Robo Clearing Firm Apex Taps Envestnet's Fiske to Head Retail Ops

By Janet Levaux

January 31, 2017 at 09:42 AM

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Apex Clearing Corp., which works with robo-advisors like Betterment, has hired industry veteran Ron Fiske to head its retail operations. Prior to joining Apex, Fiske was a managing director at Envestnet Asset Management. He has also worked in management at Fidelity Investments and Pershing.

"We're thrilled to have Ron lead our retail business, which is helping usher the industry into the new age of digital advice," said William Capuzzi, CEO of Apex Clearing, in a statement.

"Ron is a perfect fit for Apex because he shares the same vision for fintech as we do: that as digital services become more integrated, the firms with the most sophisticated technology will be the ones that are able to not only operate the most profitably, but also deliver the most user-friendly, seamless platforms to their clients," Capuzzi added.

Fiske was with Envestnet from 2010 to 2016, Fidelity from 2008 to 2010 and Pershing from 2000 to 2008. He first worked in the industry at Citibank, starting in 1983.

"From a technology standpoint, Apex is way ahead of the curve as the operations of the advisor community inevitably become more digitally focused," Fiske said in a statement.

"Apex's work with the top robo-advisors illustrates how the company is leading the pack in terms of providing efficient solutions that allow for more simplified platforms. I'm excited to join Apex as it builds on its success in disrupting the industry through advanced technologies," Fiske said.

Recently, Apex said it is working with Smartleaf to add rebalancing technology to its core custody and clearing services. The clearing firm says that, according to BI Intelligence, robo-advisors could have as much as $8 trillion in assets by 2020.

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