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What Derek Bruton's replacement may say about the departure that still has people shocked

Bill Morrissey is known to grind out quantifiable results

Monday, April 14, 2014 – 6:52 PM by Lisa Shidler
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Bill Morrissey epitomizes LPL's ability to grow rapidly.

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January 6, 2022 – 6:21 PM

Three months after Larry Roth's SPAC steps in, Derek Bruton steps down as Kingswood US CEO and eyes next move in July with no Kingswood successor in sight

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March 30, 2021 – 8:00 PM

How a white senior vice president at an LPL OSJ came to hire a former black minister as recruiter despite the latter's pledge to make it 'uncomfortable' at times

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See more related moves

Mentioned in this article:

LPL Financial
Asset Custodian
Top Executive: Dan Arnold

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

Private Advisor Group
Specialized Breakaway Service, RIA-Friendly Broker-Dealer, RIA Serving Other RIAs
Top Executive: RJ Moore, Chief Executive Officer

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks




Stephen Winks

Stephen Winks

April 14, 2014 — 8:45 PM

Everyone should wish Bill Morrissey the best, as LPL, the largest independent broker/dealer, seeks to manage a widely diverse group of independent brokers into a scalable advisory support format. The advisor seeks control over their value proposition, cost structure, margins and professional standing, not possible in a brokerage format. Will LPL and the brokerage industry in general be able to make the transition from brokerage to advisory services? The difference is in selling advice products in the b/ds best interest versus managing investment and administrative values on behalf of each client in the client’s best interest.

As a hands on manager who hits his numbers, will Morrissey be adroit in introducing disruptive innovation required for professional standing creating a unifying culture within LPL?

A daunting opportunity that could transform the entire industry?

SCW

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