San Francisco-based Parallel Advisors has announced the hire of Relura Horton as the firm's new president and chief operating officer.

Horton most recently served as regional managing director of the West Coast for Fidelity Custody and Clearing Services.

“Our appointment of Relura Horton as president and COO of Parallel Advisors is the latest senior hire in a long-standing organizational strategy we have had in place since our firm's inception,” said C.J. Rendic, CEO and principal at Parallel Advisors, in a released statement. “Relura joins a deep bench of C-suite appointments we have made over the past several years that not only meet our current business needs, but have helped us to anticipate and get ahead of future strategic priorities and broader industry trends.”

At Parallel, Horton will help drive the firm’s strategic growth plan, which aims to expand the firm’s AUM to $10 billion within seven years through the recruitment and retention of successful advisory practices.

David DeVoe, managing partner of advisory consultant DeVoe & Company, said that Horton’s experience makes her well-suited to helping Parallel achieve its goals.

“Companies in this mode need to hire well and hire ahead of the curve,” DeVoe said in a statement. “Relura's intimate exposure to many dozens, if not hundreds, of the best managed RIAs will provide Parallel Advisors with the expertise to take the firm to the next level."

Currently, Parallel has $1.3 billion in AUM and offices in San Francisco; Denver; and Dayton, Ohio,