David Canter, head of practice management and consulting at Fidelity Clearing & Custody Solutions, will replace Bob Oros as head of the firm’s registered investment advisor business. Oros left Fidelity in January after five years leading the RIA business to become CEO of H.D. Vest, an independent broker/dealer that focuses on tax professionals. Matthew Chisholm, senior vice president of business analytics and consulting, will take over the practice management and consulting group. Canter joined the firm in 2009 as chief operating officer of the RIA custody business. He spearheaded many practice management initiatives, including the M&A Leaders Forum and M&A reports, RIA Benchmarking, and “Mystery Shopping.” Previously, Canter worked for Charles Schwab’s RIA business.
Morgan Stanley Launches Two SRI Model Portfolios
Morgan Stanley Wealth Management has launched two sustainable investing model portfolios—Investing with Impact Access Balanced and Investing with Impact Access Equity—on the broker/dealer's Investing with Impact platform. There is an account minimum of $10,000 for each of the portfolios, which come at a time when large b/ds, generally, are looking to address broader client interest in socially responsible investing (SRI). Morgan Stanley's new offerings include mutual fund and ETF investments, and are a part of over 140 products available on the Investing with Impact platform, which launched in 2012.
Family Office Group Joins Morgan Stanley In Palo Alto
A six-member team in California that specializes in servicing family offices and institutions recently joined Morgan Stanley. The StennerZohny Group, previously part of Richardson GMP Limited, Canada's largest independent wealth management firm, is now part of Morgan Stanley's Graystone Consulting. Thane Stenner, the StennerZohny Group's managing director, has more than 29 years of experience with family offices and ultra-high-net-worth clients. He previously was a first vice president at CIBI and was the managing director of Merrill Lynch International Private Client Group. Youssef Zohny has more than 12 years of experience advising similar clientele.