RIABiz reported on October 15 that the wealth unit of TD Bank, based in Mount Laurel, New Jersey, has hired Hardeep Walia, formerly of Charles Schwab, to serve as head of U.S. Wealth. According to the outlet, the unit has reached more than $8 billion in assets under management and $16 billion in assets under advisement. RIABiz said Walia is replacing Alan Chabot in the role.
TD Bank U.S. announced the appointment on October 13 in a press release distributed through Business Wire. According to the release, Walia joined the bank as head of U.S. Wealth with a start date of October 5, is based in New York, and reports directly to Leo Salom, president and CEO of TD Bank U.S. The bank said he will lead growth across its U.S. wealth business. According to the release, the position is meant to broaden holistic advice and financial planning, sharpen the digital investing offering, and tighten connections between the bank's banking and wealth services.
The release lists Walia's credentials as Series 7, 24 and 63 licences, an MBA from Wharton and a B.S. from Yale. It says he previously held senior leadership roles at Microsoft, served on FINRA's Technology Advisory Committee and Small Firm Advisory Board, and advised U.S. Bank's Ascent Private Capital Management. According to WealthTech Strategy, Walia launched Motif Investing and ran it as chief executive for roughly ten years, developing tools for thematic investing, direct indexing and technology-driven portfolio management.
Schwab later acquired Motif, according to Roi-NJ, which reported that Walia then built and led Schwab's Personalized Investing Engineering group before later leading enterprise AI for the firm. RIABiz reported that Walia left Schwab in August 2026. A Google Cloud events speaker profile, which is undated, lists him as Managing Director and Head of Firmwide AI at Charles Schwab. Schwab is headquartered in Westlake, Texas, and is led by President and CEO Rick Wurster.
The wealth business Walia is joining has several reported measures. RIABiz described the unit as reporting more than $8 billion in AUM and $16 billion in AUA, and said the TD Private Client Wealth entity reports an estimated $8.6 billion. An undated AdvisorCheck snapshot of the firm's regulatory data shows about $8.26 billion in AUM across 25,697 accounts. AdvisorCheck lists TD Private Client Wealth LLC as an SEC-registered investment adviser and a FINRA-regulated broker-dealer owned by TD Bank, National Association. TD's own U.S. wealth page cites more than $13 billion in AUM and more than $16 billion in AUA as of September 30, 2024. These figures come from different sources and dates and should not be compared directly. RIABiz also said TD's wealth clients need at least $3 million in assets.
Chabot's history with the unit is documented in earlier coverage. Roi-NJ reported in April 2020 that TD Wealth had named him head of U.S. wealth distribution, coming from Santander Securities. NJBIZ reported that he previously served as CEO of Chase Investment Services and held senior roles at Citi Private Bank and Smith Barney. RIABiz placed the hire within the TD franchise's broader reach, framing it as part of an effort toward a national franchise. RIABiz also noted that TD's wealth arm holds about $16 billion in AUA, compared with the $1.3 trillion that TD Ameritrade held before its sale to Schwab. The TD Ameritrade platform was fully shut down in May 2024, after its final accounts moved to Schwab.
The sources do not describe further hires, a timetable for expansion or changes to the wealth business beyond the goals set out in the TD Bank U.S. release. The discrepancy between the 2020 hiring records for Chabot and RIABiz's stated start date for him has not been resolved in the available material.