A new Cetera Financial Group exec is in line to become the FSI's chairman.
Adam Antoniades, the former First Allied CEO who was named Cetera's new president after both broker-dealers were acquired by RCS Capital, has been named vice chairman for FSI's board of directors, effective immediately.
The FSI role had previously been held by Valerie Brown, Cetera's former CEO. As vice chairman, Antoniades is now in line to become chairman next year at the advocacy group, which aims to represent independent financial advisors and independent financial services firms.
Antoniades had previously served as the FSI's political action committee board chair; Ladenburg Thalmann chief executive Richard Lampen now takes over that role.
RCS Executive Chairman Nicholas Schorsch tapped Antoniades as Cetera's president in May, as part of a company makeover in which Brown was replaced by former Advisor Group executive Larry Roth. RCS has been on an acquisition spree lately, buying not only Cetera and First Allied but also Summit Brokerage Services, Investors Capital and J.P. Turner to create the nation's second largest broker-dealer by advisor count.
"I'm proud to be part of an organization that is passionate about ensuring that every American has access to unbiased and affordable financial advice," said Antoniades in a statement. "I encourage all leaders and advisors in our industry to get involved with or support FSI. Their success is critical to the growth and sustainability of the independent space now and in the future."
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