LPL lands another big IT exec

Lochan to oversee B-Ds Business Technology Services' risk management and information security teams
DEC 13, 2012

LPL is staffing up its technology and operations roster. The firm announced today that Donie Lochan has joined the company as an executive vice president. He will head up several critical teams within LPL's Business Technology Services unit. Mr. Lochan will be based in San Diego and report to Victor Fetter, who recently joined LPL Financial as chief information officer and managing director of BTS. In an interview Friday with InvestmentNews Mr. Fetter said that while it would be a stretch to refer to Mr. Lochan as LPL's technology number two, the firm has many other talented high-level technology executives, his hiring does reflect how seriously LPL is taking its planned platform enhancements. Though it is his first full-time position with an independent broker-dealer, Mr. Lochan can claim more than two decades of experience in the realm of business and financial services technology. He arrived at LPL from a stint as a partner in Bain & Company's Global Financial Services Practice; prior to that he was a partner at Ernst & Young, serving as global head of its wealth management group. Within LPL's BTS unit Mr. Lochan will oversee the areas of risk management, audit compliance, business continuity and disaster recovery planning, and information security — a fairly full plate by any measure. In our interview, when asked what his priorities are Mr. Lochan said he could not yet go into a lot of specifics — his first day was 2 January. That said he did have some general ideas. “I want to help expedite LPL's plans for ongoing innovation, we have a solid, cohesive set of offerings and I want to see us build on those,” he said. “I am getting excited about enhancing the depth and capabilities of those applications we have now, in addition to expanding the platform in those areas advisers are most seeking from us as well,” Mr. Lochan said. Other related stories: Technology said to be impetus behind LPL-Fortigent deal LPL to unveil technology push; Effort convinces firm's top adviser to stay put LPL latest to deploy social-media archiving system; Independent broker-dealer selects Erado's API-based archiving, tracking and post-review tool Data theft puts LPL clients at risk

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.