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New Moves in the Biz


Fiske departs Envestnet to rejoin Apex CEO William Capuzzi, a former Pershing colleague, to build on Apex 'big league' success as custodian for firms like Betterment and Wealthfront

February 8, 2017 — 10:05 PM UTC by By Lisa Shidler

Brooke's Note: Bob Oros, Lori Hardwick and now Ron Fiske in the past two months. If you combine RIA business knowledge and the ability to play well with others in a corporate setting, you are likely to get poached. Somebody will think you are ...


February 3, 2017 — 3:31 PM UTC by RIABiz

FS Investments, a leading alternative asset manager, hired Chris Condelles as head of capital markets and investor relations in the firm’s Philadelphia headquarters.

In the new role, Condelles will help expand the reach of the firm’s growing suite of investment products by overseeing relationships ...

February 2, 2017 — 4:15 PM UTC by RIABiz

John Grimaldi has been named chief operating officer of Bedford, N.H.-based RedBlack Software, which provides the financial advisory sector with rebalancing, order management and trading products required to manage complex portfolios.

In the newly created position, Grimaldi will use his operational expertise to ...

Lori Hardwick's tour at Pershing is over after a single year as she proves too restless an entrepreneur for life under BNY.

Lori Hardwick resigns from COO job at Pershing in 'completely unexpected' move

The longtime Envestnet exec is apparently leaving to join an entrepreneurial venture just a year after surprising observers by taking the post at the BNY Mellon subsidiary

February 1, 2017 — 11:27 PM UTC by Brooke Southall

Brooke's Note: When we wrote about Bob Oros leaving Fidelity to join a Kon-Tiki style venture from the aircraft carrier deck of his career in Boston, Cecile Munoz said that we could expect to see a whole series of such millennial-minded moves in early 2017 ...

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Steve Chipman: Advisor Group has the financial resources, products and services and long-term vision to help broker-dealers and RIAs thrive during what we are calling the fiduciary era.

While Advisor Group's high-powered organic growth strategy unfurls, Valerie Brown unleashes Steve Chipman to do the inorganic wet work of rolling up IBD orphans and maybe even some RIAs

Poached from Foothill Securities, Chipman cites his former employer as the reason he can talk the talk of his quarry -- smaller firm execs seeking a port in a fiduciary storm

January 25, 2017 — 3:53 PM UTC by Sarah O’Brien

On Jan. 10, RIABiz described one of the more ambitious efforts in the independent advisory arena seen in years -- one in which Advisor Group slashed its own revenues by slashing prices. Why Valerie Brown is doing 19-whistlestop tour with her new CEO to sell -- ironically -- deep price ...


January 26, 2017 — 3:35 PM UTC by RIABiz

Ascensus Inc., the largest independent retirement plan and college savings services provider, has appointed Carolyn Fraser as vice president of relationship management.

Before joining Dresher, Pa.-based Ascensus, Fraser spent 16 years at The Vanguard Group where she served in various leadership roles in client administration and ...

January 24, 2017 — 7:48 PM UTC by RIABiz

Raymond James recently announced the appointment of veteran complex manager Stephen B. Pryor as regional executive for the Alex. Brown office in Boston. 

Pryor began his financial services career as a Merrill Lynch advisor trainee in 1991, in Tysons Corner, Va. He then spent ...

John Clendening: The simplest way to satisfy the new DOL rule is to appropriately have clients in fee-based advisory relationships.

How a Schwabian picture is emerging as Bob Oros joins John Clendening as chief of 4,500 underachieving HD Vest reps

Ex-Schwab retail chief Clendening makes the ex-Fido RIA chief his new CEO -- with ambitious plans in an atmosphere of revenue-sharing, variable annuities and commission sales

January 24, 2017 — 12:17 AM UTC by Brooke Southall

Brooke's Note: The HD Vest pieces are starting to fall into place. When you take a step back you see two Schwab veterans joining forces at the peaks of their careers, taking a measured risk to bring two decidedly non-fiduciary broker-dealers into the modern era of ...


The sales manager who was once an advisor was previously with ADP Retirement Services

January 17, 2017 — 4:25 PM UTC by RIABiz

Ascensus Inc., the nation’s largest independent retirement plan and college savings services provider, has appointed Michael Sperduto as a regional vice president. Sperduto will work with with advisors, third-party administrators and financial institutions—including outsourcing partners and defined contribution investment only wholesalers—to build and maintain ...

Dan Brandenburg will join the Boston-based firm's D.C. offices

January 17, 2017 — 4:01 PM UTC by RIABiz

Dan Brandenburg joined The Wagner Group as a partner, effective Jan. 1.

Brandenburg has extensive experience in the areas of pension, 401(k) and welfare plans, executive compensation (including plans for tax-exempt organizations) and executive employment. He also has substantial experience with association-sponsored member service programs. Brandenburg represents clients ...