The Financial Services Institute, an industry group of independent advisors and broker-dealers, said Tuesday that Cetera Financial Group President Adam Antoniades is now vice chairman of its board of directors. Antoniades is set to become chairman of the organization next year.
In addition, Ladenburg Thalmann (LTS) President & CEO Richard Lampen has been named board chairman of FSI’s political action committee. Antoniades was the group’s PAC board chairman earlier this year, before his election as vice chairman.
“Our board of directors is strong and diverse, with small, medium and large firms all represented,” said FSI President & CEO Dale Brown, in a press release. “The board’s strength is reflective of the overall strength of our organization.
Antoniades, who also is CEO of First Allied Holdings, was tapped to lead Cetera Financial Group in May, when Nicholas Schorsch and RCS Capital Corp. (RCAP) reshuffled the leadership of Cetera’s advice platform and its roughly 9,000 independent reps.
(RCAP’s IBD business includes First Allied Securities, four Cetera Financial Group broker-dealers, Investors Capital, Summit Brokerage Services and J.P. Turner & Co. Larry Roth is the group’s CEO.)
“Adam has proven himself a leader and dedicated servant to our members during his extensive time on the Board,” Brown explained. “He will make an effective and passionate vice chair this year and chair in 2015.”
In June, First Allied rolled out a practice management tool at its national conference in San Diego.
“The last six months have been somewhat liberating in that we can support these plans with increased investment since RCS Capital closed its acquisition,” Antoniades said at the time.
As CEO of Ladenburg Thalmann, Lampen works closely with its broker-dealers, including Securities America, Triad Advisors and Investacorp.
On Friday, the company said it acquired Highland Capital Brokerage, an independent insurance brokerage company that delivers life insurance, annuities and long-term care solutions to investment and insurance providers, for about $42 million.
“This acquisition marks an important step in our expansion into this higher-margin, attractive wholesale distribution channel,” Lampen said in a statement.
Check out First Allied Launching More Platforms Thanks to RCAP, Schorsch on ThinkAdvisor.