How a Schwabian picture is emerging as Bob Oros joins John Clendening as chief of 4,500 underachieving HD Vest reps

Ex-Schwab retail chief Clendening makes the ex-Fido RIA chief his new CEO -- with ambitious plans in an atmosphere of revenue-sharing, variable annuities and commission sales

Author Brooke Southall January 24, 2017 at 12:17 AM

2 Comments

John Clendening: The simplest way to satisfy the new DOL rule is to appropriately have clients in fee-based advisory relationships.

Hybrid RIA

Tim Welsh

Bob Oros

John Clendening

Fidelity

Nexus Strategy

H.D. Vest

Charles Schwab

Eric Emans

Mathieu Stevenson

Pam Turay

Stephen Winks

January 24, 2017 — 2:48 PM

The industry needs to start solving problems rather than denying there is a problem. This requires an open mind, process and technological acumen in advisory services and no fear of a prudent expert standard. HD Vest's constituency of CPAs who value technical competency, Blucora's expertise in technology which transcends the skill set of brokerage executives, and the deep understanding of the massive gap between transactions and advisory services, all put Oros in a spot to solve problems in a way which is beyond the reach of conventional brokerage. Let's hope this is the beginning of a sea change in advisory services. Great potential, will the HD Vest culture allow a material departure from conventional product sales? If so, it is a home run. SCW

Dave Watson

January 24, 2017 — 9:16 PM

Bend over, HD Vest advisors. Blucora will move your accounting clients over to their partner, <a href="http://Taxfyle.com" rel="nofollow">Taxfyle.com</a>. They already have the client contact information. Hahaha. Did anybody actually think they spent $200 million to improve the lives and fortunes of HD Vest advisors? Roger Oches is getting out while the getting's good.

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Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh