Pecoraro succeeds Phil Cunningham, who had served in the role since January 2014. He was living in another city, and the commute took a toll on him that resulted in the leadership change, Pecoraro said. Cunningham will consult with Pecoraro through the transition.
In February, Pecoraro was named president and chief operating officer of Advicent. She has served as chief operating officer since January 2015, and before that was senior vice president. Pecoraro has been taking on an increasing level of leadership responsibility over the four years she has worked with Cunningham.
Pecoraro worked at Wauwatosa-based insurance broker software company Zywave from 2002 until Advicent split off from the company in 2013. She holds an MBA from Alverno College and a bachelor’s in entrepreneurship from the University of Wisconsin-Whitewater.
In her new role, Pecoraro will also continue to be responsible for the functions she covered in her previous role.
“As I’ve been part of the executive team for some time, my vision has been captured already,” Pecoraro said. “My platform has been very much focused on customer experience and customer success, so I’m really looking forward to driving that higher and further for our business and our customers.”
Advicent is planning several product releases and new partnerships for 2017, she said.
“We’re very excited about all of that momentum and looking forward to a very successful year and a bright future,” Pecoraro said. “We’re very confident and excited about the team that we have today. We’ve been working together for some time.”
Advicent has about 300 employees globally, about 185 of whom are based at the Wauwatosa headquarters.
The company is growing as a result of staying ahead of consumer trends and client demands, she said.
“Our industry is very dynamic and a lot of what we’re seeing is the firms that we do business with, the advisors and the clients, really demanding a digital experience to help them manage their financial health,” Pecoraro said.
Advicent, which does not disclose its annual revenue, does business with about 4,000 financial services firms and has 150,000 active licenses worldwide. It has more licenses than its top three competitors combined, a spokesman said.
“It’s been an honor to lead Advicent for the last three years and be part of a team that is truly forward-thinking,” Cunningham said. “Having worked so closely with Angela, I have nothing but confidence in her ability to move Advicent forward. Advicent is positioned for success as the market leader in enterprise-level financial software, and I remain committed to Advicent’s mission.”