Larry Roth Tag

Cetera Replaces CEO Roth With Moore as RCS Bankruptcy Woes Fade

14:23 02 September in In the News by rafferty

September 1, 2016 By Janet Levaux, ThinkAdvisor The IBD appears to be replacing a ‘wartime leader’ with a ‘peacetime leader,’ one observer says Less than a week after talk of a possible change at the top, Cetera Financial Group says board Chairman Robert J. Moore will take over as CEO from Larry Roth on Sept. 12. According to Moore, Roth will stay on as a consultant through year-end. Board member Robert Dineen is set to become the acting nonexecutive chairman of Aretec, Cetera’s parent company. “This transition was driven by the board and its assessment of the company’s future … and what it wanted to do that would be best” for the firm, its roughly 9,000 affiliated advisors and their clients, Moore said in an interview with ThinkAdvisor. “They asked me to consider the role in...

Roth Tells Cetera Reps He’ll Bring ‘Clarity’ on Leadership Soon

00:06 31 August in In the News by rafferty

August 30, 2016 By Janet Levaux, ThinkAdvisor The executive sent a memo to the IBD's 9,000 reps on Monday amid intense industry chatter Amid intense industry speculation that he could be pushed out, the head of Cetera Financial Group is telling its 9,000 affiliated industry reps to sit tight. “We have been exploring certain potential future options for our leadership structure as we enter the post-strategic transformation phase of development for our company. We expect to be able to provide clarity on this within a matter of days,” Larry Roth explained in a memo sent to advisors Monday, according to a copy of the memo obtained by ThinkAdvisor from an industry source. “In the meantime, please be assured that changes to our leadership structure — if any — will be driven by the best interests...

Who’s in Charge at Cetera?

15:37 30 August in In the News by rafferty

August 29, 2016 By Janet Levaux, ThinkAdvisor Rumors are rife that CEO Larry Roth may be replaced by Chairman Robert Moore Is CEO Larry Roth still leading Cetera Financial Group’s parent firm and its 9,000 independent reps? Or is Chairman Robert Moore, a former executive with rival LPL Financial (LPLA), running the ship?  Stay tuned, sources say. According to a Cetera spokesperson, “As a matter of policy, we do not publicly discuss speculation or rumors related to our organization." Investors are not happy with low oil prices, and a growing number of them are taking action against their advisors. The news of a possible change at the top was first reported by RIABiz on Friday. The current owners include Fortress Investment Group, Carlyle Investment Management and Eaton Vance Management. Cetera has gone through a long list of transitions...