Cetera is launching a new channel to help manage its independent and employee-based RIA operations for its advisors who opt for either the W-2 or supported independence route.
Jen Hanau will join Cetera to lead the channel from Mariner Wealth, where she was the firm’s national managing director for its independent channels (with previous stints at Fidelity and Charles Schwab).
Hanau said she was “honored” to lead the channel and “build a platform prioritizing clients’ best interests.”
“Cetera’s commitment to innovation and advisor support aligns perfectly with my passion for empowering advisors to achieve their professional goals while delivering exceptional service to their clients,” she said.
Cetera’s newly established RIA and Branches Channel will manage the firm’s indie RIA services, W-2 employee-based model and support independent businesses, attempting to afford reps more flexibility when choosing their preferences.
The channel includes more than 600 advisors overseeing about $33.5 billion in total client assets as of last March. The new channel will consist of Avantax Planning Partners (Cetera’s tax-focused, hybrid W-2 model), Cetera Investors (which allows more than 40 branch offices independence, with infrastructure, compliance and operational support).
Additionally, the new channel includes Cetera Blueprint, which supports advisors in owning their RIA with the help of an experienced partner, and the Retirement Planning Group, a fee-only W-2 RIA approach.
Cetera Wealth Management President Todd Mackay praised Hanau’s “extensive experience and visionary leadership,” calling her “the ideal choice” to lead the new channel. In her new role, Hanau will be tasked with developing sales strategies and driving business growth.
“The launch of our RIA and Branches Channel marks a significant milestone in Cetera’s evolution, underscoring our commitment to meeting the diverse needs of advisors and clients,” Mackay said.
Cetera includes multiple channels with about 12,000 advisors and institutions, managing about $554 billion in assets under administration (with $246 billion in managed assets). The RIA and Branches Channel will become one of several existing channels within Cetera, including Advisor, Institutions, Large Enterprise and Tax & Accounting.
Last month, Cetera announced that Adina Anderson would join the firm as managing director and head of RIA Blueprint and oversee the firm’s quickly expanding affiliate segment of RIA firms. Anderson’s previous leadership roles included managing director at Envestnet and chief customer officer with the financial firm Juniper Square.