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.
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.
In 2010, Lightyear Capital brought three ING broker-dealers together and introduced the Cetera brand. Those firms were later reintroduced as:
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.
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:
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.
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.
CFG's offerings support independent advice at scale with focused technology, practice support, and institutional programs:
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.
Cetera Financial Group describes a culture focused on turning financial goals into reality. Its four core values are:
CFG says that its workplace focuses on supporting clients' financial goals and backs employees with pay and benefits for life outside work:
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.
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:
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.
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.
While at Fidelity, Durbin oversaw the company’s 2015 acquisition of eMoney Advisor.
According to InvestmentNews data, the top two destinations for advisors leaving Securian this year are LPL Financial and StanCorp Equities.
Meanwhile, over the past decade, the top 25 firms have essentially doubled the amount of revenue they generate.
C&N Wealth Management, a unit of Pennsylvania-based Citizens & Northern Corp., will use LPL’s institutional platform.
Toledo, Ohio-based Financial Design Group has 14 advisors. Over the winter, recruiters had cited LPL as one of the firms likely to target Securian advisors.
If financial advisors don't seek the firm's approval, they risk running afoul of securities regulators, Cetera said.
Rohlik Financial, which is led by Brent Rohlik and Suzanne Holt, has offices in Minneapolis and Rockford, Illinois.
The bank has been a significant destination for wirehouse advisors looking for a smaller firm, but its problems over the past week are likely to limit its recruiting.
The rating agency cites the positive impact of the firm's deal to acquire the wealth management business of Securian Financial Group.
Cetera Advantage(k) GPS is designed for small and midsize businesses and available only through advisors affiliated with Cetera.
Ameriprise jumped into the bank broker market in 2017 when it acquired Investment Professionals Inc.
