Barnaby Grist will join the newly minted Cetera Financial Group as executive vice president, wealth management, effective Wednesday.
Grist, formerly senior managing director, strategic business development, at Charles Schwab Advisor Services, led that firm’s program to help advisors go independent.
Grist will report to Valerie Brown, Cetera's chief executive officer. Brown said in an interview last week that the group plans to focus on hybrid products, allowing clients to choose whether they want to pay fees or commissions. Grist will lead this initiative.
Cetera consists of three broker-dealers: Financial Network, which serves regional directors, or producing managers who run teams of independent advisors; Multi-Financial, which serves independent advisors; and Primevest, which works with banks and credit unions.
Lightyear Capital, the private-equity firm led by industry veteran Don Marron, closed the deal to buy three of ING’s broker-dealers Feb. 1. The company announced the group was to be named Cetera the same day.