A 15-year Fidelity veteran will take over as head of the company's RIA group.
Jack Callahan, formerly president of Fidelity Institutional Retirement Services, has been named president of the company's Registered Investment Advisor Group, Fidelity spokesman Steve Austin said.
Callahan will replace William C. Carey, who will leave the RIA group effective November 1 to serve as executive vice president of national accounts at Fidelity Investments Institutional Services, which is responsible for distribution of mutual funds and other Fidelity investment products to advisors, Austin said.
Carey, a 13-year veteran of Fidelity, has been president of the RIA group since July 2005.
As of the end of the third quarter, Fidelity Registered Investment Advisor Group had more than 3,300 RIA firms as clients, and $225 billion in assets under administration, Austin said.