Robert “RJ” Moore, a former top executive of LPL Financial and Cetera Financial Group, has been named CEO of Morristown, New Jersey-based Private Advisor Group, LPL Financial’s largest affiliated hybrid RIA, with more than 650 advisors in 38 states and more than $21 billion in assets under management.
The appointment represents a return to the industry for Moore, who stepped down as CEO of Cetera for health reasons in early 2019 after joining that firm in 2016. Before that, he was president of LPL from 2012 to 2015 and its chief financial officer from 2008 to 2012.
Moore will also “acquire a significant equity stake” in PAG, the firm said without disclosing the financial terms of the anticipated investment.
PAG co-founders, lead shareholders and advisors John Hyland and Pat Sullivan will continue as key members of the firm’s senior executive leadership team. The firm did not have a formal CEO position until now.
The addition of Moore follows the appointments of Jim Hooks as chief compliance officer and Berta Aldrich as chief marketing officer last year.