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    Cetera Names Head of Corporate Development From Avantax - San Diego, United States - Incline Wealth

    Incline Wealth
    Incline Wealth San Diego, United States

    3 weeks ago

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    Cetera Names Head of Corporate Development From Avantax


    Before joining Avantax, acquired by Cetera last year, Michael Molnar spent time as a strategy consultant, equity analyst, successful investor, CPA and dealmaker.

    Cetera Financial Group, a network of RIAs and independent broker/dealers overseeing some $665 billion in cumulative client assets, has pulled a new head of corporate development from Avantax, the $84 billion, tax-focused wealth management firmit bought last year .

    Michael Molnar spent four years leading succession planning for Avantax's independent broker/dealer platform and M&A for its employee-model RIA.

    Prior to that, he had stints asa buy-side investor, investment banker, sell-side equity analyst, strategy consultant and a certified public accountant.

    Molnar's resume includes time at Goldman Sachs, Accentureand Arthur Andersen.
    At Avantax, Molnar orchestrated more than 20 acquisitionsthat nearly doubled the size of the RIA. He will now lead corporate development and an M&A team focused on acquisitions and succession solutions for Cetera's network.

    ReplacingKen Bond, who has held the position since January 2021, Molnar is based in New York City and will work with CFOJeffrey Buchheisterand Cetera Holdings CEOMike Durbin.

    "We're grateful for Ken's contributions, many of which supported Cetera's record-setting growth in 2023," Buchheister said in a statement. "We wish him well as he rejoins the insurance industry where he spent much of his career before Cetera."

    Buchheister said Molnar's previous experience made him the "natural choice" and called the move "an early success of our Avantax integration.

    "

    Backed by Genstar Capital, which reinvested in the fall , San Diego-based Cetera Financial Group is owned by Cetera Holding and reports advising on more than $475 billion in client assets, with $190 billion more under management.

    The firm has been working to consolidate

    its RIA platforms and broker/dealers in recent years.

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