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Industry Spotlight > RIAs

Skip Schweiss Lands a CEO Gig

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What You Need to Know

  • The FPA president and former TD Ameritrade exec will start his new role, as the group's first CEO, on Oct. 1.
  • Schweiss says he joins Sierra at a time when the firm is experiencing significant growth among advisors.
  • He will focus on business growth along with demonstrating the value of the firm's strategies for individuals, mutual funds and TAMPs.

Sierra Investment Management said Tuesday that it has named Skip Schweiss CEO of the Sierra Group of Companies, a newly created role.

Schweiss, who became president of the Financial Planning Association on Jan. 1, is the former president of TD Ameritrade Trust Co. and managing director of advisor advocacy for TD Ameritrade Institutional.

He will start his new role at Sierra effective Oct. 1, and will focus, according to the firm, on its continued growth as well as “demonstrating the value of Sierra’s investment strategies designed for individual investors, mutual funds and turnkey asset management platform (TAMP) models.”

“I’m joining Sierra at a time when the firm is experiencing significant growth, especially within the financial advisor community with the Sierra Mutual Fund and Ocean Park Asset Management investment offerings,” Schweiss said in a statement. “Sierra is trusted by advisors and seeks to keep investors out of trouble through challenging market cycles. I’m honored to be the firm’s first CEO and look forward to playing a role in its continued growth.”

Sierra bills itself as a firm focused on mitigating downside risk through its tactical investment disciplines. Its co-founders, David Wright and Kenneth Sleeper, will remain focused on the investment management side of the business, working with clients and other duties, the firm said.

Schweiss told ThinkAdvisor in a previous interview that while the new year will include serving as FPA’s president, a volunteer role, he was getting “a bit more active” in pursuing another professional position since leaving his former job at TD Ameritrade in late August.

Schweiss said then that he was “really interested in helping an RIA firm to grow.”

Charles Schwab’s acquisition of TD Ameritrade closed last October.

Before joining TD Ameritrade Institutional, Schweiss spent 20 years in various management positions within Fiserv Investment Support Services, including executive vice president of Fiserv Trust Co., which was acquired by TD Ameritrade Holding Corp. in 2008.

The Sierra Group of Companies comprises Sierra Investment ManagementOcean Park Asset Management and Wright Fund Management LLC, which manages the Sierra Mutual Funds, which include Sierra Tactical Core Income FundSierra Tactical Bond Fund and Sierra Tactical Risk Spectrum 50 Fund.

The Sierra Group manages or advises over $9 billion in assets for clients.