Blucora Tag

Adam Antoniades Likely to Step Down as Cetera CEO by Year-End

19:39 16 June in In the News by rafferty

June 14, 2023 By Diana Britton, WealthManagement.com Several industry observers close to Cetera say the timeline is set and former Fidelity executive Mike Durbin, CEO of the holding company, will take control of the firm after an upcoming recapitalization with private equity owner Genstar. In May, Cetera Holdings, the holding company of Cetera Financial Group, announced it had appointed former Fidelity Institutional executive Mike Durbin as its new CEO, with Adam Antoniades continuing his current role as CEO of Cetera Financial Group. But several sources close to the company say the decision has been made and Antoniades will likely step down from that role in the next six to nine months. Durbin will lead the broker/dealer network. The interim period is a stewardship period for Durbin and Antoniades and an opportunity for Durbin to wrap his arms around the...

Texas Trio Launches RIA With ‘Precedent’-Setting Profit-Sharing Program

13:41 28 April in In the News by rafferty

April 26, 2023 By Ali Hibbs, WealthManagement.com Firm namesakes have left Linscomb & Williams to start an 'aspirational RIA that shares profits with clients.   Brothers Harold Williams and George Williams, along with Harold’s son Grant Williams, announced the launch of their new registered independent advisory firm on the Dynasty Financial Partners platform on Wednesday. The five-person team previously managed more than $1 billion in assets at Linscomb & Williams, a $4.3 billion AUM Houston-based wealth management firm where Harold was chairman and George was serving as executive vice president. Both were with the firm from the beginning, while Grant Williams joined as a business development manager almost five years ago. President Phillip Hamman took over as CEO from Harold Williams last August, said a spokesperson, and G. Walter Christopherson has been named the firm’s new vice...

Boston B/D Cantella Shutters, Joins Cambridge as Super OSJ

13:21 28 April in In the News by rafferty

April 26, 2023 By Diana Britton, WealthManagement.com Cantella recently shuttered its 65-year-old broker/dealer; its 105 advisors, and some $5 billion in assets, have moved to Cambridge. Longtime Boston-based independent broker/dealer Cantella & Co. has withdrawn its broker/dealer and RIA registrations and converted into a super office of supervisory jurisdiction (OSJ) with Cambridge Investment Research. Cambridge brought over 105 Cantella advisors in December 2022, representing approximately $5 billion in assets under management. The Cantella brand and leadership team, which includes CEO and CIO Jay Lanstein, President and Chief Revenue Officer Jennie Devlin, CFO and Director of Trading Bill McEvoy, and Chief Risk Officer and CCO Sheelagh Howett, remain—only now with a Cambridge broker/dealer affiliation and under its corporate RIA. Jeff Vivacqua, president of growth and development at Cambridge, said Cantella made the move because the firm's executives didn’t...