CHARLOTTE, N.C. – Aug. 28, 2019 – LPL Financial Holdings Inc., the parent corporation of leading retail investment advisory firm and independent broker-dealer LPL Financial LLC (Nasdaq: LPLA), today announced it has been named a Winning ‘W’ Company by 2020 Women on Boards. The organization recognized LPL, which has three women on its nine-member board of directors, for its commitment to gender diversity.
“Our board of directors represents well-respected and innovative leaders with a variety of perspectives, backgrounds and experiences. The diversity of our board of directors represents a deep-rooted commitment to our clients, employees and investors to be an industry leader in diversity and inclusion,” said LPL Managing Director and Chief Human Capital Officer Sallie Larsen. LPL Financial board members include Paulett Eberhart, Allison Mnookin and Anne Mulcahy.
Studies have shown that the varied perspectives of women are uniquely valuable to corporations and the challenges they face today. Companies with more women in top management positions tend to exhibit better organizational and financial performance. Additionally, diversity of leadership styles and performance models has been shown to be a clear accelerator for business.
“I am proud of LPL’s long-standing commitment to gender diversity at the board and management levels, as well as its belief that diversity and inclusion at all levels is critical to the company’s success,” added Anne Mulcahy, who joined LPL’s board in 2013.
2020 Women on Boards is a global education and advocacy campaign committed to building public awareness and momentum toward achieving at least 20% of all public company board seats to be held by women by the year 2020, the milestone 100th anniversary of the 19th Amendment, women’s right to vote. As of 2018, the percentage of board seats held by women was 17.7 percent, up from 16 percent in 2017*.
“We applaud LPL Financial for engaging the diverse opinions and perspectives of both genders on its board of directors,” said Betsy Berkhermer-Credaire, CEO of 2020 Women on Boards.
Watch LPL leaders discuss diversity and inclusion initiatives in the series Around The Table: Conversations from the Frontlines About Diversity and Inclusion.
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 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 2020 Women on Boards annual Gender Diversity Index which tracks the numbers of corporate board seats held by women among the Russell 3000 Index. 2020 Women
2020 Women on Boards and LPL Financial are separate entities
**Based on total revenues, Financial Planning magazine June 1996-2019