LPL Financial names William Morrissey to replace Derek Bruton

William Morrissey has been appointed managing director of LPL Financial’s Independent Advisor Services unit, replacing Derek Bruton, who was allowed to resign earlier this month.

Mr. Morrissey, 49, has spent the past 10 years at LPL, most recently as executive vice president of business development, responsible for recruiting new advisers and their practices. He will continue to be based in San Diego and will report directly to LPL Financial president Robert Moore.

During his tenure, the number of LPL’s independent advisers nearly doubled to 11,400 from 6,350.

He joined the company in 2004 as senior vice president of Advisory Consulting Services, responsible for overseeing and building the sales, marketing and development of LPL’s advisory platforms.

In his new role as managing director of IAS, Mr. Morrissey will lead a business unit that provides solutions and relationship management to LPL Financial’s independent advisers. Mr. Morrissey also will continue to oversee IAS business development.

Mr. Morrissey brings nearly three decades of financial services experience to his new role. Prior to joining LPL Financial, he spent 17 years at Fidelity Investments and also held positions at Merrill Lynch & Co. Inc.