AdvisorCentral Hires Groom

AdvisorCentral, the mutual fund portal for financial advisers, has hired financial services veteran Harold Groom to replace Joseph Grause. Though it's not clear whether Grause was fired or left for personal reasons, a written statement from the board said the organization is focusing on institutional business and new technologies. A spokeswoman denied that Grause had signed any prearranged agreement to resign with the portal's owners, Fidelity, Putnam, Franklin Templeton and PFPC. Grause declined to comment for the story, while Groom said of the 25,000 users of the site, he expects growth to continue.

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