InvestmentNews takes advisers through the developments and innovations in technology that'll change the way you do business today and tomorrow.

New tech lead at LPL Financial

Victor Fetter appointed as chief information officer and will lead business technology unit

Dec 13, 2012 @ 4:16 pm

By Davis Janowski

LPL Financial LLC has hired a new technology leader.

The firm announced Thursday the appointment of Victor Fetter as both chief information officer and managing director of the company's Business Technology Services unit.

He will be based in Charlotte, NC but starting Monday is heading out on the road to visit clients, customers and advisers around the country.

“I'm going to spend some time looking at the systems and deciding which areas we most need to target and prioritize,” Mr. Fetter said in an interview with InvestmentNews.

“It is a blend of things when transforming the operations in an organization — people, architecture, and systems — and putting it all together,” he said.

Mr. Fetter spent the past five years at computer hardware manufacturer Dell Inc., where he ran the company's online efforts.

In his new role Mr. Fetter will report directly to LPL Financial chief executive Mark Casady. He will also serve as a member of the firm's Executive Management Committee.

“That's what appealed so much to us with Victor, his breadth and diversity of experience and creative problem solving — and not just with technology but in building the right human infrastructure,” said Mr. Casady, who was also on the line.

He said that while traditionally a lot of money and effort at LPL had been focused on application development there would be additional emphasis placed on both technology infrastructure and research and development.

“We plan to substantially increase technology spending in 2013 and increase our technology staffing by roughly 50% between now and the end of 2013; Victor is the key person to lead that effort,” said Mr. Casady.

Included in those numbers are 60 open technology positions within LPL’s Business Technology Services unit. Most of these jobs will be based in LPL’s Charlotte technology offices with a few openings in San Diego as well. These are in addition to 38 positions filled in recent months over a period ending in November.

Current chief information officer Chris Feeney, who has been with LPL for five years, will serve during the transition and retire sometime in early 2013, following a 30-year career in the financial services technology industry.


What do you think?

View comments

Recommended for you

Featured Research

The 2015 InvestmentNews Adviser Technology Study

This in-depth study provides a blueprint for the industry, providing actionable information to advisers, along with the latest solutions to help them drive profitability, efficiency and growth for their firm.

Featured video


Top questions surrounding future of DOL fiduciary rule

Reporter Greg Iacurci and managing editor Christina Nelson discuss the biggest uncertainties springing from the Fifth Circuit Court of Appeals' decision to vacate the regulation.

Latest news & opinion

What the next market downturn means for small RIAs

Firms that have enjoyed AUM growth because of the runup in stocks may find it hard to adjust to declining revenues if the market suffers a major correction.

DOL fiduciary rule likely to live on despite appeals court loss

Future developments will hinge on whether the Labor Department continues the fight to remake the regulation its own way.

DOL fiduciary rule: Industry reacts to Fifth Circuit ruling

Groups on both sides of the fiduciary debate had plenty to say.

Fifth Circuit Court of Appeals vacates DOL fiduciary rule

In split decision, judges say agency exceeded authority.

UBS, after dumping the broker protocol, continues to see brokers come and go

The wirehouse has seen 14 individuals or teams leave and five join for a net loss of $2.4 billion in AUM


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print