Fidelity Investments yesterday named Ronald P. Fiske Jr. to lead its Institutional Wealth Services arm, a $340 billion business that provides trading, custody and brokerage services to registered investment advisors (RIAs), trust institutions and third-party administrators.
As part of his new role as executive vice president of product development and management, Fiske, 46, will head Fidelity's new HybridOne program that serves both commissioned and fee-based advisors. The program, which was announced this week, unifies existing platforms used by RIAs affiliated with Fidelity Institutional Wealth Services and by broker/dealers at its National Financial business. It gives hybrid advisors, or dually-registered advisors, access to investment products, technology and practice management support.
Prior to joining Fidelity, Fiske spent more than eight years at Pershing LLC, including the last four as managing director of the company's product management and development group that served broker/dealers, RIAs and other clients.
Before that, Fiske was senior vice president and director of brokerage at WIT Capital Corp., where he led the trading, customer service and operations areas.
Fiske will report to John W."Jack" Callahan, president of Fidelity Institutional Wealth Services.