Cetera Financial Group (Cetera), the premier financial advisor Wealth Hub, announced that Avantax, Inc. (Avantax) President Todd Mackay has been appointed President of Cetera Solutions. In this role, Mackay will drive end-to-end platform strategy and lead advice delivery across the organization. He will steer the company’s growth across various business lines with oversight for all digital products and investment products and services for Cetera advisors and end-clients. Mackay will serve as a member of Cetera’s executive leadership team.
“Todd is an established and talented leader whose vision will help propel Cetera through its next growth phase in service to our financial professionals and their clients,” said Mike Durbin, CEO of Cetera Holdings. “In his years at Avantax, he has proven his unique ability to connect with the Avantax community and strategically lead the organization through instrumental change. This appointment is yet another example of the ongoing and successful assimilation with Avantax and represents an important win for the entire Cetera organization that positions us extremely well for the future.”
During Mackay’s over 20-year tenure, he led Avantax to record levels of recruited advisors and assets, drove advisory asset flows to the highest levels in the company’s history, created an organic growth engine through various sales enablement programs and platforms, and developed highly successful new-affiliation and succession models through Avantax Planning Partners℠.
Andy Watts, CFP®, will assume Mackay’s former role as Cetera’s Tax Channel Leader, overseeing Avantax and Cetera Financial Specialists with a combined community of more than 4,000 independent Financial Professionals. Ron Krueger will continue in his role as the leader of the Cetera Financial Specialists Community.
“It’s been a true honor leading Avantax, and I’m incredibly proud of the growth and accomplishments the Avantax Community achieved thanks to our amazing Financial Professionals and our devoted Home Office team,” Mackay said. “I will continue working with Avantax in my new Cetera role, which is important to me because I value the many relationships created over the years. Our Avantax and CFS Financial Professionals, accounting firms and Home Office staff are in excellent hands with Andy Watts as their leader.”
Cetera expects no significant changes to the operations of Avantax’s Home Office in Dallas, or Cetera Financial Specialists’ Home Office in Schaumburg, Illinois.
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