MORRISTOWN, N.J., Nov. 18, 2020 /PRNewswire/ -- Private Advisor Group ("PAG," "the firm"), a Registered Investment Adviser (RIA) and one of the largest and fastest growing independent wealth management firms in the country,* announced the appointment of industry visionary Robert "RJ" Moore as its new Chief Executive Officer, effective today. PAG co-founders and lead shareholders John Hyland and Pat Sullivan will continue as key members of the firm's senior executive leadership team. PAG currently has over $21 billion in AUM and over 650 financial advisors.
Mr. Moore's extensive leadership experience in the financial advisory profession 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, Mr. Moore served as CEO of ABN AMRO North America and La Salle Bank Corporation.
Private Advisor Group has experienced significant growth in the independent financial advisory space, growing to over 650 advisors in 38 states across the U.S., earning its reputation as one of the fastest-growing wealth management firms in the country in 2019.* It has recently added well-known talent across its already deep executive bench, and the appointment of Mr. Moore as CEO signals the start of a new phase of even more substantial growth for the firm.
In a joint statement, John Hyland and Pat Sullivan said, "Bringing RJ Moore aboard as our new CEO perfectly aligns with our strategic and cultural goal of driving transformational growth for our advisors. 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. We have admired and shared RJ's focus on serving advisors and their clients since we got to know him as President of LPL. We will continue to be closely engaged with RJ and the rest of PAG's leadership team going forward in order to maintain the firm's powerful culture and focus."
Mr. Moore's initial priority will be to build upon PAG's array of strategic relationships with LPL Financial, Fidelity, Schwab and Pershing. He will also continue to leverage PAG's best-in class, patent-pending compliance software and technology platform to accelerate the firm's growth trajectory as a destination of choice for top-performing advisors across the country.
RJ Moore said, "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. As our profession becomes increasingly complex, PAG is uniquely positioned to accelerate its growth trajectory by leveraging its leadership position, expertise and platforms to create an even more compelling value proposition for successful financial professionals. This announcement is all about transformation and trajectory that creates a bridge to the future and continues to build on PAG's position as a trusted partner and destination of choice for growth-oriented financial advisors."
Emphasizing his commitment to PAG's long-term success and his belief in its strong growth prospects, Mr. Moore will also acquire a significant equity stake in the firm. Financial terms of the anticipated investment were not disclosed.
About Private Advisor Group
Private Advisor Group is one of the fastest-growing RIA firms in the nation. As of June 30, 2020, the firm manages over $21 billion in assets under management (AUM) and currently supports over 650 advisors in 38 states across the U.S.
Founded by advisors John Hyland and Pat Sullivan, PAG provides industry-leading tools and technology to independent advisors, investors, and growing RIA firms that are focused on fiduciary adherence, compliance, and a client-centric approach. For more information, visit www.privateadvisorgroup.com.
*The WealthManagement.com 2019 Thrive Award was compiled by measuring the percentage of revenue growth over the previous three years. Average revenue growth of the top 200 list was three times the industry average, as calculated by McKinsey & Company's PriceMetrix.
SOURCE Private Advisor Group