Cetera Announces CEO Adam Antoniades to Retire at Year-End 2024, Will Remain on Board of Directors
Antoniades' success builds critically strong foundation for Cetera's next chapter of growth
SAN DIEGO, Nov. 7, 2024 /PRNewswire/ -- Cetera Holdings, the parent company of Cetera Financial Group (collectively, Cetera), the premier financial advisor Wealth Hub, announced today that Adam Antoniades will retire from his position as CEO at Cetera Financial Group, effective December 31, 2024. Antoniades will continue to contribute to Cetera's success as a member of the Cetera Board of Directors, focusing on working with Cetera's most mature practices to develop strategic growth plans.
Under Antoniades' leadership as CEO, Cetera has grown significantly. From 2019 to 2024, Cetera will have acquired nine companies, boosted AUM by 200%(1) and increased total revenue by almost $2.8 billion,(2) representing just under 20% CAGR(3).
The company has enhanced its advisor offering to include proprietary platforms like AdviceWorks and Growth 360, better serving advisors and becoming a magnet for advisors looking for the industry's best growth resources, tools and support for business success.
With Antoniades' retirement, Mike Durbin, CEO of Cetera Holdings, will assume the role of CEO for both Cetera Holdings and Cetera Financial Group, overseeing the company's ongoing growth and strategic direction.
"There are many chapters in every exceptional organization. I am proud to have served as both a turnaround and expansion CEO, guiding the company through crucial phases of growth and transformation. Mike is a proven leader who will guide the next chapter, driving the company forward into even greater opportunities for accelerated growth and success," Antoniades said.
Antoniades, who has dedicated 35 years to the financial services industry, has spent the past year working closely with leadership to plan the timing of his transition. Reflecting on his distinguished career, Antoniades shared, "These 35 years have been incredibly rewarding. I wouldn't change any of it. However, now is the right time to focus on a different part of my life, especially my family and friends. I am incredibly proud of what we've accomplished at Cetera, and I look forward to the company's continued success. Cetera is in its strongest position yet, thanks to our partnership with Genstar and the talented leadership team. The best is yet to come."
The company plans to celebrate Adam Antoniades' contributions and legacy over the coming months, honoring his impact on Cetera and the industry.
About Cetera
Cetera Financial Group, which is owned by Cetera Holdings (collectively Cetera), is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.
Home to approximately 12,000 financial professionals and their teams, Cetera oversees more than $521 billion in assets under administration and $224 billion in assets under management, as of June 30, 2024. In a recent advisor satisfaction survey of nearly 35,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.
Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, X, and Facebook.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, a registered investment adviser, and the following FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
- Assets Under Management (AUM) from Jan. 1, 2019 to Dec. 31, 2024 est.
- Total Revenue from Jan. 1, 2019 to Dec. 31, 2024 est.
- CAGR change from Jan. 1, 2019 to Dec. 31, 2024 est.
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SOURCE Cetera Financial Group
