RIA Private Advisor Group has named Frank Smith, its president, to the role of CEO, succeeding Robert "R.J." Moore, effective in mid-January 2023.
The appointment was "part of a long-planned transition," the firm said Thursday, noting Smith will continue to serve as president going forward.
Smith will take the helm of Private Advisor Group as the firm, started 25 years ago by John Hyland and Pat Sullivan, enters its "next phase of growth," it said.
The firm had more than $29 billion in assets under management as of June 30, it said.
Moore joined the firm in November 2020 and focused on setting strategic direction, "growing the firm and helping to nurture new leadership," the company said.
Moore hired Smith in January 2021 and promoted him to president in April 2022 as the first step in its succession process.
Moore, along with Sullivan, will assume executive chair roles at the firm, with Moore focusing on supporting capital management, finance and diversity while Sullivan will focus on supporting the advisor experience including the Advisor Alignment and Equity Participation Program.
Before joining Private Advisor Group, Smith was director of investment solutions at CUNA Mutual Group. He also spent 13 years as a leader at LPL Financial in business development, enterprise relationship management and consulting for the RIA solutions division.
