LPL Financial Names Althea Brown Chief Legal Officer

CHARLOTTE, N.C. – July 26, 2023 – LPL Financial LLC announced today that Althea Brown will join LPL in September as managing director and chief legal officer. She will lead the firm’s Corporate Law and Government Relations; Litigation and Regulatory Affairs; and Legal Operations and Business Management functions; and serve as a member of the Management Committee.

“Althea has significant experience in leading high-performing legal teams for large corporations across retail, technology and financial services,” said Dan Arnold, LPL president and CEO. “Her experience leading legal teams that support innovative and highly regulated technology products and solutions makes her the right leader to continue to evolve our legal department into a best-in-industry asset for our clients.”

Brown joins LPL from Google, where she most recently served as Legal Director, overseeing a large team of product and commercial lawyers advising subsidiary Fitbit and Google’s Devices and Services’ marketing, e-commerce, retail, customer support and the vendor management office. Earlier in her career, Althea served as supervising attorney for Morgan Stanley Smith Barney. She holds a Six Sigma Black Belt and is a Fellow with the Leadership Council on Legal Diversity.

“As someone who values teamwork, collaboration and financial empowerment, I’m honored to join LPL’s Management Committee as we continue to pursue LPL’s mission to take care of advisors so they can take care of their clients,” said Brown. “It’s inspiring to see the firm’s dedication and commitment to developing innovative technology, services and capabilities that empower and enable advisors and institutions to effectively support their clients’ financial goals.”

Brown will be relocating to San Diego, CA where she’ll work out of LPL’s corporate office. She will fill the role currently held by Michelle Oroschakoff, who will retire this fall after a 10-year career at LPL and 30 years in the industry.

“Over the last decade, Michelle has been instrumental to the firm’s success through her legal and compliance expertise, thoughtful leadership and commitment to fostering a culture of belonging. We thank her and wish her well,” Arnold said.

About LPL Financial

LPL Financial Holdings, Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated advice model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

LPL and its affiliated companies provide financial services only from the United States.

Securities and advisory services offered through LPL Financial LLC, a registered investment advisor. 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 LLC.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.