Oros bolts TCA to head up RIA sales for Fidelity

Oros bolts TCA to head up RIA sales for Fidelity
Industry veteran will oversee sales, relationship management
FEB 28, 2012
Fidelity Institutional Wealth Services has hired industry veteran Bob Oros as executive vice president of RIA sales and relationship management. He will start his new job Monday, according to Fidelity spokesman Steve Austin. As head of RIA sales and relationship management, Mr. Oros will be responsible for six regions, about 100 employees and seven regional senior vice presidents, one of whom handles newer advisers, Mr. Austin said. He will report to Mike Durbin, president of the Fidelity RIA custody unit, which holds $502 billion in assets for more than 3,000 RIA clients. Mr. Oros fills a spot vacated last fall by Scott Dell'Orfano, who took on a newly created position overseeing strategic initiatives. Oversight of third-party administrators and trust banks, which Mr. Dell'Orfano handled in addition to RIA sales, was given to executive vice president Meg Kelleher, Mr. Austin said. Mr. Oros is taking on the RIA piece, the spokesman said. Most recently, Mr. Oros was national sales manager at Trust Co. of America. He joined the firm in October 2010 to build up the sales effort of the relatively small custodian, which holds $10.7 billion in assets and caters to turnkey asset management programs, as well as other money managers who need an integrated trading and reporting platform. He held other sales positions at LPL Financial LLC and Charles Schwab & Co. Inc. For Trust Co. of America, the loss of Mr. Oros comes about two months after Frank Maiorano resigned as chief executive. Mr. Maiorano was replaced by David Barry, a member of TCA's board. Mr. Maiorano's departure was a planned transition, the company and Mr. Maiorano said at the time. "Bob's leaving did not have anything to do with Frank," said Jennifer Nealson, a spokeswoman for Trust Co. of America. "When you get an opportunity like that in your career, it's something you want to move on," she said about Mr. Oros' new position at Fidelity. Mr. Oros leaves behind a seven-person sales staff he recruited into Trust Co. of America, Ms. Nealson said. "They're all extremely strong [and] all are very knowledgeable in the marketplace," she said. The RIABiz website first reported the story.

Latest News

SEC enforcement against public companies hits record low under Atkins
SEC enforcement against public companies hits record low under Atkins

New research shows a 71% plunge in actions in fiscal year 2026, with total settlements the lowest since the database began.

Edward Jones advisor launches SteadRock Private Wealth on LPL platform
Edward Jones advisor launches SteadRock Private Wealth on LPL platform

An Ohio-based advisor departs Edward Jones to build an independent firm focused on retirees and business owners.

SEC and state regulators tighten grip on fraud in fiscal 2026
SEC and state regulators tighten grip on fraud in fiscal 2026

Broker-dealer enforcement actions surged 66% as the SEC and state regulators cracked down on Ponzi schemes and digital asset fraud.

Marsh acquires Wilshire to deepen wealth advisor reach
Marsh acquires Wilshire to deepen wealth advisor reach

The deal adds $221 billion in AUM and bolsters Marsh's alternatives and model portfolio capabilities for advisors.

Gen X retirement savings facing ‘collision of financial pressures’ from family obligations
Gen X retirement savings facing ‘collision of financial pressures’ from family obligations

New Jackson research finds multi-generational financial obligations are leaving pre-retirees dangerously off track.

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.