People Moves Related to "Cetera raises its strategic profile to 'baby LPL' status with MetLife deal"
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2025 will be the year of 'Under New Management' in RIA business, after 2024 brought profusion of CEO-level fires, hires and deals
Jan 2, 2025First seven CEOs were replaced, then myriad big HR dominoes fell as Vanguard, Schwab, Envestnet, InvestCloud, LPL, Cetera and Orion all switched out CEOs and presidents
After merger shock, LPL staff apologized to Ralph Angelo for blindside, which he now gladly accepts as first major recruit under LPL-Commonwealth combo
Jun 13, 2025The founder of $1.5 billion Angelo Planning Group (APG) found out LPL was acquiring Commonwealth the same day he joined Commonwealth -- a switch precipitated by Osaic's merger with American Portfolios
Vise resets -- again -- with more executive firepower and fresh vision focused on RIA M&A and 'wellness,' but analysts say its solutions must stand apart to succeed
Nov 6, 2024The New York City brat pack -- still loaded with VC cash -- is pivoting, again, but with a pitch that has convinced big hitters to join the firm as advisors and president, respectively.
Dan Arnold is gone as LPL CEO, but his leverage to negotiate a settlement is apparent as LPL tells SEC it is deferring exercise of 'automatic forfeiture' of some vested options
Oct 3, 2024Analysts stunned, seeking further clarity from LPL on future leadership, are reassured by company that 'no further shoe will drop'
Dan Arnold steps down as LPL CEO, under a cloud, effective immediately; Steinmeier steps in as interim CEO
Oct 1, 2024Well-regarded, Steinmeier has been LPL's go to player, after he was promoted to chief growth officer in May
Christa Carone, an ex-Fidelity and Xerox marketing whiz, steps onto a slippery slope at LPL with a daunting task -- to consolidate a NASCAR size brand portfolio... or not?
Apr 2, 2024With no CMO since August, the chief marketing officer will play catch up for a company still hungry to buy more branded B2B and B2C players.
LPL makes 'Sixth Sigma black belt' ex-wirehouse counsel its chief legal officer, right after purchasing another full service broker. LPL says there is 'no connection,' and she was poached from Google
Jul 28, 2023The Fort Mill S.C. broker dealer added Crown Capital Securities' captive brokers in Orange County, and is hiring Althea Brown, fresh off 11 years at Google
Rich Steinmeier power poaches Jeremy Holly, who returns to LPL as EVP to head Dan Arnold-directed 'liquidity' project to buy -- but not hold -- LPL firms
Jul 7, 2023Holly had bolted LPL for SageView with fanfare but he retained a fanbase back in San Diego which dreamed up a dream job for him
Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies
May 18, 2023The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'
Feb 23, 2023The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.
Fidelity lands RIA whisperer from Schwab in a coup, apparently using quality-of-life perks as lure
Feb 10, 2023Kelly Smith chose the Boston rival for greater flexibility, better pay and a chance to move upmarket to sell family office services to RIAs that mix with the ultra-high-net-worth elite.
RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors
Nov 3, 2022Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.
Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too
Oct 29, 2022The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.
Executive shake-up and staff hiring binge change Dynasty Financial Partners' talent mix, with Todd Thomson, Scott Welch, Ed Friedman and 12 women as headliners
Sep 24, 2019The St. Petersburg-based producer of 'synthetic RIA scale' will continue to aggressively hire and adjust its talent ranks as it readies for next growth push.
LPL Financial tries to solve two 'digital' problems with one new hire; the broker-dealer admits high 'friction' with clients for onboarding and matching them to the right annuity
Jul 25, 2019Ashish Braganza puts LPL in to the data game but critics wonder whether the belated hire comes with too small a budget and team
RIA in a Box gunning for top-notch staff as it readies for Aquiline-fueled roll-up binge, targeting old-school, mom-and-pop compliance competitors
Nov 29, 2018With Ascensus also in its portfolio, Aquiline is showing a penchant for taking dull, fragmented, unloved wealth-management niche businesses and rolling them up into sexier firms
With his CEO hell-bent for election, Bronfman Rothschild president Michael LaMena reunites Fortigent's terrible two with a key poach
Nov 5, 2018Neal Simon is running for U.S. Senate as an independent, an unusual risk; he also took precautions to make sure his $6.1B RIA roll-up finds its feet regardless of the mood of the Maryland electorate
LPL Financial hires new 'digital' head of recruiting -- IBM exec Scott Posner -- after the old school approach was leaking oil
Sep 26, 2018Pre-IBM, Scott Posner spent 17 years at BNY Mellon where he rose to executive vice president leading the company’s strategic Initiatives group, reporting to the President