TD Ameritrade Institutional has promoted its Western regional head of new advisor business development to a post managing new advisor business throughout the division.

Peter Dorsey, 40, will have the title of managing director of institutional sales for TD Ameritrade Institutional. In his new role, he will oversee advisor recruitment, practice management consulting, relationship management and sales strategy. He is replacing Tom Nally, who took over for Tom Bradley as president of TD Ameritrade Institutional in early February. Bradley, meanwhile, moved on to become president of retail distribution for TD Ameritrade Holding Corporation.

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