Derek Bruton: I'll be back

Former LPL executive says taking time off to recharge

Apr 8, 2014 @ 2:32 pm

By Bruce Kelly

lpl financial, derek bruton, recruiting, brokerage
+ Zoom
Derek Bruton: “The phone calls and support have been amazing.”

Derek Bruton, the executive in charge of the 13,600 representatives and financial advisers at LPL Financial, who resigned from the firm abruptly last week, said he is taking time off “to recharge the batteries and spend time with the family.”

In an e-mail, Mr. Bruton said he expects to be back.

“I look forward to bringing my experience, and most of all, my passion for serving advisers, to my next opportunity,” he wrote. “However … after spending two-plus decades applying that passion, growing businesses, developing staff and having a lot of fun doing it, it will be good for me to take a small break and think clearly about how and where I can be of the most value.”

He declined to address what happened at LPL, where his title was managing director for independent adviser services.

Last Friday, LPL said in a filing with the Securities and Exchange Commission that it “permitted [Mr.] Bruton to resign, effective immediately, in light of the company's concerns about Mr. Bruton's interactions with other employees.” His separation was not related to the company's performance, LPL said.

LPL plans to fill the position internally, according to spokeswoman Betsy Weinberger.

On Tuesday, Mr. Bruton said in his e-mail: “The phone calls and support have been amazing.”


What do you think?

View comments

Recommended for you

Featured video


How advisers can better communicate the risks and rewards of investing in emerging markets

Senior columnist John Waggoner discusses how financial advisers can help clients better understand the advantages of having exposure to emerging markets and the increased volatility that often comes along with investing in them.

Video Spotlight

A Teacher’s Lesson Plan

Sponsored by Prudential

Latest news & opinion

Big gains attract new money to emerging markets, but should investors stay?

An estimated $6.7 billion has flowed into emerging-market stock funds and ETFs so far this year, according to Morningstar.

Attorney blasts Finra after regulator loses insider trading case

Lawyer says it was 'slimy' of Finra to publicize the case while it was still being litigated.

Will Jeffrey Gundlach's Trump-like approach on Twitter work in financial services?

The DoubleLine CEO's attacks on Wall Street Journal reporters is igniting a discussion on what's fair game on social media.

Fidelity wins arb case against wine mogul but earns a rebuke from Finra

In the case of investor Peter Deutsch, Fidelity doesn't have to pay any compensation, but regulator said firm put its interests ahead of his.

Plaintiffs win in Tibble vs. Edison 401(k) fee case

After a decade of activity around the lawsuit, including a hearing before the U.S. Supreme Court, judge rules a prudent fiduciary would have invested in institutional shares.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print