Former Fidelity RIA chief Bob Oros has been named CEO of HD Vest Financial Services, a top broker-dealer specializing in helping tax accountants expand into full-scale financial planning. He succeeds industry veteran Roger Ochs.

Oros will take over as CEO of the Irving, Texas-based company on Feb. 28.

He is set to leave Fidelity Clearing & Custody Solutions, the country’s second-largest custodian, at the end of this month after a five-year stint. His next move was the source of much industry speculation after his abrupt departure from Fidelity, which said Oros would pursue “a unique, new professional challenge.”


HD Vest’s parent company, Blucora, hired Oros, 51, to replace 30-year Ochs as CEO. Ochs plans to step down at the end of next month, though he will remain at the company to help with its transition through March 31.

HD Vest Financial Services CEO Bob Oros
Bob Oros

Ochs had said in June that the company would add another 580 brokers in 2016 to its pool of 5,600 nationwide. Meanwhile, Oros led a team of seven regional managing directors overseeing nearly 3,300 RIAs while at Fidelity.

“His experience in building adviser relationships will be instrumental to HD Vest’s future,” Blucora CEO John Clendening said in a statement included in a news release. “Under Bob’s leadership, the HD Vest team will continue to innovate and provide tax professionals and independent financial advisors with the right solutions to meet and exceed their clients’ needs.”

“HD Vest pioneered the idea of tax-smart wealth management services through tax professionals,” Oros said in the release. “I am thrilled with the opportunity to lead the innovative team at HD Vest and look forward to working with the firm’s advisers.”

Representatives for Blucora didn’t immediately make Oros available for an interview.

Tobias Salinger is an Associate Editor for Financial Planning, Bank Investment Consultant and On Wall Street.