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.”

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

How to redesign, rebrand and recast your practice

Redesigning and reshaping your practice is a tough pill to swallow for advisers. But what got you here won't get you there, says John Kozuch, a Chicago financial adviser.

Video Spotlight

The Search for Income

Sponsored by PGIM Investments

Recommended Video

Path to growth

Latest news & opinion

T. Rowe Price steps up its game to serve financial advisers

The Baltimore-based mutual fund giant is more aggressively targeting financial advisers with a beefed-up wholesale crew and placement on custodial platforms.

The most important tax changes for 2018

The Internal Revenue Service issued inflation adjustments to more than 50 tax provisions for 2018.

Shift to Roth 401(k)s 'highly likely' part of tax reform: former Treasury official Mark Iwry

Mandated contributions to Roth accounts would likely only be partial, as opposed to having a full repeal of pre-tax accounts.

E*Trade acquiring custodian Trust Company of America

Discount broker buying second-tier custodian for $275 million.

Another thousand Dow points higher, and investors yawn

Market milestones keep falling like dominoes, with 51 records broken so far this year.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print