LPL bats for advisors with new political action chief

LPL is bolstering its capacity to voice out advisors' interests on Capitol Hill with a new C-suite executive to lead its political action committee.

LPL Financial announced Tuesday that's hired Tom Gannon as its executive vice president and chief advocacy officer.

Gannon, who has more than 25 years of experience in government relations within the financial services sector, will now oversee LPL's advocacy initiatives at the federal, state, and local levels, according to the firm.

Reporting to Althea Brown, LPL's chief legal officer, Gannon will oversee an experienced team of policy analysts and lobbyists.

“Tom brings broad, relevant experience and proven leadership that will help us advance the service we provide for our advisors, institutions and the investors they serve,” Brown said in a statement.

In his new position, Gannon will lead LPL’s government relations efforts and will take charge of the company’s PAC and the LPL 50 State Advocacy Network. He will collaborate with policymakers, regulators, and industry groups to represent LPL advisors, with the goal of aligning the firm’s advocacy efforts with its mission of empowering advisors to deliver personalized financial advice.

LPL’s government relations program, established in 2010 with the formation of the LPL PAC, has developed a strong reputation for enabling advisors to influence public policy. The firm’s advocacy efforts are focused on promoting policies that ensure Americans have access to personalized financial advice while supporting advisors in selecting the business model that suits them best.

Brown emphasized that Gannon's experience would be crucial as LPL continues to grow as a prominent voice and advocate in the wealth management industry.

Before joining LPL, Gannon was the chief government relations officer at H&R Block for four years. He also spent 11 years leading government relations at Mastercard. Gannon began his career as a legislative aide, which led to various leadership roles in lobbying and grassroots campaigning as well as PAC fundraising efforts.