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

Advisor says retirement plan defaults still target an average
Advisor says retirement plan defaults still target an average

ERISA Investment Fiduciary Philip Chao says most retirement plans use target date funds as a one-size-fits-all default that ignores individual circumstances

Ex-broker in Florida gets more than six years for stealing $2 million from senior
Ex-broker in Florida gets more than six years for stealing $2 million from senior

Eric J. Stone was fired by Fidelity in 2021 after facing claims he took loans from clients.

Vistria takes majority stake in Curi Capital in fresh RIA deal
Vistria takes majority stake in Curi Capital in fresh RIA deal

Chicago-based Curi Capital gets new majority owner as $14 billion RIA eyes acquisitions and expanded family office services

WealthReach, VastAdvisor tie-up takes aim at advisors' cold outreach problem
WealthReach, VastAdvisor tie-up takes aim at advisors' cold outreach problem

Partnership pairs organic lead detection with paid ad targeting to help end "spray-and-pray" marketing for growth-seeking advisory firms.

LPL taps Wells Fargo vet as new chief technology and information officer
LPL taps Wells Fargo vet as new chief technology and information officer

Jonathan Lewis joins the wealth management giant as it proceeds with a $2 billion AI and technology push for advisors.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income