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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

Tuesday, January 24, 2017 – 12:17 AM by Brooke Southall
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John Clendening: The simplest way to satisfy the new DOL rule is to appropriately have clients in fee-based advisory relationships.

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UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 – 1:35 AM

John Clendening tells analyst who asks about Bob Oros's H.D. Vest departure: 'You can read into that whatever you want to.'

Blucora's CEO was evasive but, for sure, his firm's shares plunged near 40% in the past month after its IBD revenues ticked up only 6%; Oros may never have moved to Texas from Boston CEO

October 31, 2018 – 11:21 PM

Chuck Schwab reveals Part B, doubling-down on Walt Bettinger by making him co-chair, a day after Part A -- wagering $15 billion from the Schwab corporate treasury on the CEO's future leadership

The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.

July 30, 2022 – 12:41 AM

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 – 2:02 AM

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Mentioned in this article:

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh




Stephen Winks

Stephen Winks

January 24, 2017 — 2:48 PM
The industry needs to start solving problems rather than denying there is a problem. This requires an open mind, process and technological acumen in advisory services and no fear of a prudent expert standard. HD Vest's constituency of CPAs who value technical competency, Blucora's expertise in technology which transcends the skill set of brokerage executives, and the deep understanding of the massive gap between transactions and advisory services, all put Oros in a spot to solve problems in a way which is beyond the reach of conventional brokerage. Let's hope this is the beginning of a sea change in advisory services. Great potential, will the HD Vest culture allow a material departure from conventional product sales? If so, it is a home run. SCW
Dave Watson

Dave Watson

January 24, 2017 — 9:16 PM
Bend over, HD Vest advisors. Blucora will move your accounting clients over to their partner, <a href="http://Taxfyle.com" rel="nofollow">Taxfyle.com</a>. They already have the client contact information. Hahaha. Did anybody actually think they spent $200 million to improve the lives and fortunes of HD Vest advisors? Roger Oches is getting out while the getting's good.

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