John Lefferts, who recently stepped down as the head of Cetera Financial Group’s supported independence division, has announced his departure from the role. Lefferts, who joined Cetera less than a year ago, cited a misalignment between his vision for the role and Cetera’s vision as the reason for his decision to move on. He expressed his gratitude for the opportunity to work with a talented team at Cetera and shared his passion for building and scaling high-performing wealth management businesses.
Lefferts took over as head of Cetera Investors in April of last year, bringing with him six years of experience at Equitable Advisors where he served as a managing director and national head of business development. During his time at Cetera, he worked closely with branch managers, advisors, and their firms on operations, technology, and marketing. He led a network of regional growth teams and 40 branch offices, focusing on driving growth and success within the organization.
In a statement, Lefferts mentioned that he would be taking some time off to reflect and explore his next move. He emphasized his interest in opportunities that combine sophisticated advice for high-net-worth clients, advisor development and leadership, and the creation of real, sustainable enterprise value, especially in the evolving landscape of technology and innovation.
This news comes amidst other recent changes within Cetera Financial Group, including the addition of Cunningham Financial Group, a firm near Birmingham, Alabama, with approximately $200 million in assets under administration. Additionally, the company saw the departure of Matt Fries, who left voluntarily after serving as the head of investment products and partner solutions for the last 10 years. Fries has since joined Inland Real Estate Investment Corp. as CEO and president.
In January, Cetera also announced the retirement of Tom Gooley from his position as chief operating officer at the end of the first quarter. The company currently boasts around 12,000 advisors across its various channels, collectively overseeing more than $640 billion in assets under administration and $294 billion in assets under management.
As Cetera continues to navigate these changes and transitions, the company remains focused on providing top-notch services to its clients and advisors while adapting to the evolving landscape of the wealth management industry.
