Dwyer latest executive to exit LPL

20-year vet was key to broker-dealer's emergence as industry juggernaut
MAR 31, 2013
LPL Financial LLC is losing one of its key executives. Bill Dwyer, who shepherded the company from a small, privately held broker-dealer to a publicly traded giant of the retail securities industry, is leaving the broker-dealer. Mr. Dwyer, 55, joined LPL Financial in 1992. He was central in efforts to recruit representatives and LPL soon became an industry juggernaut. Under Mr. Dwyer's watch, LPL routinely beat other broker-dealers in the recruiting wars, employing greater numbers of recruiters and offering reps bigger bonuses than its rivals. Most recently, Mr. Dwyer's title was president of national sales for LPL. His focus had been on lobbying in Washington for independent broker-dealers. Mr. Dwyer earned $2.7 million in total compensation as of the company's fiscal 2011. When asked whether Mr. Dwyer was leaving the firm, LPL spokeswoman Betsy Weinberger declined to comment. Mr. Dwyer's departure is yet another change in the longtime management at LPL Financial, which became a publicly traded company in November 2010. In May, former LPL president Esther Stearns became chief executive of a new subsidiary that focused in recruiting and training new financial advisers to work with less affluent investors. Former chief communications office Kandis Bates, who joined Ms. Stearns in that venture, also was replaced last year.

Latest News

Why Trump's tax megabill brings new wrinkles — and opportunities — for Roth IRA conversions
Why Trump's tax megabill brings new wrinkles — and opportunities — for Roth IRA conversions

The recently enacted OBBBA makes lower tax rates "permanent," though other provisions could still make earlier Roth conversions appealing under the right conditions.

Life insurance linked to greater financial confidence: Corebridge
Life insurance linked to greater financial confidence: Corebridge

Americans with life insurance coverage are far more likely to feel assured of their loved ones' future, though myths and misconceptions still hold many back from getting coverage.

University endowments under pressure are rethinking investment strategies, Cerulli says
University endowments under pressure are rethinking investment strategies, Cerulli says

Mounting regulatory pressures and proposed taxes are putting a strain on higher education institutions, forcing renewed focus on liquidity management and the secondary market for private equity.

Nearly half of retirement plan participants would invest in private assets, Schroders finds
Nearly half of retirement plan participants would invest in private assets, Schroders finds

Poll of 1,500 retirement plan investors finds 45% interested in private equity and private debt, with more than three-quarters saying they'd ramp up contributions as a result.

FINRA suspends Centaurus broker who piled clients into REITS, BDCs
FINRA suspends Centaurus broker who piled clients into REITS, BDCs

Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.