LPL Financial promotes five executives to Managing Director, expanding its leadership team amid continued growth and influence in wealth management.
Quiver AI Summary
LPL Financial LLC announced the promotion of five executives to Managing Director roles, recognizing their contributions to the firm as it grows. The new Managing Directors—Christa Carone, Gary Carrai, Brett Goodman, Scott Posner, and Brent Simonich—are all elevated from Executive Vice President positions, highlighting their influence in various company functions. Current Managing Directors will transition to Group Managing Directors and continue on the Management Committee. CEO Rich Steinmeier emphasized the firm’s commitment to empowering its leaders to shape its strategic direction and uphold corporate values. Each promoted leader brings a wealth of experience and a strong record of achievement in their respective fields, supporting LPL's vision in wealth management.
Potential Positives
- Promotion of five executives to Managing Director roles highlights the company's commitment to leadership development and talent retention.
- New management level indicates the firm's growth and broadening scope, enhancing LPL's operational and strategic capabilities.
- Leadership team includes executives with extensive industry experience and proven track records, which may bolster confidence among clients and investors.
- The formal evaluation process for promotions underscores a structured approach to talent advancement, ensuring that leadership decisions are made with careful consideration.
Potential Negatives
- The promotion of five executives may signal an increasing internal focus on management rather than improving operational efficiencies or addressing any potential existing issues within the company.
- The elevation of current Managing Directors to Group Managing Directors could indicate a lack of new talent at higher levels, potentially stifling innovation and fresh perspectives.
- The release does not address any challenges or strategic changes the company may be facing, which could raise concerns about transparency with stakeholders.
FAQ
Who are the newly promoted Managing Directors at LPL Financial?
The newly promoted Managing Directors are Christa Carone, Gary Carrai, Brett Goodman, Scott Posner, and Brent Simonich.
What positions did the new Managing Directors hold before their promotions?
Before their promotions, they held positions as Executive Vice Presidents at LPL Financial.
What roles will current Managing Directors take after the promotions?
Current Managing Directors will be elevated to Group Managing Directors and remain on LPL's Management Committee.
How does LPL Financial choose its Managing Directors?
Managing Directors were selected following a robust formal evaluation process, with candidates reviewed annually for advancement.
What are LPL Financial's key offerings?
LPL Financial provides advisor affiliation models, investment solutions, fintech tools, and practice management services to support financial advisors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LPLA Congressional Stock Trading
Members of Congress have traded $LPLA stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by members of Congress over the last 6 months:
- SENATOR MARKWAYNE MULLIN purchased up to $100,000 on 02/13.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$LPLA Insider Trading Activity
$LPLA insiders have traded $LPLA stock on the open market 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by insiders over the last 6 months:
- MATTHEW J AUDETTE (President and CFO) has made 0 purchases and 9 sales selling 33,365 shares for an estimated $12,159,676.
- MATTHEW ENYEDI (Managing Director) sold 5,154 shares for an estimated $1,903,526
- RICHARD STEINMEIER (Chief Executive Officer) sold 3,500 shares for an estimated $1,308,265
- MARC ELIOT COHEN (Managing Director) sold 1,100 shares for an estimated $402,435
- ANERI JAMBUSARIA (Managing Director) has made 0 purchases and 2 sales selling 385 shares for an estimated $126,191.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LPLA Hedge Fund Activity
We have seen 326 institutional investors add shares of $LPLA stock to their portfolio, and 318 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIRST TRUST ADVISORS LP removed 981,006 shares (-99.0%) from their portfolio in Q4 2024, for an estimated $320,308,269
- BOSTON PARTNERS added 805,637 shares (+26.0%) to their portfolio in Q4 2024, for an estimated $263,048,536
- JANUS HENDERSON GROUP PLC added 522,032 shares (+20.6%) to their portfolio in Q4 2024, for an estimated $170,448,668
- EMINENCE CAPITAL, LP removed 519,462 shares (-48.2%) from their portfolio in Q4 2024, for an estimated $169,609,537
- BALYASNY ASSET MANAGEMENT L.P. added 471,488 shares (+inf%) to their portfolio in Q4 2024, for an estimated $153,945,546
- DODGE & COX added 454,553 shares (+2922.0%) to their portfolio in Q4 2024, for an estimated $148,416,100
- ARTISAN PARTNERS LIMITED PARTNERSHIP added 417,873 shares (+inf%) to their portfolio in Q4 2024, for an estimated $136,439,713
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LPLA Analyst Ratings
Wall Street analysts have issued reports on $LPLA in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Cowen & Co. issued a "Buy" rating on 01/31/2025
- Barclays issued a "Overweight" rating on 01/13/2025
- Citigroup issued a "Buy" rating on 01/10/2025
- UBS issued a "Buy" rating on 01/06/2025
- Wolfe Research issued a "Outperform" rating on 01/03/2025
To track analyst ratings and price targets for $LPLA, check out Quiver Quantitative's $LPLA forecast page.
