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Practice Management > Building Your Business

Apex Clearing Names Tricia Rothschild, Ex-Morningstar Exec, as President

By Janet Levaux

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Apex Clearing — a custody and clearing engine — has hired Tricia Rothschild as its president. Rothschild was chief product officer and co-head of Global Markets at Morningstar, where she worked for 26 years.

The firm also tapped Tom Valverde, an RIA sales and custody veteran of Fidelity Institutional and BNY Mellon’s Pershing, for the newly created role of general manager, Advisory.

The news comes the custodial space is set for the wrap-up of its biggest deal to date — Charles Schwab’s $26 billion purchase of TD Ameritrade, which is expected by year end. 

“The market wants a new and differentiated option, and Apex is all in,” according to Apex CEO Bill Capuzzi. “This is the perfect time for us to focus on a multi-channel approach … as we continue to see the shift toward consolidation within the advisory business and the firms that serve them.”

Rothschild, recognized as one of the top Women in WealthTech in 2019 by ThinkAdvisor, helped found the national Women in Wealth Management program. She is an advisor and board member for the CFA Institute and a small portfolio of fintech firms. She retired from Morningstar in January.

“I’m elated to be joining Bill and his leadership team as president,” Rothschild said in a statement. “The opportunity to build for scale while ensuring that Apex’s employees and its customers are always front-and-center is extremely energizing,”

Last week, Orion Advisor Solutions — which works with some 2,000 advisory firms — rolled out a new client portal that is integrated with Apex technology, such as its account opening APIs.

— Related on ThinkAdvisor:

Janet Levaux

@Think_JanetL

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