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Financial Planning > Behavioral Finance

LPL Marketing Chief Khoury Out as Firm Reshuffles Exec Lineup (Again)

By Janet Levaux

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Independent broker-dealer LPL Financial (LPLA) said Thursday that Chief Marketing Officer Joan Khoury is leaving the firm and that two executives will step into new roles within its Advisor & Institution Solutions Group.  

Mimi Bock will become managing director for Client Experience and Training, taking over responsibilities previously handled by Khoury, while Ryan Parker is being tapped as managing director for Investment & Planning Solutions (IPS).

LPL Financial says that most of its existing marketing functions and all of its training teams will be a part of the new CET group. The CMO position held by Khoury has been eliminated, and she will leave the company in late August. 

“We recognize the importance of always evolving to ensure the right people and positions are in place to meet the expanding opportunities within the marketplace and enhance the client experience,” said Robert Moore, president of LPL Financial, in a statement.

These changes come about six weeks after LPL Financial named a new head of its Independent Advisor Services unit: Bill Morrissey.

Morrissey replaced Derek Bruton, who retired from the independent broker-dealer in early April, after it expressed “concerns over his interactions with other employees.” Burton had been a managing director since 2010.

“I want to recognize Joan Khoury for all her contributions to LPL Financial during the past two years, and thank her for staying on to assist in the transition, including leading us into focus14, our premier advisor conference. We wish her well in her future endeavors,” Moore added.

Previously, Bock was executive vice president of Independent Advisor Services business consulting. She joined LPL Financial in 2012 from Morgan Stanley (MS).

Parker earlier served as executive vice president of IPS for LPL, which he joined in 2013 from Russell Investments. Khoury joined LPL in February 2012 from Bank of America-Merrill Lynch (BAC).

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