April 25, 2024

Cetera Names Michael Molnar Head of Corporate Development

Press Room Cetera Names Michael Molnar Head of Corporate Development

A Wall Street veteran, Molnar spent the past four years with Avantax, Inc., the tax-focused wealth management firm acquired by Cetera last year

SAN DIEGO, April 25, 2024 /PRNewswire/ -- Cetera Financial Group (Cetera), the premier financial advisor Wealth Hub, has named Michael Molnar its Head of Corporate Development. Molnar, a Wall Street veteran who has been a buy-side investor, an investment banker and a sell-side analyst, previously led corporate development, M&A and succession planning for Avantax, Inc., acquired by Cetera Holdings in November 2023.

During his Avantax tenure, Molnar orchestrated more than 20 acquisitions that helped nearly double the size of Avantax's employee-based RIA. Molnar will lead corporate development for the combined Cetera-Avantax organization, overseeing the M&A team focused on acquisitions and succession solutions.

Molnar replaces Ken Bond and will now lead the combined corporate development organization while working closely with Cetera Financial Group CFO Jeffrey Buchheister and Cetera Holdings CEO Mike Durbin.

"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," said Buchheister. "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®."

In his new role, Molnar will immediately engage to further Cetera's inorganic growth strategy while helping ensure that Cetera remains an attractive option for advisors wanting a strong financial partner with whom they can execute on their growth and succession plans.

"I couldn't be happier to build on Cetera's momentum by blending in the success we've had at Avantax," Molnar said. "Cetera has multiple opportunities for growth and I look forward to working closely with Cetera's leadership, board and our strategic partners at Genstar Capital to help Cetera realize its full potential."

Molnar lives in New York City where he spent most of his career, leading and consulting with a variety of financial services firms. He joined Avantax in 2020 and in his new role will also continue to lead the M&A team focused on acquisitions and succession solutions for Avantax Wealth Management.

Prior to Avantax, Molnar was a buy-side investor, investment banker, sell-side equity analyst, strategy consultant and a CPA in public accounting. He has worked at firms such as Goldman Sachs, Accenture, and Arthur Andersen. Molnar holds an MBA in finance from The University of Chicago, an MS in decision science from The London School of Economics, and a BS in accounting from Rutgers University. He is a Chartered Financial Analyst® (CFA®) and previously earned his CPA and CMA, though now inactive.

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 more than 12,000 financial professionals and their teams, Cetera oversees more than $475 billion in assets under administration and $190 billion in assets under management, as of December 31, 2023. In a recent advisor satisfaction survey of more than 32,000 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 LinkedInYouTubeTwitter and Facebook.

"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, 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.

About Avantax®
Avantax, Inc. (Avantax), a unique community within Cetera Holdings, delivers tax-intelligent wealth management solutions for financial professionals, tax professionals and CPA firms, supporting its goal of minimizing clients' tax burdens through comprehensive tax-intelligent financial planning. Avantax has two distinct, but related, models within its business: the independent Financial Professional model and the employee-based model. Avantax refers to its independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management (AWM) works with a nationwide network of Financial Professionals operating as independent contractors and offers its services through its registered broker-dealer, Avantax Investment Services, Inc., Member FINRA, SIPC, registered investment advisor (RIA), Avantax Advisory Services, Inc., and insurance agency subsidiaries. We refer to our employee-based model as Avantax Planning Partners℠. Avantax Planning Partners offers services through its RIA, insurance agency, and affiliated broker-dealer, Avantax Investment Services, Inc., and partners with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, Avantax had $92.8 billion in total client assets as of December 31, 2023. For additional information, please visit www.avantax.com.

SOURCE Cetera Financial Group