Founded in 1988, MTI has maintained a steady presence in Minnesota for nearly 40 years, building a practice focused on high-net-worth families, business owners, and retirees. With more than 80% of its revenue derived from fee-based advisory work, the firm emphasizes fiduciary-minded estate planning and tax-efficient wealth transfer. Advisors Douglas Morey, Christopher Bayliss, and Thomas Scheck initiated the transition after evaluating multiple firms, ultimately finding that Cetera’s culture better aligned with their independent, client-first approach.
MTI Financial Advisors Moves $350 Million Portfolio to Cetera
After decades of navigating corporate consolidation, Edina-based MTI Financial Advisors has defected from Osaic to join Cetera’s Summit Financial Networks. The firm, which oversees approximately $350 million in assets under administration, sought a broker-dealer partner that prioritizes personalized, relationship-driven support over the scale of a national call center.
For the MTI team, the move represents a strategic pivot toward growth. The firm plans to expand its physical office space and is actively recruiting two additional advisors to join its ranks. According to Christopher Bayliss, the decision to switch was driven by a desire to access direct support rather than the impersonal service structures they encountered at larger entities. Tom Halloran, Cetera Advisor Channel Leader, noted that the partnership was a natural fit, citing MTI's long-standing commitment to high-touch client service as a reflection of the values supported by the Summit community.
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