Cetera Hires Jerry Patterson to Lead Retirement, Annuity Push
Firm taps Fidelity’s life insurance president to bolster retirement, life insurance and annuity offerings to its network of over 10,000 financial advisers.
Cetera Financial Group has snagged its second high-level executive from Fidelity Investments in a little over a year as it builds out its retirement offerings for its network of financial advisers, according to a Monday announcement.
Jerry Patterson will be joining Cetera as head of advanced wealth solutions, responsible for building out the firm’s “retirement, life insurance and annuity offerings to help advisers provide financial security to their clients,” according to the announcement.
Jerry Patterson
Patterson takes the role after being president of Fidelity’s life insurance division for a little under three years. Brior to that role, he was senior vice president of workplace savings and retirement solutions at Principal Financial Group.
“This is a perfect next chapter for me given my deep retirement, insurance, and wealth management background,” Patterson wrote in a post on LinkedIn.
Last year, Cetera Holdings, the parent of Cetera Financial Group, named Mike Durbin as CEO, a post he took from a role as president of Fidelity Institutional.
In his new position, Patterson will run the insurance and workplace and retirement solutions groups at Cetera, where he will lead the “design, development and management of insurance and retirement products that meet clients’ changing needs,” according to the announcement. He will also spearhead distribution strategy and look to expand distribution partnerships out of Cetera’s Des Moines, Iowa, location.
Patterson will report to Head of Solutions and Strategy Andy Kalbaugh.
“As we continue to expand our suite of offerings to help advisers across our channels and communities succeed and best serve their clients, Jerry’s leadership will be instrumental in delivering innovative advanced wealth solutions,” Adam Antoniades, CEO of Cetera Financial Group, said in a statement.
At Fidelity, Patterson worked with Fidelity advisers and its registered investment adviser network partners to incorporate insurance solutions into their wealth management practices.
Cetera has a network of over 12,000 financial professionals representing more than $505 billion in assets under administration and $213 billion in assets under management as of March 31.
Correction: Fixes to show Patterson will be reporting to Andy Kalbaugh.