Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > Behavioral Finance

LPL Reshuffles Executive Team

Your article was successfully shared with the contacts you provided.

LPL Financial announced Wednesday that it is reshuffling its executive management team.

In what LPL Chairman and CEO Mark Casady says are actions designed to “better align management responsibilities to the changing needs of financial advisors and institutions, and to the dynamic growth opportunities available in the marketplace for financial services,” Robert Moore, LPL’s current CFO, has been named president and COO for LPL Financial effective May 1, replacing Esther Stearns; Stearns will now become CEO of a new LPL subsidiary, “LPL New Venture.”

Moore will remain CFO as LPL undertakes an executive search process to fill the role.

The New Venture subsidiary to be headed by Stearns will provide what LPL says are “a compelling set of services to advisors who are new to the industry and who are dedicated to serving the mass market, which the LPL believes is currently underserved by professional financial advice.”

Stearns said in a statement that LPL will share additional details in the coming months about what she called the “entrepreneurial new subsidiary, which will build on LPL Financial’s platform of services for new advisors—many of whom are embracing rapidly expanding opportunities in the mass-market segment.” As LPL develops this new business, she said, “the way we support our existing advisors will only be enhanced.”

Another move will include Bill Dwyer’s role as president of national sales being expanded to include oversight of the firm’s sponsor relations.

LPL says Dwyer will continue to be responsible for all aspects of Independent Advisor Services and Institution Services business development, including attracting new financial advisors and institutions to the firm, as well as retaining and promoting the growth of existing business through oversight of key resources such as business consulting, advisor-facing technology, business engineering and sponsor relations.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.