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.
With targeted "comfort calls" and strategically automated follow-ups, advisors who leverage their CRM systems effectively can show up when clients need them most.
The plan could offer $24,000 in relief for some taxpayers, but experts warn of consequences.
"I've seen lots of denial in this business but this GPB thing take the cake," says one industry executive.
Commentary from state-owned publication blasts sale to investor consortium as "spineless groveling," denting Hong Kong-based firm's stock.
Higher interest rates and a strong US dollar, which traditionally act as headwinds, haven't deterred market-stung investors from seeking refuge in the yellow metal.
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies