Mark Tibergien was at the center of the Pershing INSITE 2017 orbit that sparkled like the San Diego weather with innovation, fresh faces and the sense of a better future.
Yet the CEO of Pershing Advisor Solutions also spoke openly about how his part in that future is starting to near its end.
Tibergien plans to let somebody else fill his shoes in three to five years at the outside.
“My goal has always been to build the business and ensure an orderly transition,” he said during an interview.
Part of Tibergien’s plan to ensure an orderly transition is being executed already. Tibergien is grooming succession candidates and testing out their ability to work as a team. Those CEO prospects must meet regularly and collaborate with each other; otherwise, they are out of the game, he added. Sources say that Ben Harrison and Gabe Garcia are among the people who work closely with Tibergien.
Gabe Garcia is one of the visible members of a new generation of leadership that may assume greater responsibilities as Tibergien charts an exit.
Pershing currently works with 560 firms. Pershing’s clientele has an impressive $350 million average AUM and $750 million median AUM. Pershing does not work with solo advisors or part-timers, and only professional firms that serve wealthy clients and its minimum AUM remains $100 million.