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Tom Gooley will retire from his role as chief operating officer of Cetera Financial Group at the end of the first quarter, the broker-dealer network said Wednesday. Gooley will help the company transition to a new chief operating officer, who will be announced soon.
“Tom has agreed to stay on during a critical period of transitions and growth to ensure consistency of service and stability of operations for our advisors, partners and internal teams,” Mike Durbin, CEO of Cetera Financial Group, said in a statement. “Tom’s leadership was crucial in leading Cetera to a powerful position in the industry, and we are grateful for the positive impact he has had on our organization, countless advisory practices, and the career paths of so many Cetera employees.”
Gooley joined Cetera in October 2020, assuming responsibility for the company’s services, technology, trading and operations. Prior to joining, he was Managing Director of Services, Trading and Operations at LPL Financial, where he rebuilt the company’s call center. Prior to that, Gooley held senior positions at TIAA-CREF, Morgan Stanley, Bank of America Securities and Goldman Sachs.
At Cetera, Gooley led the launch of Cetera’s multi-custody platform, adding Fidelity’s NFS clearing services. He also led the integrations of Cetera’s acquisitions, including Voya, Securian and Avantax.
“This is both a celebration of Tom’s impact and a sure step toward what comes next,” Durbin said.
Late last year, the company said it made “a small workforce reduction.” Cetera did not elaborate on the types of roles that will be eliminated, but said there was “minimal impact on employees working in the field and no impact on regional growth teams that support our advisors and financial institutions.”
The measures were in addition to layoffs the company made in early 2025, which Cetera also said were not of advisors.
Cetera currently has nearly 12,000 advisors in its different channels. Together they oversee more than $625 billion in assets under management and $284 billion in assets under management.