Dwyer latest executive to exit LPL

20-year vet was key to broker-dealer's emergence as industry juggernaut

Feb 28, 2013 @ 4:30 pm

By Bruce Kelly

LPL Financial LLC is losing one of its key executives.

Bill Dwyer, who shepherded the company from a small, privately held broker-dealer to a publicly traded giant of the retail securities industry, is leaving the broker-dealer.

Mr. Dwyer, 55, joined LPL Financial in 1992. He was central in efforts to recruit representatives and LPL soon became an industry juggernaut. Under Mr. Dwyer's watch, LPL routinely beat other broker-dealers in the recruiting wars, employing greater numbers of recruiters and offering reps bigger bonuses than its rivals.

Most recently, Mr. Dwyer's title was president of national sales for LPL. His focus had been on lobbying in Washington for independent broker-dealers. Mr. Dwyer earned $2.7 million in total compensation as of the company's fiscal 2011.

When asked whether Mr. Dwyer was leaving the firm, LPL spokeswoman Betsy Weinberger declined to comment.

Mr. Dwyer's departure is yet another change in the longtime management at LPL Financial, which became a publicly traded company in November 2010.

In May, former LPL president Esther Stearns became chief executive of a new subsidiary that focused in recruiting and training new financial advisers to work with less affluent investors. Former chief communications office Kandis Bates, who joined Ms. Stearns in that venture, also was replaced last year.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

Identifying unconventional risk and finding a secret weapon in client portfolios

Advisers are hungry to find new alternative investment opportunities. But Rupal Bhansali of Ariel Investments says the secret weapon could be right under your nose - in cash.

Latest news & opinion

Tax reform debate sparks fresh interest in donor-advised funds

Schwab reports new accounts up 50% from last year, assets up 33%.

Nontraded REITs to post worst sales since 2002

The industry is on track to raise just $4.4 billion, well off the $19.6 billion it raised just four years ago, as new regulations hinder sales.

Broker protocol for recruiting a boon for clients

New research finds advisers whose firms have joined the agreement take better care of customers.

Meet our 2017 Women to Watch

Introducing 20 female financial advisers and industry executives who are distinguished leaders, advancing the business of providing advice through their creativity and hard work.

Raymond James executives call on industry to keep broker protocol

Also ask firms to pay for the administration of the protocol to 'ensure its longevity and relevance.'

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print