Mark Tibergien
Industry Pioneer, Thought Leader and Expert Consultant
- Former CEO, Pershing Advisor Solutions
- Author of four industry books
- “Father of practice management”
Mark Tibergien is a nationally recognized expert on management, strategy, and transition issues within the financial services industry.
Mark's professional background spans Executive Leadership, Consulting, Training, Writing, and Speaking. He has led organizations from start-up to exit, from dynamic growth to turn-around.
Most notable is the merger of a training and consulting firm into Moss Adams LLP; the growth of Moss Adams into the leading authority on practice management for RIAs and broker/dealers; and the positioning of Pershing LLC to become one of the top three custody providers to RIAs and Family Offices in the United States.
He has also consulted with hundreds of independent registered investment advisors, broker-dealers, investment managers, insurance companies, and other financial services organizations in the United States, Australia, the United Kingdom, Europe, and Canada.
He currently serves as Advisor-in-Residence for Ernst & Young's Wealth & Asset Management Group; an independent director of Pathstone, a $160 billion multi-family office business and RIA sponsored by two Private Equity Firms; and as an Advisory Board Member of Commonwealth Financial Network, an Independent Broker/Dealer and Corporate RIA.
Career History and Impact
From 2008 to 2020, Mark served as Chief Executive Officer of Pershing Advisor Solutions LLC, an affiliate of Pershing LLC and a division of BNY Mellon (now BNY/Pershing). The company provides custody, clearing, and execution services to Family Offices, Wealth Management, and Investment Management firms. Under Mark's leadership, Pershing's RIA Custody Business grew from $40 billion of AUC in 2010 to more than $800 billion of AUC by the end of 2019.
Mark served as a member of Pershing LLC's Executive Committee, a member of BNY Mellon's Senior Leadership Committee, and a member of BNY Mellon's CEO's Advisory Council on Diversity, Equity & Inclusion.
Prior to joining Pershing, he was a Principal in the CPA firm, Moss Adams LLP, where he was Partner-in-Charge of the Business Consulting Group, Chair of the Securities Industry Group, and Partner-in-Charge of the Business Valuation Group. While at Moss Adams, he introduced the first industry benchmarking studies for both RIAs and Broker/Dealers, and the first compensation study for RIAs, all of which have been adopted or replicated by other leading custodians and fund companies.
He also wrote the industry's first book on valuing, buying, and selling advisory practices, which helped set the stage for the rapid increase in M&A activity within this space. Mark served on Moss Adams' Executive Committee and Compensation Committee from 1998 to 2004. He joined Management Advisory Services (MAS), Inc. in 1986 and became its president in 1989, leading the merger of MAS into Moss Adams in 1994. Beginning in 1975, Mark was a vice president and director of Willamette Management Associates, Inc.
Education
He received his formal education from Bay College in Escanaba, MI, and the University of Wisconsin, Stevens Point, where he majored in communications and journalism. He received his professional education from hands-on leadership roles within companies that provided tax and accounting services, financial management training, investment research, business valuation and consulting on strategy, structure, people, and process. Up until his retirement from Pershing in Spring 2020, Mark also held a FINRA Series 7 License and Series 24 FINRA General Securities Principal Qualification.
Awards and Recognition
At its 10th Anniversary “Wealthies” celebration in September 2024, judges for WealthManagement.com presented Mark with its first-ever Lifetime Achievement Award, recognizing him as the “father of practice management.” In 2017, a survey by Investment Advisor magazine recognized Mark as “The Most Influential Person in Financial Services,” and named him one of the “25 Most Influential People” fifteen times. Investment News recognized him in 2016 in its inaugural list of Icons & Innovators, and Accounting Today named him among the “100 Most Influential” every year from 1997 to 2005.
Books & Publications
He is the author of four books published by Bloomberg Press/Wiley & Sons: Practice Made Perfect (2005), How to Value, Buy or Sell a Financial Advisory Practice (2006), Practice (Made) More Perfect (2010), and The Enduring Advisory Firm (2016). Mark has also been a monthly columnist on business management topics for Investment Advisor/Think Advisor.
Management Philosophy
Tibergien is known as a practitioner of what he preaches, with deep experience in strategy, human capital, and financial management of closely held businesses. He has consistently demonstrated a commitment to people development and succession planning. In building Pershing Advisor Solutions, his focus on diversity and inclusion resulted in a workforce comprised of 51% women and 42% people of color, supported by a disciplined succession process. He has coached hundreds of individuals inside and outside the firms where he has worked.
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