Independent broker-dealer LPL Financial says Chief Marketing Officer Joan Khoury is leaving the firm and that two executives will step into new roles within its Advisor & Institution Solutions Group. Mimi Bock will become managing director for Client Experience and Training, taking over responsibilities previously handled by Khoury, while Ryan Parker is being tapped as managing director for Investment & Planning Solutions (IPS).
LPL Financial says that most of its existing marketing functions and all of its training teams will be a part of the new CET group. The CMO position held by Khoury has been eliminated, and she will leave the IBD in late August.
These changes come about six weeks after LPL Financial named a new head of its Independent Advisor Services unit: Bill Morrissey. Morrissey replaced Derek Bruton, who left in early-April; Bruton had been a managing director since 2010.
Previously, Bock was executive vice president of Independent Advisor Services business consulting. She joined LPL Financial in 2012 from Morgan Stanley. Parker earlier served as executive vice president of IPS for LPL, which he joined in 2013 from Russell Investments. Khoury joined LPL in February 2012 from Bank of America-Merrill Lynch.
In other news, Cetera Financial Group has named Erinn Ford president of Cetera Advisors. Ford reports to Brett Harrison, formerly president and CEO of Cetera Advisors, who will continue as CEO of the Cetera unit while taking on "an expanded executive role" at Cetera Financial Group.
The news came after RCS Capital Corp., which owns Cetera Financial, said then-CEO Valerie Brown was leaving the company. It also announced that Larry Roth, who moved to RCS from the AIG-owned Advisor Group less than a year ago, is now CEO of RCS Capital's independent broker-dealer operations.
The IBD business includes First Allied Securities and the four Cetera Financial Group broker-dealers; Investors Capital, Summit Brokerage Services and J.P. Turner & Co. are being acquired.
Ford joined Cetera Financial Group in 2012 as senior VP of advisor relations for Cetera Advisors (formerly Multi-Financial Securities).
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