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LPL Nabs JPMorgan Exec to Lead Advisor Services

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What You Need to Know

  • Former JPMorgan executive Corey Staten will lead the advisor services unit at LPL.
  • The announcement comes after the firm ended the second quarter with more than $1 trillion in total assets for the first time.

LPL Financial has hired former JPMorgan executive Corey Staten to lead its advisor services unit.

In the role, Staten will be in charge of LPL’s Service Center, Specialized Service Teams, Technical Support Help Desk, New Advisor Care Team and Care Transformation for Service effort. 

He reports to LPL Chief Customer Care Officer Dayton Semerjian, will be based in LPL’s San Diego office and succeeds Tim Hodge, who joined LPL in 2015. 

“Corey is a passionate and strategic leader with a depth of experience designing and delivering client-centric service experiences for a large client base,” said Semerjian in a statement.

“Importantly, [Staten] appreciates the balance between human and digital engagement to do more than just deliver, but delight clients, and the continuous improvement that requires,” he explained.

Staten worked at JPMorgan for nearly three years, where he was responsible for its Merchant Services Operations. Earlier, he held leadership roles at Charles Schwab from 2013 to 2018 and at American Express from 2001 to 2013.

“I am honored to join the LPL family and work closely with the talented care organization employees, all of whom support the quality advisors, RIAs and institutional programs who call LPL home,” according to Staten.

“As a leader, [Staten] has steered diversity recruitment strategies and initiatives on career pathing, incentives and talent management, understanding that great employees power a great advisor experience. Corey will be a tremendous asset to our team and our clients to support our mission and be the industry leader in client care,” Semerjian added.

LPL made the announcement one day before it kicks off its yearly focus conference, which is being held online from Wednesday to Friday. On Monday, it lowered the investment minimum for its Optimum Market Portfolios platform to $1,000 from $10,000.  

In the second quarter, LPL’s total assets exceeded $1 trillion for the first time, rising 46% from $762 billion a year ago. The firm also reported that its advisor headcount surpassed 19,100 advisors to end the period at 19,144  up 13% from just under 17,000 a year ago and up 8% from roughly 17,700 in the prior quarter. 

(Pictured: Corey Staten)