The Financial Services Institute announced Thursday the election of two new directors for its board, replacing two other high-profile independent broker-dealer executives.
Derek Bruton (left), managing director and national sales manager for the largest independent BD, LPL Financial (LPLA), will replace Bill Dwyer of LPL, while Seth Miller, president of Transamerica Financial Advisors, replaces Jim Livingston of National Planning Holdings.
FSI said Dwyer and Livingston had resigned earlier this month from the board, following “personal career changes which affected their eligibility to serve on the board.”
Earlier this month, LPL announced that Dwyer would be stepping down as LPL’s president of national sales in favor of Robert Moore, the former CFO of the broker-dealer and president of LPL’s Advisor and Institution Solutions division, and that Dwyer would later this year become president of the LPL-sponsored charitable group Invest in Others.
Livingston was president and CEO of National Planning Holdings, the independent broker-dealer network affiliated with Jackson National Life Insurance Co. that comprises INVEST Financial, Investment Centers of America, National Planning Corp. and SII Investments. Livingston moved to a new position in operations within the Jackson organization. Clifford Jack, head of retail for Jackson National, is serving as interim president and CEO of NPH.
Read As LPL’s Dwyer Steps Down, Moore Steps In on AdvisorOne.