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Financial Planning > Behavioral Finance

LPL Nabs Microsoft Exec to Lead Advisor Solutions

By Jeff Berman

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LPL Financial has appointed Ed Fandrey, a fintech veteran and executive at Microsoft, to the newly-created role of managing director and divisional president for the firm’s new Advisor Solutions team.

Fandrey will lead LPL’s “strategic plan to expand engagement with advisors, partnering with them to utilize the firm’s evolving affiliation models, optimally leverage its tools and capabilities, and fully support their growth initiatives and other business needs,” the company said Tuesday.

He will be based at the firm’s campus in San Diego, California, and report to President & CEO Dan Arnold.

“Ed is a transformational leader with deep fintech experience, having spent 21 years leading technology and sales organizations at Microsoft,” Arnold said in a statement.

“At LPL, he’ll help us create compelling ways to address our advisors’ unique needs and learn from their creative ideas in the spirit of developing innovative solutions that help them win in the marketplace,” the CEO added.

The news comes about six weeks after LPL said it was buying Waddell & Reed’s wealth management business, which includes close to 920 financial professionals with $63 million in client assets.

For the past four years, Fandrey has served as a financial services executive at Microsoft, first as general manager starting in 2016 and then as vice president-financial services U.S. since 2017, according to his LinkedIn profile.

In the latter role, he led an organization of sales, support, technology and customer success professionals, “driving client-centric digital transformation across leading banks, insurance companies, hedge funds and capital markets firms,” LPL said.

He joined Microsoft in 2000 as a technical specialist and later became a senior enterprise account executive before being promoted to the role of  global sales director for BNY Mellon in 2007, enterprise sales director for New York in 2011 and then chief of staff for Microsoft’s chief operating officer in 2013.

At Microsoft, “I’ve helped teams drive transformation and grow by listening to the voice of the customer and leveraging that feedback to either enhance existing capabilities or build new ones,” according to Fandrey.

“I’m excited to bring the same passion and discipline to my new role at LPL leading Advisor Solutions, and look forward to contributing to the firm’s mission of taking care of its advisors so they can take care of their clients.”

LPL had about 17,300 affiliated advisors at year-end 2020.

See: LPL Eyes Midwest Base With Waddell & Reed Deal

Jeff Berman

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