Cetera is sharpening its focus on growth and succession as it appoints a seasoned M&A veteran to its leadership.
The RIA giant announced Thursday that it has appointed Michael Molnar as its new head of corporate development.
Molnar brings a wealth of experience from Wall Street, having served in roles that span buy-side investor, investment banker, and sell-side analyst. His appointment follows his successful tenure at Avantax Inc., which was acquired by Cetera in late 2023.
At Avantax, Molnar led more than 20 acquisitions, substantially growing the company’s employee-based RIA operations. He will now oversee corporate development for the combined entities of Cetera and Avantax, focusing on M&As and succession planning.
Molnar steps into the role previously held by Ken Bond, who is returning to the insurance industry.
“We’re grateful for Ken's contributions, many of which supported Cetera's record-setting growth in 2023. We wish him well as he rejoins the insurance industry where he spent much of his career before Cetera,” CFO Jeffrey Buchheister said in a statement.
Buchheister also expressed enthusiasm for Molnar’s appointment: “Looking ahead, we're excited to have Michael in this important role, and view this rapid transition as an early success of our Avantax integration. He was a natural choice for Cetera leadership based on his experience and the role he played in growing Avantax.”
“I couldn't be happier to build on Cetera's momentum by blending in the success we've had at Avantax,” said Molnar, who’ll be working in close collaboration with Cetera's leadership, its board, and strategic partners at Genstar Capital.
A New York City resident, Molnar previously held significant roles at notable firms including Goldman Sachs, Accenture, and Arthur Andersen.
He joined Avantax in 2020 and will continue to lead the M&A team in his new role, aiming to sustain and build upon the success of Avantax Wealth Management’s acquisition and succession strategies.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Survey finds AI widely embedded in research and analysis, but barely touching portfolio construction or trade execution.
Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
