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.
Trevor Uhls was charged with wire fraud and money laundering in a criminal complaint filed in U.S. District Court for the Western District of Missouri.
The multigenerational Cedar Rapids firm is joining through a key OSJ as recruiting competition heats up across the wealth space.
New Treasury guidance sets fee caps, defines index-tracking rules, and bars ESG-linked funds from the tax-deferred accounts for minors
Yari Capital's move to Carson continues a run of additions for the $62 billion firm, days after it hired a veteran recruiter from Osaic.
Servo Wealth Management's $210 million book brings the Minneapolis consolidator's total client assets further past $160 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
