Cetera Financial Group has scored a major recruiting coup, poaching rival AIG Advisor Group's chief operating officer, David Ballard, to become Cetera's new executive vice president and COO.

Securing Ballard is part of Cetera's "growth-based strategy," says Larry Roth, the CEO of the IBD, one of the industry's largest with over 9,500 advisors and $32 billion in assets. "We need David's expertise in finalizing our strategy and being able to  execute  against  our plan to help advisors grow organically, take advantage of our size and scale and become a leader in risk management," Roth says.

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