The wealth hub, as it styles itself, is getting a new CEO as the person holding the post for more than a decade prepares to retire from the role at the end of 2024.

The CEO of Cetera Financial Group, aka Cetera, Adam Antoniades, is standing down at the end of this year, rounding out more than three decades at the firm and its affiliated organizations. He has been in the post for over 10 years.

Antoniades will continue to serve on Cetera’s board of directors. Mike Durbin, CEO of Cetera Holdings – the parent organization – will retain that role and become chief executive of Cetera Financial Group.

The outgoing CEO has been in post in a period that, for example, from 2019 to this year, saw it buy nine companies and triple its assets under management, with revenue rising by $2.8 billion, or a compound annual growth rate of just under 20 per cent, Cetera said.

“I am proud to have served as both a turnaround and expansion CEO, guiding the company through crucial phases of growth and transformation. Mike is a proven leader who will guide the next chapter, driving the company forward into even greater opportunities for accelerated growth and success," Antoniades said.

Cetera oversees more than $224 billion in assets under management and is home for more than 12,000 financials and their teams.

In February this year, Cetera said it partnered with Wealth Access, a customer data insights platform. The pact enables advisors and financial institutions to paint accurate pictures of clients’ financial lives.