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Chief Market Strategist Ryan Detrick Leaves LPL

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Ryan Detrick left LPL Financial last Friday after spending two years as its chief market strategist and over six years with the firm. He expects to announce his next career move soon.

In a June 26 announcement on LinkedIn, Detrick indicated he had had his last day with the broker-dealer two days earlier and said he “wanted to say thank you to a great company for an amazing 6.5 years.”

Describing himself on his profile as “on summer break, but coming back soon,” Detrick didn’t say where he’s going or what he’s doing next but indicated he’d get started soon. While expressing gratitude to LPL, he suggested that he and the firm were no longer an ideal fit.

“I’ll leave what is next for another time, but I’m excited about it and it’ll be out soon. As anyone who has been to an LPL conference lately knows, we are touting our Research team as being more institutional. This is the right move for LPL, but doesn’t fit my brand,” he wrote.

“If you’ve ever seen me present, dress up silly for a video, or tell a stupid joke on my podcast, I’m just not meant to be institutional. They’ve hired some great employees lately that fit this direction and I can’t wait to see the department continue to grow. I’ll be cheering for them – plus I own some shares so they better keep growing!” he added.

“We wish the best for Ryan and appreciate the many contributions he has made during his tenure with LPL,” an LPL spokesperson said via email Friday. Detrick said Friday via a LinkedIn message that he starts his next job later this month but can’t talk about it yet.

Detrick noted in his post that LPL has successfully managed more than $70 billion in assets under management even as the research team went from 50 people when he started to approximately 20 now.

He said he “had a blast” managing the high-performing technical equity model with Scott Brown, LPL senior analyst and technical marketing strategist, and added that Brown has a bright future.

Detrick also noted that LPL’s stock “hit $16 soon after I started in early 2016, but closed at $118 on Friday. That is something we all can be proud of for sure.”

He thanked several people currently or formerly at the firm, including LPL President and CEO Dan Arnold, equity strategist Jeff Buchbinder and portfolio manager and asset allocation strategist Barry Gilbert.

Detrick also thanked former LPL managing director and chief investment officer Burt White, who recruited him to LPL years ago and left the firm this year to become managing partner and chief strategy officer at Carson Group, and Comerica Wealth Management CIO John Lynch, formerly LPL chief investment strategist.

“I’ve been told by some that leaving LPL is like taking an escalator down,” Detrick wrote. “I fully agree that LPL is on the up escalator, but I’d like to think I’m just ready to get on another up escalator.”

Pictured: Ryan Detrick