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ThinkAdvisor

Victor Fetter Is Out at LPL; Former AmEx, eBay Exec Is In

21:36 22 June in In the News by rafferty

June 22, 2017

By Janet Levaux, ThinkAdvisor

The IBD taps Scott Seese for the CIO post in a move that one recruiter calls ‘a big deal’

LPL Financial says Chief Information Officer Victor Fetter is leaving the firm and will be replaced on July 10 by Scott Seese, who has been CIO of American Express’ global consumer business unit and of eBay.

The change comes about six months after Dan Arnold stepped into the CEO slot left by the retiring Mark Casady, who also acted as chairman. Previously, Arnold was president of the independent broker-dealer, a role he took on in 2015, when Robert Moore departed.

LPL’s stock traded down about 2% at under $41 per share on Thursday.

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ThinkAdvisor

LPL Shares Details on 108 Recruited Reps, Newest Partner & Tech Woes

17:25 23 May in In the News by rafferty

May 22, 2017

By Janet Levaux, ThinkAdvisor

 

The IBD picked up at least $4.2 billion in assets in Q1’17; earlier this month, its IT network and backup systems went down

LPL Financial (LPLA) says it recruited 108 new financial advisors in the first quarter with at least $4.2 billion in assets. The independent broker-dealer also announced plans to give its 14,000-plus affiliated registered representatives access to a variety of Echelon Partners’ consulting services and clarified details on a recent tech outage.

Of the 108 reps joining LPL, 50 moved from Cetera Financial Group broker-dealers, including 46 that make up a team previously with Cetera Investment Services. Fourteen left Wells Fargo to go independent, while 10 moved to LPL from MML and seven from Edward Jones.

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