Andy Kalbaugh, managing director and divisional president of national sales and consulting at LPL Financial, will retire at the end of the first quarter of 2021. The firm will conduct an external search to identify a new senior leader to join its management team, LPL said in a release.
Kalbaugh joined LPL in 2007 following its acquisition of Mutual Service Corp. He served as executive vice president of business consulting for independent advisor services and was named managing director in 2011.
In his current role, he is responsible for the long-term growth and retention of LPL’s financial advisers and institutional clients.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
