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LPL Exec Burt White to Retire

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What You Need to Know

  • White joined LPL in 2007 and is its managing director, Investor and Investment Solutions, and chief investment officer.
  • The popular executive entertained advisors at the firm’s recent online conference while working out on an “LPLoton.”

LPL Financial says Burt White  managing director, Investor and Investment Solutions, and chief investment officer  will retire in late March 2022, and it plans to start an executive search for its new wealth management leader soon.

“Burt has played an integral role in LPL’s journey to enhance the advisor experience, elevating the firm’s research, wealth management, product and platform capabilities. He will be missed by advisors and employees alike,” according to President & CEO Dan Arnold.

“Burt will be with us through the end of next March to ensure a seamless transition,” Arnold said in a statement. “We are grateful for Burt’s steady leadership over the last 14 years and wish him the best in his future endeavors.”

White joined LPL in 2007, after spending 10 years as a managing director and director of research for Wachovia Securities. He has been in his current role since early 2017 and is responsible for LPL’s research, marketing, products and investment platforms.

“LPL has been far more than a place of work. It has been the inspiration for my career journey, a big piece of who I have become and a place where I have been privileged to work with some of the most talented people in the industry,” according to White.

“I couldn’t be prouder of what the firm has accomplished and remain humbled by the dramatic impact its advisors continue to have on helping millions of American families achieve their life’s aspirations,” added the popular executive, who entertained advisors at the firm’s recent online conference while working out on an “LPLoton.”

In the second quarter, LPL’s total assets topped $1 trillion for the first time, rising 46% from $762 billion a year ago to hit $1.11 trillion.

The firm also reported that its Q2 advisor headcount surpassed 19,000 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. The number of net new advisors in Q2 was 1,442, including more than 900 advisors from Waddell & Reed and 200-plus advisors from M&T Bank.