Private Advisor Group, the largest hybrid registered investment adviser on LPL Financial’s platform with $21 billion in asset under management, has appointed industry veteran Robert Moore as its new chief executive officer.
Private Advisor Group co-founders and lead shareholders John Hyland and Pat Sullivan will continue as key members of the firm’s senior executive leadership team.
“Joining Private Advisor Group puts me in direct contact again with the part of the financial advice profession that I’m most energized by – being able to directly support, counsel and serve financial advisors,” said Moore.
Moore’s leadership experience in the financial advisory space includes serving as CEO of Cetera Financial Group from 2016 to 2019. Before that, he served as president of LPL Financial from 2012 to 2015, and as that firm’s chief financial officer from 2008 to 2012. Before joining LPL, Moore served as CEO of ABN AMRO North America and La Salle Bank Corporation.
“Bringing RJ Moore aboard as our new CEO perfectly aligns with our strategic and cultural goal of driving transformational growth for our advisors,” said Hyland and Sullivan in a joint statement. “Our approach has earned PAG the trust of the financial advisor community, and adding RJ sends a powerful signal that we plan to continue to grow our business the right way.”
The company noted that Moore will acquire a “significant equity stake” in the firm, although financial terms of the anticipated investment were not disclosed.
Private Advisor Group provides tools and technology to independent advisors, investors, and RIA firms and currently supports more than 650 financial advisors in 38 states across the U.S.