LPL Financial will give a new title to the leader of its retirement division next year, the largest U.S. independent broker-dealer said in a statement Thursday.
Bill Chetney will become president of LPL Retirement Partners on Jan. 1.
He currently serves as executive vice president of LPL Retirement Partners. The division services more than 32,000 retirement plans with three million participants and manages $94 billion in assets.
Mr. Chetney founded and led National Retirement Partners Corp., an advisory and brokerage firm that specialized in defined-contribution retirement plans.
NRP’s assets were acquired by LPL in 2010 as the broker-dealer and custodian worked to position itself to focus on serving the millions of baby boomers that have begun to leave the workforce.