2022-04-25 | NDAQ:LPLA | Press release

SAN DIEGO, April 25, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA) today announced updates from the leadership of the Company’s Management Committee. Kabir Sethi will join LPL on May 2 as Chief Product Officer, responsible for LPL’s technology capabilities and wealth management platforms. He will lead product strategy, development and management to deliver high quality, innovative products that will benefit LPL Advisors, RIAs and Institutions. Additionally, LPL Managing Director Matt Enyedi will leave LPL Business Solutions to lead national sales and marketing. He will lead the teams responsible for developing LPL’s relationships with its advisors, RIAs and institutions and helping advisors grow their relationships with their clients. Both Sethi and Enyedi will report to LPL Chairman and CEO Dan Arnold.

“I believe the formula for our success combines good strategy, with solid execution, aligned with a strong culture and the best leadership,” says Arnold. “The advisor is at the center of everything we do and these hires represent that. In Kabir and Matt, we have two strong leaders to further position our firm and our advisors as the first choice to meet the growing demand for advice through an advisor relationship. These two leaders represent the best of both worlds with internal and external talent.”

About Kabir Sethi and Matt Enyedi

Sethi joins from Merrill Lynch, where as Chief Digital Officer for Merrill Lynch Wealth Management, he oversaw digital platforms serving the wealth management business, including financial advisor and client experience, wealth and advisor digital presence and acquisition. Previously, Sethi was responsible for consumer banking digital platforms and capabilities at Bank of America. Earlier in his career, he worked at Booz Allen Hamilton, a leading global management consulting firm. Sethi holds graduate degrees from Columbia University and Indian Institute of Management (IIM), Ahmedabad, India, and holds Series 7 and Series 24 designations.

“LPL’s vision holds immense potential for what we can do to support advisors and their clients,”” said Seti. industry which is growing and changing at a rapid pace. I am excited to join the firm as the next step in my career and look forward to working with advisors and staff to shape the future of financial advice.”

Enyedi began his career as a financial advisor and understands the unique needs and perspectives of our clients. He joined LPL in 2003, holding many positions over the years, most recently as Managing Director, LPL Business Solutions, where he was responsible for developing and deploying a suite of professional services to support advisors as as business owners. Previously, he served as Executive Vice President, National Sales, where he led the company’s data analytics and business intelligence efforts, and oversaw a team focused on delivering capabilities for help advisors grow their business and reach new customer segments. Previously, he was also responsible for teams supporting RIA custody solutions and for high net worth clients at LPL.

“Every decision we make at LPL begins and ends with our advisors. It is something that we are intensely passionate about and dedicated to. In my nearly 20 years at LPL, our advisors have always been a source of inspiration and admiration,” says Enyedi. “I am deeply honored to lead an organization that was designed from the ground up to ensure our customers have everything they need to succeed.”

About LPL Financial:

LPL Financial (Nasdaq: LPLA) was founded on the principle that the business should work for the advisor, not the other way around. Today, LPL is a leader in the markets we serve,* supporting nearly 20,000 financial advisors, approximately 800 institutional investment programs and 500 independent RIA firms nationwide. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to personalized advice from a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice perfectly. And they have the freedom to manage their relationships with their customers because they know their customers best. Simply put, we take care of our advisors, so they can take care of their clients.

* Best RIA Custodian (Cerulli Associates, 2020 US RIA Marketplace Report); #1 independent brokerage in the United States (based on total revenue, Financial Planning magazine 1996-2021); #1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliates provide financial services only from the United States.

Securities and advisory services offered by LPL Financial LLC, an SEC-registered broker-dealer and investment adviser. FINRA/ SIPC member.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or representatives of investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be material to shareholders under “Investor Relations” or” Press Releases” section of our website.

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