With Mike Durbin, CEO of Cetera Financial Group

Overview

The CEO of Cetera Financial Group shares insights on independence, private equity, and balancing scale with service, plus what the future holds for advisors and firms.

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

The wealth management industry is at an inflection point—where scale, service, and strategy all collide.

Drawing on 35 years of industry experience and leadership roles at Morgan Stanley, Fidelity, and now Cetera, Mike Durbin offers a unique perspective on the forces shaping the world as we know it.

Since joining Cetera in 2023, Mike’s led the firm through rapid expansion—balancing the resources of a $600B+ national platform with a boutique-level advisor experience. From multi-channel affiliation models to tech and AI integration, his strategy centers on one thing: helping advisors grow faster, smarter, and more sustainably.

In this episode, Jason Diamond and Mike discuss:

• The future of independent wealth management—and how it stacks up against the wirehouse model.
• Cetera’s differentiators in today’s competitive recruiting environment—and why its “big feel, small approach” matters.
• The role of technology and AI—and how they’re driving efficiency, personalization, and advisor capacity.
• Private equity’s influence on the industry landscape—and what it means for long-term strategy.
• Lessons from leadership roles at Morgan Stanley and Fidelity—and how those experiences shape his vision at Cetera.
• Where the biggest opportunities lie ahead for advisors—and what excites him most about the next decade.

Whether you’re an advisor evaluating your options or a leader navigating change, Mike’s candid perspective provides clarity on what it takes to thrive in today’s environment.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

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RIA, IBD or somewhere in between: Which version of independence is right for you?
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Disclaimer: This material is for informational purposes only and should not be considered investment advice, a recommendation, or an offer to buy or sell any security. Opinions may change without notice. Forward-looking statements, including projections or estimates, are not guarantees. Past performance is not indicative of future results, and all investing involves risk, including loss of principal.

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Wealth Services LLC (f/k/a Cetera Advisor Networks), Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms are members Member FINRA/SIPC.

Mike Durbin
Chief Executive Officer

Mike Durbin is chief executive officer of Cetera Financial Group and a member of Cetera’s board of directors. In his role as CEO, he oversees Cetera’s growth initiatives, from expansion into new and adjacent markets to evolving Cetera’s existing capabilities for the financial professionals and financial institutions it serves.

Most recently, Mike was head of Fidelity Institutional, a division of Fidelity Investments offering clearing, custody, investment products, brokerage, and trading services to a wide range of wealth management firms and institutions. In this role, Mike was responsible for supporting the growth of clients’ businesses, enhancing their operational efficiency while delivering insights that help to drive confidence, clarity, and results.

Previously, Mike served as head of Fidelity Institutional Investment and Technology Solutions where he focused on the end-to-end delivery of wealth management products and technology solutions for Fidelity clearing and custody clients. Prior to that role, he served as president of Fidelity Wealth Technologies, where he oversaw Fidelity’s acquisition of eMoney Advisor. He joined Fidelity in February 2009 as president of Fidelity Institutional Wealth Services where he was responsible for the oversight and growth of the business by providing clients access to a flexible, open-technology environment, extensive practice management resources and wealth management investments, and related execution and custody services.

Prior to joining Fidelity, Mike acted as chief operating officer of the National Sales Division for Morgan Stanley’s Global Wealth Management. During his 18-year tenure with Morgan Stanley, he held various leadership positions, including head of Capital Markets, head of International Private Wealth Management and chief strategic and risk officer for the Global Individual Investor Group. Mike joined the firm in 1990, then titled Dean Witter Reynolds, Inc., in the investment banking field. In his initial roles, he was involved with the origination, structuring, and marketing of packaged investments for private client distribution.

Education

• Leonard N. Stern School of Business at New York University, MBA
• University of Notre Dame, BBA, Finance and Economics

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