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May 13, 2020 at 12:36 PM
A view of Austin, Texas. (Photo: Shutterstock)
LPL Financial says it is hiring for a new technology hub in Austin, Texas.
While the independent broker-dealer’s location should have more than 100 employees, the tech center will by no means be as large as its two campuses in San Diego and in the greater Charlotte, North Carolina, area.
“We believe technology is a strategic asset to our advisors’ businesses [and] … are committed to ensuring we have a leading workforce that can deliver on that goal,” according to Managing Director and Chief Information Officer Scott Seese.
“With its thriving startup environment, Austin is a great place to find talented, purpose-driven employees with advanced skills and innovative mindsets,” Seese added.
LPL’s tech center will be built in Paloma Ridge, which is part of northwest Austin.
The IBD spent some $150 million on technology last year but has not shared its anticipated 2020 tech budget; its overall general and administrative budget for this year should be $915 million to $940 million.
“It’s a bold move especially given the uncertainty around what things will look in terms of returning to work, but it makes sense to go where the talent is and where real estate is less expensive,” said Gavin Spitzner, head of Wealth Consulting Partners.
