John Dixon to quit LPL broker-dealers

John Dixon, a longtime fixture in the independent-contractor brokerage industry, is stepping down from his leadership positions in two broker-dealers owned by LPL Financial of San Diego and Boston. J. Andrew Kalbaugh is replacing Mr. Dixon as chairman of Mutual Service Corp. of West Palm Beach, Fla., as well as chairman and CEO of Associated Securities Corp. of El Segundo, Calif. He is assuming the same roles at the holding company, Associated Financial Group. Mr. Kalbaugh is currently CEO with MSC. The moves are effective at the end of March. Mr. Dixon will be missed, one industry observer said. “John has been an innovator and leader in the independent-contractor marketplace since I can remember,” said Larry Papike, president of Cross-Search, a recruiting firm based in San Diego. Mr. Dixon, whose career spans more than 40 years, remains chairman emeritus of MSC. Last year, LPL acquired MSC, Associated Securiteis and Waterstone Financial Group of Itasca, Ill., from Pacific Life Insurance Co. of Newport Beach, Calif.