The RIA consultancy has hired Barret Frost, who was formerly a vice president of Fidelity’s custody business and a recruiter at LPL
RIA consultancy Fusion Financial Partners has made a key hire from Fidelity’s custody business.
The Carlsbad, Calif.-based firm has hired Barret Frost to serve as its director of business development.
Frost most recently served as a vice president of sales for Fidelity’s clearing and custody division from December of 2017 until November after spending 14 years as a recruiter at LPL Financial. Frost left LPL amidst a larger exodus of recruiters from the independent broker-dealer, InvestmentNews previously reported.
Fusion Financial Partners’ managing partner, Mike Papedis, told Citywire that Frost will be responsible for idenitifying and supporting advisors that are ready to launch their own independent RIAs.
‘His role will involve acting as advocate, educator, tactical guide and negotiator for the advisor, to accelerate and simplify the process of choosing a custodian, technology vendors, compliance attorneys and other service providers for their new firms,’ Papedis said. ‘He will also play a central role in negotiating on advisors’ behalf if they are joining a larger RIA.’
Papedis was formerly HighTower’s top dealmaker and served as the RIA giant’s managing director of RIA acquisitions before he departed the firm in March of 2017 to found Fusion.
Fusion specializes in assisting RIAs as they start their business, eye acquisitions, develop succession plans and contemplate selling their practice. The firm employs six people — not including Frost — according to its website…