Cetera Financial plucks new chief financial officer from LPL Financial

A 13-year veteran of LPL, Jeffrey Buchheister was most recently executive vice president and chief accounting officer.
SEP 14, 2016
Cetera Financial Group has just hired another former LPL Financial executive, this time landing Jeffrey Buchheister as its chief financial officer. A 13-year veteran of LPL, Mr. Buchheister most recently was executive vice president and chief accounting officer for LPL. Prior to joining LPL, Mr. Buchheister was a senior manager at Deloitte. “We're excited to have him come on board. He has more than 22 years in industry,” said Larry Roth, CEO of Cetera Financial. “Jeff knows the independent model very well. He had various jobs at LPL and has the entire tool set. He's also from southern California where Cetera has its headquarters. I don't think we could have done any better.” In May, Cetera Financial's parent company, RCS Capital, emerged from bankruptcy. Cetera then appointed Robert Moore as its chairman. Mr. Moore resigned as president of LPL Financial in March 2015. Cetera Financial Group is home to 10 broker-dealers and 9,000 advisers. Meanwhile, LPL on Wednesday said that Matthew Audette, its chief financial officer, will assume Mr. Buchheister’s responsibilities as LPL’s principal accounting officer.

Latest News

Investing for accountability: How to frame a values-driven conversation with clients
Investing for accountability: How to frame a values-driven conversation with clients

By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.

Advisor moves: Raymond James ends week with $1B Commonwealth recruitment streak
Advisor moves: Raymond James ends week with $1B Commonwealth recruitment streak

JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.

Cook Lawyer says fraud claims are Trump’s ‘weapon of choice’
Cook Lawyer says fraud claims are Trump’s ‘weapon of choice’

Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.

SEC orders Vanguard, Empower to pay more than $25M over failures linked to advisor compensation
SEC orders Vanguard, Empower to pay more than $25M over failures linked to advisor compensation

The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.

RIA moves: Wells Fargo pair joins &Partners in Virginia
RIA moves: Wells Fargo pair joins &Partners in Virginia

Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.