Former Fidelity RIA chief Bob Oros has landed at HD Vest Financial Services, a top broker-dealer specializing in helping tax accountants expand into full-scale financial planning.
Oros will take over as CEO of HD Vest Financial Services on Feb. 28. The Irving, Texas, company moved up to the 17th largest IBD in the country in 2015 from 20th in 2014, according to the most recent rankings by Financial Planning.
Oros is set to leave Fidelity Clearing & Custody Solutions, the country’s second-largest custodian, at the end of this month after a five-year stint. His next move was the source of much industry speculation after his abrupt departure from Fidelity, which said Oros would pursue “a unique, new professional challenge.”
REPLACES 30-YEAR VETERAN
HD Vest’s parent company, Blucora, hired Oros, 51, to replace 30-year HD Vest veteran Roger Ochs as CEO. Ochs plans to step down at the end of next month, though he will remain at the company to help with its transition through March 31.
Ochs had said in June that the company would add another 580 brokers in 2016 to its pool of 5,600 nationwide. Meanwhile, Oros led a team of seven regional managing directors overseeing nearly 3,300 RIAs while at Fidelity.
“His experience in building adviser relationships will be instrumental to HD Vest’s future,” Blucora CEO John Clendening said in a statement included in a news release. “Under Bob’s leadership, the HD Vest team will continue to innovate and provide tax professionals and independent financial advisors with the right solutions to meet and exceed their clients’ needs.”
“HD Vest pioneered the idea of tax-smart wealth management services through tax professionals,” Oros said in the release. “I am thrilled with the opportunity to lead the innovative team at HD Vest and look forward to working with the firm’s advisers.”
Representatives for Blucora didn’t immediately make Oros available for an interview.
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