Burt White to retire from LPL Financial

Burt White, a longtime fixture at LPL Financial and its chief investment officer, is retiring next March, the company said in a statement Monday afternoon after the market closed.

Managing director, Investor and Investment Solutions, as well as head of investments, Burt White joined LPL in 2007 and is one of the few remaining senior executives that is a holdover of the company from before its initial public offering in 2010.

Prior to LPL, he was a managing director and director of research at Wachovia Securities, which became Wells Fargo Advisors after the credit crisis of 2008 and 2009.

Burt White, 52, is well known for his high-energy presentations before financial advisers at LPL's various meetings throughout the year. The firm, now with more than 19,000 affiliated financial advisers, is currently looking for a replacement.

"Burt has played an integral role in LPL’s journey to enhance the adviser experience, elevating the firm’s research, wealth management, product and platform capabilities," said Dan Arnold, LPL's CEO, in a statement. "He will be missed by advisors and employees alike."

"LPL has been far more than a place of work," White said in the statement. "It has been the inspiration for my career journey, a big piece of who I have become and a place where I have been privileged to work with some of the most talented people in the industry."