BOSTON — Fidelity Clearing & Custody Solutions, the division of Fidelity Investments that provides clearing and custody to registered investment advisors (RIAs), retirement recordkeepers, broker-dealer firms, banks and insurance companies, today announced the appointment of David E. Canter as head of the registered investment advisor (RIA) segment, overseeing sales and relationship management. Canter succeeds Bob Oros, who left the firm in January after five years leading the RIA segment.
Matthew Chisholm, who previously reported to Canter as senior vice president of business analytics and consulting, will assume the leadership of the practice management and consulting group, which will continue to deliver one-on-one consulting, innovative programs that help meet client needs and future-thinking events to remain focused on generating new ideas and insights to help drive and evolve the wealth management industry.
"David has deep knowledge of the RIA business, community and our clients," said Sanjiv Mirchandani, president of Fidelity Clearing & Custody Solutions. "He is a trusted consultant and thought leader. David's fresh vision will continue to help our clients and talented associates succeed and grow today and in the future."
"Matt's ability to apply data and strategic insights to solve business challenges has made him a tremendous asset to our clients. He has a keen focus on capitalizing on growth opportunities and will continue to serve our clients well as he takes on this expanded role," he added.
Canter joined Fidelity in 2009 as chief operating officer for the RIA custody business. In 2010, Fidelity tapped him to strengthen and expand the practice management and consulting offering, focused on helping advisors accelerate growth, streamline their operations and manage risk. Under Canter's leadership, the practice management team has launched a number of groundbreaking programs, including an M&A Leaders Forum and M&A reports, RIA Benchmarking, the eLearning Exchange and "Mystery Shopping," among others. This is in addition to more than 900 consulting engagements with clients annually by the team of seasoned consultants with expertise in strategic planning, talent, technology and operations, managing risk, and driving growth through strategic client engagement.
"I am energized by the opportunity to evolve my career at Fidelity, while remaining focused on my passion for the RIA industry," said Canter. "And, I can think of no one more qualified than Matt to take on the leadership of the practice management and consulting organization. I look forward to partnering with Sanjiv and Matt to continue to support our clients' growth."
Fidelity Clearing & Custody Solutions has more than $1.7 trillion in assets under administration and serves more than 3,000 clients.
Note to Editors:
Biographical Information for David Canter
- In his new role, Canter is responsible for driving the execution and results of sales and relationship management for more than 2,500 RIA firms across eight territories throughout the U.S., overseeing more than 120 sales and relationship management professionals. See David's LinkedIn publisher profile here.
- In August 2010, Canter assumed the role of executive vice president and head of practice management and consulting.
- Canter joined Fidelity in 2009 as chief operating officer for Fidelity's custody business, where he was responsible for the oversight, efficiency and effectiveness of client-related operational processes. He was also the business lead coordinating legal, risk and compliance activities.
- Prior to joining Fidelity in 2009, Canter managed certain operational functions and vendor relationships and served as chief legal and compliance officer for Post Advisory Group, an institutional investment advisor in the high-yield realm.
- During an eight-year tenure with Charles Schwab & Co. beginning in 2000, Canter held various management positions of increasing responsibility within the firm's RIA business, including a corporate counsel role; vice president, Schwab Institutional Trading & Operations (SITO); and head counsel to the Schwab Institutional business.
- Previously, he held positions with the Quellos Group, an investment adviser focused on the fund-of-funds business, and the New York Stock Exchange Division of Enforcement.
- Canter received his bachelor of arts degree in political science from the University of Wisconsin in 1990 and his juris doctorate from the University of Baltimore School of Law in 1993.
- He currently holds his FINRA Series 24 license and is a member of the State Bar of California.
Biographical Information for Matthew Chisholm
- In his new role as head of practice management and consulting, Chisholm oversees a team of more than 20 practice management, technology & operations and business consultants, who work across all segments of the Fidelity Clearing & Custody Solutions client base.
- In 2016, Chisholm assumed the role of senior vice president of business consulting and analytics for Fidelity Clearing & Custody Solutions.
- He previously held the same position as part of National Financial (before the alignment of Fidelity's clearing and custody businesses).
- Chisholm joined Fidelity in 2006 and has more than 20 years of financial services consulting experience in both North American and European marketplaces, engaging with numerous global financial institutions, securities exchanges and information technology providers.
- Prior to joining National Financial, Chisholm was a strategy consultant with TowerGroup and Oliver, Wyman and Company.
- Chisholm received a bachelor of arts degree from Colby College in economics and finance in 1996.
About Fidelity Investments
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $5.8 trillion, including managed assets of $2.2 trillion as of January 31, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients' money. Privately held for 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.