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Smith succeeds R.J. Moore in main the 25-year-old agency into the subsequent part of development
MORRISTOWN, N.J., Oct. 20, 2022 /PRNewswire/ — Private Advisor Group, one of many largest and fastest-growing wealth administration companies within the nation*, introduced as we speak that Frank Smith will succeed Robert “R.J.” Moore because the agency’s chief govt officer in mid-January, as a part of a long-planned transition. Frank will now function president and CEO of Personal Advisor Group.
In November 2020, Moore joined Personal Advisor Group, which was based by John Hyland and Pat Sullivan in 1997, with a concentrate on setting strategic route, rising the agency and serving to to nurture new management. Moore employed Smith in January 2021 and promoted him to president in April 2022, as step one within the succession course of.
“That is well-deserved recognition for Frank, who is an excellent chief trusted by our staff and advisor group,” Moore stated. “Over the previous two years, I’ve seen firsthand how Frank’s ardour for this occupation and strategic mindset have actually enriched our assist for advisors and enhanced our development trajectory. I’ve little doubt that he’s the right particular person to guide Personal Advisor Group right into a brilliant future whereas sustaining the values and tradition that we maintain pricey.”
R.J., together with Pat Sullivan, will assume Govt Chair roles on the agency with R.J. specializing in supporting Capital Administration, Finance and Range whereas Pat will concentrate on supporting the Advisor Expertise together with the Advisor Alignment and Fairness Participation Program.
“I am honored that R.J., John, Pat and the workforce have positioned their belief in me,” Smith stated. “As a agency, Personal Advisor Group has a robust tradition constructed round our concentrate on relationships, supporting and fixing for the wants of unbiased advisors, and giving again to the communities that we’re in. I’m dedicated to serving to the agency and our advisor group proceed to attain collective development by additional constructing on that tradition of assist and repair, and doing so in a sustainable approach that protects the agency’s 25-year legacy for years to return. To perform that, we are going to stay keenly targeted on the advisor expertise.”
Over the previous two years, Personal Advisor Group has achieved important development. Final yr, the agency negotiated a strategic partnership with Service provider Funding Administration, which supplied further sturdy capital to assist fund long-term development options for its group of monetary advisors and traders nationwide.
In March, Personal Advisor Group launched its Advisor Alignment and Equity Program, which permits advisors to change a portion of follow income for an equity-sharing alternative and doubtlessly achieve entry to further working capital to fund development alternatives in areas comparable to continuity and succession planning, hiring, advertising, mergers and acquisitions and extra.
Earlier this yr the agency introduced on two giant wealth administration practices: Minneapolis-based Investors Financial Group, servicing over $1.86 billion in advisory property below administration as of December 31, 2021, and AK Financial Group, based mostly in Irvine, Calif., and overseeing a reported $1 billion in property below administration as of Could 31, 2022.
Personal Advisor Group has additionally expanded its personal workforce over the previous yr, making sturdy hires throughout advisor development, compliance, know-how and advertising.
Smith brings a various background within the monetary companies trade. Earlier than becoming a member of Personal Advisor Group, Smith was director of funding options at CUNA Mutual Group. He spent 13 years as a frontrunner at LPL Monetary in enterprise improvement, enterprise relationship administration and consulting for the RIA options division.
About Personal Advisor Group
Based in 1997 in Morristown, NJ, Personal Advisor Group is among the nation’s main monetary companies companies. With over $29 billion in property below administration as of June 30, 2022, the agency leverages its sources to ship methods positioned to enhance monetary outcomes for particular person traders and to encourage development, fiduciary adherence, succession and a client-centric strategy for unbiased monetary advisors’ practices. Barron’s has acknowledged Personal Advisor Group as a high ten registered funding advisory agency since 2019.
*Barron’s “High 100 RIA Companies” rating relies upon quantitative and qualitative standards together with: regulatory information, consumer retention studies, property managed, income generated, know-how spending, variety of shoppers, measurement and variety of employees, placement of a succession plan, and extra. Investor expertise and returns are usually not thought of. Neither Personal Advisor Group nor its monetary advisors pay a payment to Barron’s in change for the rating.
For extra info, go to www.privateadvisorgroup.com.
Securities provided by way of LPL Monetary, member FINRA / SIPC. Funding recommendation provided by way of Personal Advisor Group, a registered funding advisor and separate entity from LPL Monetary.
Media Inquiries:
Siobhan Nolan
JConnelly
(862) 217-9585
[email protected]
SOURCE Personal Advisor Group
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