Cetera Names Avantax President to Lead Cetera Solutions Arm

Cetera Financial Group appointed Avantax, Inc. president Todd Mackay as president of its Cetera Solutions arm.

Mackay, who joined Cetera in 2023 following its acquisition of Avantax, will be in charge of driving platform strategy and overseeing advise delivery across the firm’s business models. He will be in charge of all digital and investment products and services for Cetera advisors and end-clients, as well as serving on Cetera’s executive 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.

Mackay had led tax-focused Avantax since 2020, when it was owned by its former parent company Blucora.

Andy Watts, VP of planning and growth solutions, will take up Mackay’s role as Cetera’s Tax Channel leader, which involves overseeing more than 4,000 advisors across Avantax and Cetera Financial Specialists. Ron Krueger, president of Cetera Financial Specialists, will continue in that position.

The firm said it expects no significant changes to the operations of Avantax’s Dallas home office or Cetera Financial Specialists’ home office in Schaumburg, Illinois.

Cetera had about 12,000 financial professionals who oversee over $521 billion in assets under administration and $224 billion in assets under management as of the end of June..