Fusion Feature: Three former TD execs have big plans for small TAMP

After recapitalizing Fusion Capital Management, they are ready to invest in marketing and technology to accelerate growth

Three former TD Ameritrade executives are taking over a small turnkey asset management platform with hopes of turning it into a major player in the wealth management industry.

Bryce Engel, a former senior vice president and chief brokerage officer at TD who also served as president and chief operating officer of Penson Financial Services, is the new CEO of Fusion Capital Management, a TAMP headquartered in Dallas. Also joining the company's board of advisers are Asiff Hirji, who served TD as chief information officer, chief operating officer and president, and Wayne Ferbert, TD's former head of business development.

The three have completed a recapitalization plan that they said brings "significant liquidity and operational flexibility" to grow Fusion. The company has attracted $800 million in assets under advisement since it launched in 2011 — $600 million coming in the last two years — but Mr. Engel believes he can accelerate growth with an investment in marketing and technology.

"We think of it as putting the 'turnkey' back into the TAMP," Mr. Engel said. "Most advisers get into the space because they like to sell. These people want to be out there selling and growing their business. Our job is to make it easy."

Mr. Engel said his first goal is the successful launch of Elements, Fusion's next-generation technology platform. Elements is in beta testing right now and is scheduled to go live in the first quarter of 2018.

Mr. Engel couldn't provide many details, but said the platform is a mix of proprietary technology and partnerships with vendors like Orion and AdvisoryWorld. He added that Elements will feature self-help tools designed to make the technology easy to use for advisers.

Beyond technology, Mr. Engel's focus is on growing Fusion through partnerships in the independent RIA space. But some wonder... CLICK TO CONTINUE READING

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