TD Ameritrade Institutional announced Friday that Peter Dorsey will replace Tom Nally as managing director of institutional sales for the Jersey City-based RIA custodian. The position became available after its previous holder, Tom Nally, was named president of TDAI in early February immediately following Tom Bradley’s move to head TD Ameritrade’s retail operations.
Dorsey (left) joined TDAI seven years ago, and most recently held the position of director of sales for business development for TDAI’s western region. Prior to joining TD, Dorsey held executive positions at Fidelity Investments and Bear Stearns.
In his new role, Dorsey will oversee all TDAI sales functions including advisor recruitment, practice management consulting, relationship management and sales strategy.
In an interview Friday afternoon, Nally called Dorsey “a fantastic guy” who’s worked in the advisory space for 15 years, characterizing him as “a student of the business,” a “strategic thinker” and a “great relationship builder.” He further said Dorsey has gained the respect of his peers at TD Ameritrade and among advisors.