LPL Financial Announces New Structure for Delivering Enhanced Client Solutions and Experience
SAN DIEGO, June 5, 2014 (GLOBE NEWSWIRE) -- LPL Financial (LPLA) LLC, the nation's largest independent broker/dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc., today announced newly-created roles for two senior executives, Mimi Bock and Ryan Parker, as part of a strategic shift in the support provided by the company's Advisor & Institution Solutions (AIS) business. The promotions will enhance LPL Financial's approach to meeting evolving client needs.
"We recognize the importance of always evolving to ensure the right people and positions are in place to meet the expanding opportunities within the marketplace and enhance the client experience," said Robert Moore, president of LPL Financial. "I'm pleased that the depth of our talent allows us to fill these important roles within our new structure with leaders who already possess a personal connection to our clients and their business."
Mimi Bock will become Managing Director for Client Experience and Training (CET). The CET group will include client communications, marketing support services, conference planning and training services for both independent advisors and institutions. Previously, Ms. Bock was executive vice president of Independent Advisor Services business consulting. Ryan Parker, who previously served as executive vice president, is being promoted to Managing Director for Investment & Planning Solutions (IPS), which has been expanded to form a unified team comprised of advisory, investment, insurance and financial planning offerings. Both executives will report to Mr. Moore.
"I'm thrilled that LPL Financial is taking the lead in establishing teams solely dedicated to ensuring that our clients have the best experience possible and can more fully harness the power of affiliation with LPL," Mr. Moore said. "These dedicated groups will strengthen the company's ability to deliver an exceptional client experience that is smarter, simpler and more personal."
Ms. Bock has more than 25 years of experience in the financial services industry. Prior to joining LPL Financial in 2012, she worked for 20 years at Morgan Stanley Smith Barney, where she held a series of leadership roles in equity sales, financial advisor development, client marketing, and field management, ultimately culminating in the role of managing director of the global wealth management southeast division.
Commenting on the transition, newly appointed CET Managing Director Ms. Bock said, "In our fast changing industry, nothing is more important than making sure that LPL Financial is delivering the best possible tools, support and insights when, where and how our clients need them. I'm honored to lead a team of exceptional professionals who are 100 percent dedicated to delivering on that promise."
Mr. Parker joined LPL Financial in 2013 following a successful career in the financial services industry, in which he held leadership positions in sales and distribution, marketing, product management, and corporate strategy. Prior to LPL Financial, he served as a managing director at Russell Investments, where he most recently led the national accounts and business development functions across the bank, broker/dealer, insurance, and RIA channels in the U.S. advisory market. Mr. Parker also has worked at Franklin Templeton Investments and Putnam Investments.
Mr. Parker added, "As an industry leader, LPL Financial is committed to staying at the forefront of advisors' and institutions' evolving needs. That includes making it simpler for advisors to leverage LPL's advisory, investment, insurance, and financial planning offerings. Our new structure will enable us to further satisfy a wide array of investor needs while strengthening the efficiency of our clients' businesses."
Mr. Moore concluded, "We believe that LPL Financial is poised to deliver ever greater value for our advisors and extend our leadership in the industry. This is an exciting time in the independent advisory space and LPL Financial is rising to meet the challenges and opportunities that are in front of us and our clients."
As a result of this strategic shift, most of the company's existing marketing functions and all of its training teams will transition to the new CET group. The Chief Marketing Officer position held by Joan Khoury has been eliminated, and Ms. Khoury will be leaving the company at the end of August.
"I want to recognize Joan Khoury for all her contributions to LPL Financial during the past two years, and thank her for staying on to assist in the transition, including leading us into focus14, our premier advisor conference. We wish her well in her future endeavors," Mr. Moore said.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc., is the nation's largest independent broker/dealer (based on total revenues, Financial Planning magazine, June 1996-2014), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,700 financial advisors and more than 720 financial institutions. In addition LPL Financial supports approximately 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have more than 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com .
Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.
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Source: LPL Financial 2014 GlobeNewswire, Inc.