Sierra Investment Management appoints Skip Schweiss as CEO


A year after leaving TD Ameritrade following its merger with Charles Schwab, Skip Schweiss has a new job in the RIA space.

The mega-broker-dealer’s former adviser pensions and defense chief joined Los Angeles-based Sierra Group of Cos. as the company’s first chief executive, effective Oct. 1, the company said.

Sierra Group includes $9 billion RIA Sierra Investment Management, which focuses on retirees and other conservative investors with a minimum of $1 million in assets, as well as Wright Fund Management, which manages mutual funds, and Ocean Park Asset Management. Sierra co-founders David Wright and Kenneth Sleeper will continue to lead the RIA business as managing directors and client-facing portfolio managers.

“We are thrilled to have someone of his caliber join us as our first CEO,” Sleeper said of Schweiss in a statement. ‘Skip understands the advisor business and the unique challenges advisors face on a level that few others do…While our recent growth is exciting, Skip can help us take it to the next level.’

Schweiss spent 12 years at TD Ameritrade, most recently as President of TD Ameritrade Trust Company and Managing Director of Advisor Advocacy. He joined TD in 2008 when the company acquired his former employer, Fiserv Trust Company, where he was Executive Vice President. He had previously spent 20 years in several management positions at Fiserv Investment Support Services.

Since January, Schweiss has served in a pro bono capacity as chair of the membership organization and professional group Financial Planning Association. Schweiss will step down from the role when his term ends in January 2022.

“I spent 30 years in a support role for consultancies on the custodial side of the business and was really excited about the possibility of moving to the adviser side. That’s what I really wanted to do, and it all fell into place with Sierra,’ he told Citywire.


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