Private Advisor Group says it has named an experienced industry executive it hired last year as the firm’s new president.

The company has promoted Frank Smith, previously head of advisor growth, to the newly created position, according to the Private Advisor Group.

The firm added that Smith’s new role is “a key step in its succession planning for the organization.”

Smith joined Private Advisor Group in January 2021 as head of advisor growth, the company says.

In that role, Smith “has successfully assembled and led a team of business development, marketing, and engagement professionals which drove record recruiting results in 2021, helped execute the firm's largest acquisition to date and the subsequent launch of the Advisor Alignment and Equity Program,” according to the firm.

Prior to Private Advisor Group, Smith served as director of investment solutions at CUNA Mutual Group, before which he had spent close to 14 years with LPL Financial, according to LinkedIn.

Smith also held roles at UVEST Financial Services and Enterprise Holdings, according to his profile.

Founded in 1997, Morristown, New Jersey-based Private Advisor Group now oversees more than $30 billion in client assets, the company says.