Jim Dario, the former head of sales at Pershing Advisor Solutions, has joined TD Ameritrade Institutional as managing director of product management and head of strategy, the company announced last week.
“[Mr.] Dario will oversee new product introductions and the delivery of key solutions including technology integrations, business development tools and investment management products,” TD Ameritrade said in a statement.
The No. 3 player in the registered investment adviser custody business, TD Ameritrade serves more than 4,000 advisers with about $180 billion in assets.
Pershing Advisor Solutions, the No. 4 player, holds more than $100 billion in custody for 540 advisers.
“As an industry veteran who has worked in the trenches with advisers, Jim brings a deep understanding and appreciation for the unique challenges and opportunities RIAs face today,” Tom Nally, president of TD Ameritrade Institutional, said in the statement.
STEPPING INTO HIS SHOES
Tom Valverde, formerly the director of the central region for Pershing Advisor Solutions, has been promoted to head of sales and relationship management at that firm, succeeding Mr. Dario.
“This is a win-win-win for everybody,” Mark Tibergien, chief executive of Pershing Advisor Solutions, said in a statement. “It gives Jim a new career challenge after having done much the same thing for the past 20 years, [it] gives TD somebody with great industry experience” and it allows Pershing to “make some moves we've been contemplating for some time.”
Mr. Valverde was recruited to Pershing Advisor Solutions by Mr. Dario three years ago and groomed to take over as head of business development, Mr. Tibergien said.
djamieson@investmentnews.com Twitter: @dvjamieson
