LPL’s chief product officer to depart firm

The executive responsible for broker-dealer’s tech and wealth offerings is leaving as part of broader organizational realignment.

Kabir Sethi, LPL Financial’s product chief, is leaving the firm, according to a public filing. Sethi’s departure is effective March 31, according to a Form 8-K the firm filed with the SEC on Monday.

The move is part of “an organizational realignment of certain business functions,” LPL said in its filing.

Sethi will be leaving LPL just two years shy of his second anniversary of starting at the broker-dealer.

It was in April 2022 that Sethi joined LPL from Merrill Lynch, where he headed the firm’s digital platform strategy – including the rollout of an advisor workstation and a mobile app for advisors – as the head of digital wealth management for Merrill Lynch and Bank of America Private Bank. Sethi’s tenure at Merrill Lynch lasted nearly two decades.

Prior to serving as head of digital, Sethi had held several other leadership roles, including managing director in Bank of America’s global wealth and investment management division.

As LPL’s product chief, he brought to the table his “extensive experience with digital strategy and innovation, as well as client-facing online and mobile platforms, financial advisor workstations, CRM platform, social media capabilities and client-advisor collaboration,” according to his bio on the firm’s website.