Cetera Financial Group Appoints Robert Dineen as Chairman of the Board
Cetera Financial Group, a network of independent broker-dealer firms, named Robert Dineen non-executive chairman of the board of its parent company, Aretec Group, Inc. Dineen had previously been named acting chairman in September, upon the appointment of Robert Moore as the company’s chief executive officer.
Dineen was first named to the board of directors of Cetera’s parent company entity in June 2016. He most recently served at Lincoln Financial Network as vice chairman and a member of Lincoln Financial Group’s senior management committee. Previously, he headed Lincoln Financial Network, the retail distribution arm of Lincoln Financial Group, and served as chief executive officer of Lincoln Financial Securities Corporation and Lincoln Financial Advisors Corporation. Dineen also serves on the board of Aegon NV, a Dutch life insurance, pensions and asset management company.
“I am delighted with the appointment of Bob Dineen as our permanent chairman of the board,” said CEO Moore. “Bob’s insights are invaluable in their impact and influence on our stated intention to help redefine the future of advice and assume our rightful position as a known innovator and thought leader. Equally important, I am very pleased that Bob shares our dedication to promoting best practices in corporate governance in our space, including through the separation the CEO and chairman roles of our company.”
Moore took Larry Roth’s place as CEO of Cetera following the pre-planned bankruptcy of its former parent company, RCS Capital Corp, which concluded earlier this year. RCAP’s bankruptcy was tied to a 2014 accounting scandal at an affiliated firm, and with Roth’s departure, Cetera has no remaining ties to the legacy company.
Cetera Financial Group is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions. The Cetera broker-dealer network includes Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities and Summit Brokerage Services.
