Arete Wealth Promotes Levine to CEO in Broader Executive Leadership Shift
By Damon Elder
Arete Wealth has implemented a series of executive leadership promotions and appointments as part of what the firm described as its next phase of growth, including the transition of founder Joshua D. Rogers from chief executive officer to executive chairman of the board.
The changes, which are effective immediately, follow what the firm characterized as record-setting performance in 2025 across revenue, assets under management and new client relationships.
David Levine, who previously served as chief operating officer, has been promoted to chief executive officer of Arete Wealth Inc. and its affiliated broker-dealer, registered investment adviser and insurance agency. Levine joined Arete in 2023 after senior leadership roles at B. Riley Wealth Management and National Securities Corporation, where he served as chief sales officer and executive vice president.
Micah Rayner was promoted to chief operations officer of Arete Wealth Management, the firm’s broker-dealer, after serving as vice president of operations since 2021. Rayner has been with the firm for more than five years and holds multiple FINRA licenses.
Cristina Terrana, who joined Arete in 2022, was promoted to chief of staff and manager of transitions. She previously served as transition manager and operations specialist at the firm and earlier worked in onboarding and project coordination roles at B. Riley Financial.
Arete also announced several external hires to its finance and compliance leadership.
Glenn Worman joined the firm as chief financial officer of the holding company. Worman has served as chief financial officer and interim CFO for multiple public and private companies, including special purpose acquisition corporations, and previously worked as a partner with CFO advisory firm SeatonHill Partners.
Cathy Cucharale joined Arete Wealth Management as chief compliance officer. She previously served as chief compliance officer at McLaughlin Ryder Investments and Bley Investment Group and has held senior compliance and operations roles at multiple broker-dealers.
Patti Almanza joined Arete Wealth Advisors, the firm’s registered investment adviser, as chief compliance officer. She most recently served as chief compliance officer at NFJ Investment Group and has held senior compliance leadership roles at multiple registered investment advisory firms.
Lauren Trousdale also joined the firm as financial operations principal of the broker-dealer.
Rogers, who founded Arete Wealth nearly 19 years ago, said the leadership realignment is intended to strengthen the firm’s operational depth while supporting its advisor-centric model.
“As I transition into the role of executive chairman, I’m proud to elevate a number of our existing leaders and augment our team with new leaders whose vision and leadership will help drive Arete’s future,” Rogers said in the release.
The announcement comes as Arete continues to operate under heightened scrutiny following regulatory actions disclosed last year. In January 2025, the Securities and Exchange Commission charged Arete Wealth Management, Arete Wealth Advisors and several former registered representatives in connection with an alleged illegal securities offering involving the sale of unapproved oil-and-gas investments. The SEC also brought charges against UnBo “Bob” Chung, the firms’ general counsel chief compliance officer, related to alleged compliance failures and a subsequent cover-up, according to the agency.
Arete Wealth operates a diversified platform spanning broker-dealer, registered investment adviser and insurance businesses, providing wealth management, alternative investment and advisory services nationwide.
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