LPL Financial Announces Executive Realignment

Robert Moore has been named president and chief operating officer, effective May 1.  He will continue the duties of chief financial officer during the search for a replacement.

“LPL Financial has a tremendously deep and strong management team across the organization,” said Mark Casady, chairman and CEO of LPL Financial, , “and while Robert has been a terrific CFO, we are delighted that he will be taking on broader responsibilities as president and COO.”

Esther Stearns has been named chief executive of a new LPL subsidiary, and will be stepping down as president and chief operating officer, as of May 1. The venture is slated to provide services to advisers who are new to the industry and are dedicated to serving the mass market, which the firm believes is underserved by professional financial advice.

Bill Dwyer’s role as president of national sales has been expanded to include oversight of the firm’s sponsor relations function. He will continue to oversee all aspects of independent adviser services and institution services business development, including attracting new advisers and institutions to the firm. He will also be responsible for retaining and promoting the growth of existing business through key resources, such as business consulting, adviser-facing technology, business engineering and sponsor relations.