HD Vest Financial Services, a tax-focused broker-dealer with $45 billion in total client assets, announced that Bob Oros is stepping down from his role as chief executive officer on November 15th. Before joining HD Vest in early 2017, Oros was the head of Fidelity’s RIA segment for more than five years.
According to a statement by HD Vest’s parent company, Blucora Inc. (NASDAQ: BCOR), Oros’ decision is due to “personal reasons in order to be closer to his family,” and he has agreed to remain with the company in a consulting role until March 2019 as a search for a replacement is conducted.
Todd Mackay, who currently serves as executive vice president and general manager of TaxAct, an affiliate of HD Vest, will serve as interim CEO. In this role, he has been leading the TaxAct business in preparation for the 2018 tax season and future growth.
“Mackay led the initiatives to expand third party partnerships in both TaxAct and HD Vest which, in addition to his accomplished background leading growth oriented financial and fintech businesses, makes him ideal to take the helm of HD Vest in the interim,” Blucora said in a statement.
Mackay joined Blucora in 2015 as executive vice president of corporate development after advising the company for more than a year. In this capacity, he was responsible for Blucora’s mergers and acquisitions, strategic investments, and corporate and business partnerships.
A technology executive with nearly 20 years’ experience, Mackay has managed operations and finances for privately held, publicly traded, and growth companies. Previously, he was the co-founder of P2B Investor, a crowdfunding business providing working capital loans to small and medium sized businesses.
Mackay has served as EVP of finance and corporate development for Emerge Digital Group, a privately held digital media company. He was the former EVP of global corporate development and corporate treasury at ETRADE Financial, where he held a number of executive positions including corporate treasurer and EVP in charge of its Asian broker-dealer business.
Mackay has held various executive positions with Telebanc Financial Corp, Robertson Stephens and Alex Brown focusing on financial institutions and financial technologies. He received a Bachelor of Arts degree from Princeton University in economics with an emphasis in mathematics.
Blucora operates through two primary businesses, HD Vest, a tax-focused broker-dealer, and TaxAct, a tax preparation software by market share with approximately 4 million consumer and professional users.