Leadership changes at Cetera as Taylor prepares for retirement

Leadership changes at Cetera as Taylor prepares for retirement
Firm names wealth management successor and a new hire.
DEC 20, 2024

There will be more than one president taking up a new role in January, with Cetera Financial Group announcing some changes to its leadership in 2025.

Tom Taylor, the firm’s head of sales and chief growth officer since 2020 and CEO of Cetera Advisor Networks for more than three decades, is retiring at the end of the year.

Succeeding him as president of Cetera Wealth Management is Todd Mackay, the former Avantax CEO who was hired as president of Cetera Solutions just a few months ago and will be tasked with driving organic growth across all channels. He takes up his new role from January 1, 2025, and will continue to report to CEO Mike Durbin and serve on Cetera’s executive leadership team.

"I am honored to lead Cetera Wealth Management and advance our mission of enabling advisors to build thriving businesses through our unique Wealth Hub model,” Mackay said. “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 advisor network."

Mackay began his career in 1996 as a financial analyst with Alex. Brown and Sons, which became part of Deutsche Bank, and has worked in several roles at different firms including 12 years as managing director of E*Trade Financial Corporation.

He will be succeeded as president at Cetera Solutions by Christian Mitchell, a former executive at Northwestern Mutual, who will join the firm and its executive leadership team later in January, also reporting to Durbin.

"At Cetera, we are committed to equipping our advisors with the best tools, technology, and support systems to help them thrive," said Mike Durbin. "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 advisors' dynamic needs."

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

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.