Pete Dorsey Joins LPL Financial as EVP, Institution Services

SAN DIEGO – Sept. 26, 2022 – LPL Financial LLC announced today that Pete Dorsey has joined the firm as executive vice president, Institution Services. Dorsey will provide strategic leadership to the team responsible for LPL’s bank, credit union and enterprise clients, while working to deepen and strengthen these clients’ personal interactions and experiences with LPL. He started with LPL on Sept. 21, reporting to Matt Enyedi, managing director of National Sales and Marketing.

Dorsey joins LPL from Altruist, where he served as chief strategy and revenue officer since February 2021. He brings more than two decades of experience in the institutional business, holding leadership positions in sales, practice management and operations as a managing director at TD Ameritrade and as vice president at Fidelity Investments.

“As LPL’s presence in the institution space continues to grow, we are confident that Pete will bring tremendous value to our partners and their financial advisors,” Enyedi said. “He has a track record of working closely with enterprises, institutions and advisors to help them establish and grow their practices, and he is deeply committed to their success. With Pete’s leadership, LPL will continue to evolve our efforts to create differentiated experiences for a growing range of institutions and enterprises, helping them thrive across all aspects of their wealth business.”

Dorsey succeeds Shawn Mihal, who joined the firm with the Waddell & Reed acquisition in early 2021.

“I am thrilled to join the LPL Institution Services team and look forward to building meaningful relationships with our institutions and supporting their advisors,” Dorsey said. “LPL’s commitment to the institution space has impressed me, along with the firm’s ongoing delivery of investment solutions, strategies, tools and resources needed to help programs and institutions thrive. LPL has demonstrated huge success in the market and is poised to continue that momentum for the long term. When you combine the culture and the people we have, with the platform and capabilities, it’s an exciting opportunity that will result in enhanced services and experiences for our clients.”

Dorsey received his bachelor’s in Economics from Saint Anselm College and his MBA from Pepperdine University’s Graziadio Business School. He earned his Accredited Investment Fiduciary (AIF) designation from University of Pittsburgh.

About LPL Financial

LPL Financial (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 nearly 21,000 financial advisors, and approximately 1,100 institution-based investment programs and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered 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.

**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company since June 2021. LPL and its affiliated companies provide financial services only from the United States.

Securities and advisory services offered through LPL Financial, 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.