ING broker-dealers together and introduced the Cetera brand. Those firms were later reintroduced as:

1. Cetera Advisor Networks
2. Cetera Advisors
3. Cetera Investment Services

During this period, CFG also added Genworth Financial Investment Services in 2012 and First Allied Securities in 2013. CFG then moved under RCS Capital in 2014 before emerging from RCAP's bankruptcy in 2016 as an independent company under Aretec Group.

Ownership shifts and expansion

Genstar Capital took a majority stake in Cetera and its broker-dealer network in 2018 to support long-term growth. Under Genstar's backing, CFG acquired Foresters Financial's US broker-dealer in 2019. It then added:

• Voya Financial Advisors' independent channel in 2021
• Securian's retail wealth business and Avantax in 2023
• Concourse Financial Group Securities in 2025

As 2025 closed, CFG trimmed costs with another workforce reduction after an earlier 5 percent cut. In that same year, Cetera Financial Institutions expanded its bank channel by adding Peoples Bank and Trust and Alma Bank.

Cetera Financial Group's advice focus

These days, CFG operates as a national wealth hub with affiliated professionals in all 50 states and Puerto Rico. Its four broker-dealers and related RIAs support an Advice-Centric framework that helps advisors show clear value on a client's balance sheet.

Through this structure, Cetera Financial Group links independent advisors, banks, and credit unions under a shared focus on practical, personal financial guidance.

Cetera Financial Group's products and services

CFG's offerings support independent advice at scale with focused technology, practice support, and institutional programs:

Advisor platforms and technology

• Wealth Hub platform: multi-channel support for advisors, tax firms, and institutions
• broker-dealer and RIA platforms: integrated brokerage, advisory, and planning infrastructure
• AdviceWorks: client portal for planning and real-time engagement
• IntelligenceEngine: tools that reveal hidden assets and opportunities
• Advanced Time Segmentation: framework for mapping retirement income needs

Practice growth, onboarding, and succession

• Growth360: diagnostics to identify and unlock growth levers
• GrowthLine: marketing service for campaigns and brand presence
• business development support: guidance on affiliation, recruiting, and office structure
• onboarding and Accesslink: structured transitions from accounts to technology
• Legacy Builder: continuity and succession planning with buyer matching
• Business Consulting Group: coaching on strategy, acquisitions, and efficiency

Planning, compliance, and institutional solutions

• Advanced Planning Team: legal and tax specialists for complex strategies
• compliance support: supervision that helps navigate FINRA, SEC, and state rules
• financial institutions programs: turnkey platforms for banks and credit unions
• Cetera Investors branches: nationwide branches serving retail clients
• client marketing services: localized campaigns and materials for specific markets

Overall, these offerings let advisors and institutions tap a large platform while keeping local control. Cetera Financial Group also stresses flexible affiliation options and broad field support so practices can adapt as they grow.

Culture and corporate values

Cetera Financial Group describes a culture focused on turning financial goals into reality. Its four core values are:

1. do the right thing—always
2. deliver exceptional experiences
3. appreciate people
4. stay agile to innovate and improve

CFG says that its workplace focuses on supporting clients' financial goals and backs employees with pay and benefits for life outside work:

• health and protection plans: medical, dental, vision and life coverage for varied lifestyles
• mental health support: available services for employees and their families
• time away and wellness days: over 20 days PTO, paid holidays and wellness breaks
• retirement savings and guidance: 401(k) plan with up to 5 percent company contribution
• family and parental leave: paid time off for birth, adoption and foster care
• savings accounts and reimbursements: health savings and flexible spending options for care, commuting and childcare
• additional programs: Employee Assistance Program, LifeLock, pet insurance and other protection services

According to Cetera Financial Group, diversity of backgrounds and views is central to better ideas and outcomes. The Cetera Inclusion & Impact Council guides actions to reach underserved investors and build a more inclusive advice profession.

About CEO Michael Durbin and key people

Mike Durbin is CEO of Cetera Financial Group and a member of its board. He previously led Fidelity Institutional at Fidelity Investments. Durbin holds an MBA from NYU Stern and a BBA from Notre Dame.

Durbin is supported by a seasoned leadership team that includes:

• Jeffrey Buchheister serves as CFO, managing finance, accounting, reporting, and capital planning
• Lisa Gok is chief legal officer, leading Cetera Financial Group's legal strategy, litigation, and regulatory matters
• Tom Gooley is COO, running technology, trading, operations, and service delivery
• Jenifer Kerr as CHRO directs talent, culture, diversity, and employee experience
• Michael Zuna is chief marketing and communications officer, heading marketing, brand, communications, and recruiting
• Joseph Neary works as chief risk officer, guiding risk, compliance, and regulatory oversight

Cetera states that its leaders are expected to stay visible and accessible to advisors and institutions. They do this by focusing on growth, risk control, and direct field support.

The future at Cetera Financial Group

In late 2025, CFG recruited Guided Financial Strategies from LPL with about $250 million in assets. The Connecticut practice joined Summit Financial Networks for its service culture and community structure. This hire reflects Cetera Financial Group's broader push to attract experienced advisors who want scale with personal attention.

On the regulatory side, FINRA fined three Cetera Financial Group broker-dealers a combined $1.1 million in January 2026. The penalties tied back to past lapses in low-priced securities supervision and anti-money laundering controls. Cetera called the issues "historical" and said it had already fixed them and strengthened its compliance programs.

The latest Cetera Financial Group news