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.
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