Welcome to Financial Advisor IQ

Fidelity’s Oros Named CEO of Blucora’s Brokerage

By Alex Padalka January 25, 2017

Financial technology firm Blucora has appointed Bob Oros, former head of Fidelity’s RIA business, as CEO of Blucora’s wealth management unit HD Vest, the company says in a press release.

Oros will take over from Roger Ochs February 28, according to Blucora. Ochs, who’s been with the firm for 30 years, will stay on through the end of March to help with the transition, the company says.

John Clendening, president and chief executive officer of Blucora, says in the press release that Oros was chosen for his track record in building advisor relationships.

HD Vest, meanwhile, focuses on tax-oriented wealth management through an independent network of advisors offering financial planning services, according to Blucora. HD Vest was acquired by Blucora for about $580 million in October 2015, as reported previously.

Oros has been at the helm of the RIA unit of Fidelity’s Clearing & Custody Solutions business for five years before announcing his departure for a “unique new personal challenge” earlier this month. He also worked for nine years at Charles Schwab and four years at LPL. While Fidelity looks for a replacement, the custodian’s seven regional heads will report to president Sanjiv Mirchandani.