Welcome to Financial Advisor IQ
Follow

Cetera CEO Steps Down for Health Reasons

By Alex Padalka February 20, 2019

Cetera Financial Group’s chief is stepping down due to unspecified health reasons, the company announced yesterday afternoon.

Robert Moore will relinquish his role as CEO effective March 31, but will stay on as an advisor to the company’s board and executive management team, Cetera says in a press release.

Ben Brigeman, currently chairman of the board, will also act as interim CEO while the firm looks for Moore’s permanent replacement, Cetera says. The company has already retained the search firm Heidrick & Struggles to help with the task, according to the press release.

"Recently I have been dealing with a health issue that has continued to require treatment and, on advice of my physician, now warrants that I cut back on my current commitments which is essential to my overall recovery,” Moore says in the press release. “This led to one of the most difficult decisions of my professional career and one that has engendered many mixed emotions. I am truly fortunate to be surrounded by family, friends and colleagues who support me and care about my health. I have full faith in Cetera’s management team, which I believe to be the best in the business, to continue to steer the company to a successful future."

Cetera has been on a growth spurt in recent months, adding more than 800 financial advisors in 2018 who brought over $5.3 billion in asserts under administration.

And according to Brigeman, the company intends to keep up this pace of growth.

“I, and the Board, remain committed to our aggressive growth plans for Cetera,” he says in the press release. “We are confident in the strength of Cetera’s leadership to continue to accelerate growth, while working tirelessly to provide our advisors with world-class technology and services that help them achieve more for their businesses and their clients."