XY Planning Network (XYPN) has initiated a nationwide search for a new president, as Vince Hockett prepares to retire in spring 2027 after a seven-year tenure at the fee-only advisor network. Hockett, who joined XYPN in March 2020 as chief revenue officer, has overseen a period of substantial growth: membership has climbed from roughly 1,172 advisors to 2,401, and those advisors now serve more than 100,000 clients, according to the firm.
Hockett's leadership has coincided with a shift in the network's focus. While XYPN remains a launchpad for new advisory firms—110 new firms are currently pursuing RIA registration with its compliance team—more than two-thirds of the network's members have moved beyond the startup phase. That evolution prompted the creation of Sapphire, XYPN's corporate RIA affiliation platform, in 2024. Sapphire has since surpassed $1 billion in assets under management and now counts 52 advisors serving more than 800 client households.
The firm's monthly membership offering, Emerald, has also expanded its technology and partner tools during Hockett's tenure. Co-founder and CEO Alan Moore credited Hockett with scaling the organization. "Vince guided XYPN through a period of extraordinary growth, and positioned us to support a Network that has more than doubled in size," Moore said in a statement. "We're entering this search with real momentum and an immense opportunity to continue expanding what's possible for independent advisors." XYPN plans a transition period that will allow the incoming president to work alongside Hockett before his departure.
SEI Appoints Former LPL Technology Chief as CIO
SEI has named Kristie Edling-Day as its new chief information officer, reporting to CEO Ryan Hicke, who previously held the CIO role before becoming CEO in June 2022. Edling-Day will oversee SEI's technology and product organization, including platform modernization, digital transformation, and cybersecurity governance, and will own the firm's multiyear technology and product roadmap.
Edling-Day joins SEI from LPL Financial, where she served as executive vice president and CIO for advisor technology and enterprise production operations, managing technology used by approximately 32,000 financial advisors. At LPL, she helped define the firm's enterprise AI strategy and led its early rollout. Before LPL, she spent 17 years at Vanguard, where her roles included CIO of intermediary technology and chief product and information officer for financial advisor services.
Hicke highlighted Edling-Day's "exceptional combination of technology expertise, strategic vision, operational discipline, and deep financial services experience," adding that she "will be instrumental in advancing our technology and product strategy, accelerating responsible AI and data innovation across the enterprise, and helping us build the capabilities that will define what's next for SEI." Edling-Day's move marks the second departure from LPL's tech leadership this week; Choreo, the Chicago-based RIA led by CEO Jason Van de Loo, hired Gabriel Rodriguez, formerly LPL's senior vice president of technology overseeing its ClientWorks advisor workstation system, as its new chief technology officer.
TD Bank U.S. Hires Schwab AI Executive for Wealth Division
TD Bank U.S. has appointed Hardeep Walia as head of U.S. wealth, effective Oct. 5. Based in New York, Walia will report to Leo Salom, president and CEO of TD Bank U.S. The appointment follows TD Bank's 2025 plan, announced after paying a $3 billion penalty over anti-money-laundering shortfalls, to grow its wealth management business by hiring more advisors in the U.S.
Walia founded Motif Investing, a brokerage and investment management platform offering thematic portfolios and direct indexing, which he ran for a decade. After Charles Schwab acquired Motif, Walia built and led Schwab's personalized investing engineering group and later headed enterprise AI at the firm. He previously held senior roles at Microsoft and has served on FINRA's Technology Advisory Committee and Small Firm Advisory Board, and advised U.S. Bank's Ascent Private Capital Management.
Salom said Walia's "ability to translate innovation into trusted, scalable client solutions will be vital as we grow our advice-led relationships, strengthen our digital investing capabilities, and deliver more personalized experiences for clients." Walia said he plans to combine advice, technology, and the bank's broader resources. "I look forward to working across the bank to deepen client relationships and make financial advice accessible to more people at every stage of their lives," he added.
BMO Adds CIBC Private Banking Veteran in Illinois
BMO Wealth Management has hired Kenneth Shogren as regional president for Illinois, effective Oct. 8. In this role, he will lead the firm's largest private bank market and coordinate with BMO's U.S. banking and capital markets teams to serve clients in the Chicago area and across the state. Shogren brings nearly 20 years of experience in private banking, commercial banking, and executive leadership. Most recently, he led CIBC Bank USA's private banking team, managing client-facing teams nationally along with credit oversight. Before that, he was chief of staff to CIBC Bank USA's CEO, helping steer strategic work tied to the integration of The PrivateBank.
These leadership moves come as the wealth management industry continues to see significant personnel changes. For context on recent advisor recruiting trends, see this roundup of advisor moves. Additionally, as firms invest in technology and AI, the demand for tech-savvy leaders like Edling-Day and Walia is likely to persist, echoing broader shifts in retirement planning strategies.
