BISA Magazine - Quarter 1, 2017 - 27

LEAVING
THE PAST
BEHIND
CFI President LeAnn Rummel says
all upheaval is in the rearview mirror
By Andrew Singer

W

ith a recent
upheaval, these have
been challenging
times for Cetera
Financial Institutions
(CFI), one of the leading third-party
marketing firms (TPMs) in the bank
brokerage industry.
The problem stemmed from CFI's parent, RCS Capital Corporation, originally
a REIT firm, which expanded rapidly. It
purchased brokerage after brokerage,
incurred too much debt, filed for prearranged Chapter 11 (in January 2016),
reorganized, and finally emerged from
bankruptcy in May 2016.
Rebranded as Aretec (Cetera spelled
backwards), the former RCS is today a

private company with $150 million in
fresh capital; its sole focus is Cetera
Financial Group, its only operating entity. (CFI is a part of Cetera
Financial Group-it is Cetera's bank
brokerage division.)
All that upheaval is "completely in the
rearview mirror now," asserts LeAnn
Rummel, CFI's new president. "It's now
business as usual."

Succeeding Catherine
Bonneau
Rummel, who serves on BISA's board
of directors, was named CFI's president
in August 2016. Previously the firm's
national sales director, she now focuses

more on the firm's strategic efforts,
reporting directly to Catherine M.
Bonneau, who remains CEO of Cetera
Financial Institutions. Rummel runs CFI
on a day-to-day basis.
The TPM has some 500 client banks
and credit unions; after LPL, it is the
largest TPM that works with financial
institutions in the investments area.
CFI's client banks and credit unions
were "loyal and patient" through the
reorganization, Rummel recounts. It
helped that many have been Cetera
clients for many years.
She is keen on moving forward now. To
a large degree, that means helping CFI's
clients deal with the Department of
Labor's (DOL) new fiduciary duty rule.

27
BISA Magazine



Table of Contents for the Digital Edition of BISA Magazine - Quarter 1, 2017

Table of Contents
BISA Magazine - Quarter 1, 2017 - Cover1
BISA Magazine - Quarter 1, 2017 - Cover2
BISA Magazine - Quarter 1, 2017 - Table of Contents
BISA Magazine - Quarter 1, 2017 - 2
BISA Magazine - Quarter 1, 2017 - 3
BISA Magazine - Quarter 1, 2017 - 4
BISA Magazine - Quarter 1, 2017 - 5
BISA Magazine - Quarter 1, 2017 - 6
BISA Magazine - Quarter 1, 2017 - 7
BISA Magazine - Quarter 1, 2017 - 8
BISA Magazine - Quarter 1, 2017 - 9
BISA Magazine - Quarter 1, 2017 - 10
BISA Magazine - Quarter 1, 2017 - 11
BISA Magazine - Quarter 1, 2017 - 12
BISA Magazine - Quarter 1, 2017 - 13
BISA Magazine - Quarter 1, 2017 - 14
BISA Magazine - Quarter 1, 2017 - 15
BISA Magazine - Quarter 1, 2017 - 16
BISA Magazine - Quarter 1, 2017 - 17
BISA Magazine - Quarter 1, 2017 - 18
BISA Magazine - Quarter 1, 2017 - 19
BISA Magazine - Quarter 1, 2017 - 20
BISA Magazine - Quarter 1, 2017 - 21
BISA Magazine - Quarter 1, 2017 - 22
BISA Magazine - Quarter 1, 2017 - 23
BISA Magazine - Quarter 1, 2017 - 24
BISA Magazine - Quarter 1, 2017 - 25
BISA Magazine - Quarter 1, 2017 - 26
BISA Magazine - Quarter 1, 2017 - 27
BISA Magazine - Quarter 1, 2017 - 28
BISA Magazine - Quarter 1, 2017 - 29
BISA Magazine - Quarter 1, 2017 - 30
BISA Magazine - Quarter 1, 2017 - 31
BISA Magazine - Quarter 1, 2017 - 32
BISA Magazine - Quarter 1, 2017 - Cover3
BISA Magazine - Quarter 1, 2017 - Cover4
https://www.nxtbook.com/nxtbooks/bisa/2017q4
https://www.nxtbook.com/nxtbooks/bisa/2017q3
https://www.nxtbook.com/nxtbooks/bisa/2017q2
https://www.nxtbook.com/nxtbooks/bisa/2017q1
https://www.nxtbook.com/nxtbooks/bisa/2016q4
https://www.nxtbook.com/nxtbooks/bisa/2016q3
https://www.nxtbook.com/nxtbooks/bisa/2016q2
https://www.nxtbook.com/nxtbooks/bisa/2016q1
https://www.nxtbook.com/nxtbooks/bisa/2015q4
https://www.nxtbook.com/nxtbooks/bisa/2015q3
https://www.nxtbook.com/nxtbooks/bisa/2015q2
https://www.nxtbook.com/nxtbooks/bisa/2015q1
https://www.nxtbook.com/nxtbooks/bisa/2014q4
https://www.nxtbook.com/nxtbooks/bisa/2014q3
https://www.nxtbook.com/nxtbooks/bisa/2014q2
https://www.nxtbook.com/nxtbooks/bisa/2014q1
https://www.nxtbookmedia.com