Robert Moore’s abrupt departure from Cetera has raised questions that echo the bankruptcy of parent RCS Capital.
Moore, the former president of LPL Financial, was appointed CEO of Cetera in 2016 after the independent broker/ dealer emerged from bankruptcy.
Moore, who said he left Cetera for “health” reasons, was the architect of an alleged “unhealthy” corporate culture that bled in to its subsidiaries like First Allied Securities, once run by Adam Antoniades who was passed over for the CEO role at Cetera.
Publicly available records provided through the securities industry indicate former CEO Robert Moore was at the helm when Cetera recruited aggressively by adding more than 800 advisors.
Other filings show Cetara carried a significant level of debt during Moore’s growth strategy of accelerated mass recruiting and acquisitions.
This Financial Justice group that seeks to disrupt institutional abuse, financial scams and Security fraud has obtained publicly available records and customer complaints that point to a culture of oppression at First Allied, a company acquired by Cetera.
Stay tuned for more on this developing story.
