Separately, the firm said that Petra Barone is assuming a new role as head of finance. 

The CFO role has expanded and Barone previously held the CFO position, a spokesperson for the firm told this publication.

As CFO, Schorr's responsibilities cover leading the strategy for the finance and accounting teams, helping oversee the firm's capital strategy and investments, developing robust financial metrics and business intelligence, and engaging with stakeholders. Barone will oversee advisor compensation, advisory fee billing, accounts payable and treasury functions, and continue to serve as the primary liaison with key sponsor and compliance partners.

Based in Charlotte, North Carolina, Schorr brings more than 17 years of financial services experience to the team. He has held a variety of leadership posts at LPL Financial focusing on financial planning and analysis. He most recently served as senior vice president technology strategy, business operations – chief of staff to CIO.

Founded in 1997 in Morristown, New Jersey, Private Advisor Group had more than $25 billion in assets under management as of December 31, 2022.