Cetera COO Tom Gooley to Retire After Steering Landmark Growth

SAN DIEGO, CA – January 07, 2026 – Cetera Financial Group has announced the planned retirement of its Chief Operating Officer, Tom Gooley, capping a five-year tenure marked by transformative growth and strategic acquisitions. Gooley, a veteran of the financial services industry, will remain in his role through the first quarter of 2026 to oversee the final stages of the critical Avantax integration, a move underscoring the firm’s commitment to a stable and seamless leadership transition.

The announcement signals a deliberate and carefully orchestrated handoff at a pivotal moment for the wealth management giant. With approximately 12,000 advisors and institutions under its umbrella, Cetera has been on an aggressive expansion path, and Gooley has been a central architect of its operational capability to absorb this growth.

"Tom agreed to stay through a critical period of transitions and growth to ensure consistency of service and stability for operations for our advisors, partners, and internal teams," said Mike Durbin, CEO of Cetera Financial Group. "Tom's leadership was crucial to steering Cetera into a powerful industry position, and we are grateful for the positive impact he's had on our organization."

The Architect of Integration and Scale

Since joining Cetera in October 2020, Gooley has been at the operational heart of the company's most significant undertakings. His arrival followed a distinguished career with leadership roles at Goldman Sachs, Bank of America, Morgan Stanley, and LPL Financial. He was tasked with unifying Cetera's service, technology, trading, and operations during a period of unprecedented M&A activity.

His tenure is most notably defined by his leadership in spearheading the integration of several major corporate acquisitions, including Voya, Securian, and, most recently, Avantax. The $1.2 billion acquisition of Avantax, which closed in late 2023, was a monumental task, bringing more than 3,000 financial professionals and over $82 billion in assets under administration into the Cetera ecosystem. Gooley’s decision to extend his tenure is directly tied to ensuring the complex conversion and subsequent "service after-care" for former Avantax advisors are executed flawlessly, a move intended to reassure the thousands of professionals transitioning their businesses.

Beyond M&A, Gooley was instrumental in advancing Cetera's technological infrastructure. He led the rollout of the firm's multi-custodial platform, a strategic initiative that included the addition of Fidelity's NFS Clearing services. This move was pivotal in providing Cetera's independent advisors with greater flexibility and choice, a key competitive differentiator in the wealth management space. This focus on building a customer-centric operating model was designed to deliver consistent and scalable outcomes for advisors and their clients, reinforcing Cetera's identity as a premier "Wealth Hub."

"I'm incredibly proud of the significant success this team has experienced together, a level of impact only possible by a collective commitment rooted in trust, transparency, and teamwork," Gooley stated. "We've strengthened the foundation of the organization where empowering people and having a sense of shared ownership is what fuels high performance and has created momentum that will carry Cetera forward far beyond this transition."

A Deliberate Handoff for Continued Momentum

The transition is far from a surprise departure. According to Cetera, Gooley's retirement is the result of more than a year of deliberate planning with the firm's leadership team. This proactive approach to succession is a hallmark of mature corporate governance, aimed at minimizing disruption and maintaining forward momentum. In an industry where leadership instability can rattle advisor and investor confidence, Cetera’s methodical process signals a commitment to stability.

As of September 30, 2025, the firm managed approximately $625 billion in assets under administration and $284 billion in assets under management, figures substantially bolstered by the acquisitions Gooley helped integrate. The COO role in an organization of this scale is critical, overseeing the complex machinery that enables thousands of independent businesses to function. A mismanaged transition could have significant downstream effects on service quality and operational efficiency.

Cetera has confirmed that a seasoned industry leader has already been identified to succeed Gooley, with a formal announcement expected shortly. Gooley will work closely with his successor to ensure a comprehensive onboarding process and maintain business continuity. This overlap is designed to facilitate a seamless transfer of knowledge and responsibility, particularly concerning the intricate details of ongoing integration projects.

"This is both a celebration of Tom's impact and a confident handoff to what comes next," Durbin added. "The foundation we've built allows us to deliver the benefits of Cetera's scale on a by-practice basis, which is part of how we make the big feel small and support each advisor, firm, and financial institution based on what they need to grow and succeed."

Implications for the Advisor Experience

For the thousands of financial professionals affiliated with Cetera, a change in operational leadership is a significant event. The COO's office directly impacts the technology, support services, and platforms that advisors rely on daily. Cetera's handling of this transition appears keenly focused on mitigating any potential disruption to its network.

Gooley’s continued presence through the first quarter is a direct message to advisors, particularly those from Avantax, that the firm is prioritizing a smooth and supportive integration experience. The concept of "service after-care" suggests a long-term commitment to resolving issues and ensuring advisors can operate efficiently on Cetera's platform post-conversion. This hands-on approach by the outgoing COO is a powerful gesture of accountability.

The operational enhancements implemented under Gooley's watch, such as the multi-custodial platform, have already provided tangible benefits to advisors seeking more sophisticated and flexible ways to serve their clients. The incoming COO will inherit this enhanced infrastructure but will also be tasked with building upon it. The challenge will be to continue innovating and refining the advisor experience while managing the immense scale Cetera has achieved.

The firm's emphasis on its "Wealth Hub" model and its high advisor satisfaction scores—reportedly 4.8 out of 5 from over 40,000 reviews—will be a key benchmark for the new operational leader. As Cetera continues to grow, maintaining that feeling of personalized support will be the ultimate test of its operational strategy and the legacy Gooley leaves behind.