Full Release
SAN DIEGO, April 15, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA), today announced that five of its executives have been promoted into new Managing Director roles. Christa Carone, Gary Carrai, Brett Goodman, Scott Posner and Brent Simonich have been elevated from Executive Vice President positions and will become Managing Directors at the firm.
These roles represent a new management level for the firm and demonstrate an acknowledgement of the broadening scope and impact of the firm’s leaders in a variety of functions. Current Managing Directors Althea Brown, Marc Cohen, Matthew Enyedi, Greg Gates and Aneri Jambusaria will become Group Managing Directors and will continue in their roles on LPL’s Management Committee alongside CEO Rich Steinmeier and President and CFO Matt Audette.
“LPL is a firm that attracts the best talent in the industry. As the firm grows, the scope and impact of our executive management team grows along with it, offering an opportunity to empower more of our incredible leaders to guide the firm’s strategic direction and champion the culture we aspire to uphold” said LPL Financial CEO Rich Steinmeier. “Each of these exceptional leaders embodies our corporate values and has demonstrated influence across the firm and the broader industry in their respective areas of expertise. We are thrilled to elevate and expand the leadership of LPL in alignment with our vision to be the best firm in wealth management.”
Promoted Executives
Christa Carone, Managing Director, Chief Marketing and Communication Officer
As Chief Marketing and Communication Officer for LPL, Christa Carone is responsible for leading the firm’s brand and growth marketing initiatives, digital content experiences, and communication strategies across all audiences. Prior to joining LPL, she held marketing leadership roles at a variety of companies including Fidelity Investments and Xerox.
Gary Carrai, Managing Director, Chief Product Officer
Gary Carrai leads LPL’s technology product teams. He is responsible for driving the design and delivery of the operating platform used by all advisor and institutional clients. Gary has held several leadership roles at LPL, including leading advisor business lines, and divisions within the wealth management solutions team.
Brett Goodman, Managing Director, Corporate Development, Treasury, and Investor Relations
Brett Goodman leads the firm’s M&A strategy and execution, serves as LPL's treasurer, and oversees the firm's engagement with shareholders. Prior to LPL, Brett served as a Managing Director at Morgan Stanley and Chief Development Officer at E*TRADE.
Scott Posner, Managing Director, Business Development
Scott Posner leads Business Development for LPL and is responsible for organic growth initiatives across the firm including advisor recruiting, institutional sales, external liquidity and succession, and business transitions. He has been instrumental in evolving the firm’s recruiting team and structure and for delivering extraordinary results. Prior to joining LPL, Scott was a partner in business services at IBM and held leadership roles at BNY Mellon.
Brent Simonich, Managing Director, Chief Risk Officer, Head of Business Operations
Brent Simonich leads LPL’s Risk, Compliance, Operations and Transformation teams and has a proven track record of establishing strong governance programs, delivering outcomes and creating scale. Prior to joining LPL, Brent served as executive vice president and chief risk officer at E*TRADE.
Managing Directors were elevated following a robust formal evaluation process. Going forward, LPL will continue to review candidates for Managing Director roles as part of an annual development and advancement process.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com .
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “ Investor Relations ” or “ Press Releases ” section of our website.
Media Contact:
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