CHARLOTTE, N.C. – August 14, 2020 – LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that Andy Kalbaugh, managing director and divisional president, National Sales and Consulting, 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.
“We’ve been fortunate to have Andy as a leader at LPL for more than a decade, during which time he has created immeasurable value for our firm, for our advisors’ practices, and for the financial institutions we support,” said Dan Arnold, president and CEO, LPL Financial. “We’ll use the next several months to conduct a thoughtful search for a new senior leader, and Andy has agreed to stay on to help ensure a smooth transition. We wish Andy the very best on the next leg of his personal journey.”
Kalbaugh joined LPL Financial in July 2007 following the acquisition of Mutual Service Corporation (MSC). 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, satisfaction and retention of LPL’s financial advisors and institutional clients.
“I’m fortunate to come to work every day for a company and job I love, supporting our advisors and institutions in the noble work they do to help millions of American families achieve their financial dreams,” said Kalbaugh. “The timing is never perfect for retirement, but I’m content knowing the firm is in good hands, and in great shape to grow and prosper moving forward.”
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.
**Based on total revenues, Financial Planning magazine June 1996-2020
Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, an SEC registered broker-dealer and investment adviser.