Thomas Cappello Joins LPL as EVP & Chief Risk Officer

Last Edited by: LPL Financial

Last Updated: October 12, 2020

Thomas Cappello Joins LPL as EVP & Chief Risk Officer

CHARLOTTE, N.C. – Oct. 12, 2020 – LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that Thomas Cappello, CFA has joined the firm as executive vice president and chief risk officer, effective Oct. 12. In his new role, Cappello is responsible for LPL’s risk functions, including Enterprise Risk Management, Business Risk Management and Product Risk Management. He reports to Michelle Oroschakoff, LPL managing director and chief legal officer and is based at the firm’s Carolinas location.

“Tom brings a risk-ready mindset and vast wealth management experience, which will allow him to champion an effective enterprise-wide risk management framework across all of LPL’s business units,” said Oroschakoff. “I am excited to welcome Tom to LPL and am looking forward to all that we will continue to accomplish as a firm with his leadership.”

Cappello brings a lot of experience to LPL

Cappello joins LPL from Bank of America, where he served as managing director, enterprise strategic risk executive and chief risk officer for the Investment Solutions Group. In this role, he was responsible for providing risk oversight of key priorities across Bank of America, as well as material risks related to investment advice, strategy and products across Merrill Lynch and Bank of America Private Bank. Prior to that, Cappello served as executive director of operational risk for UBS Wealth and Asset Management. He began his career in 2002 as a financial advisor and in field leadership positions supporting financial advisors at UBS.

“There are a number of macro trends in the marketplace that make LPL’s evolving platform ripe for expansion, and I’m excited for the opportunity to help lead the firm into this new era of advice. LPL has established a reputation for leadership and innovation in the industry, and the firm is buoyed by the strength of its management team. At a time when investors need the trusted guidance of a financial advisor more than ever before, I’m proud to be part of a firm that is entirely focused on serving the needs of advisors, RIAs and institutions and the important work they do for their clients,” said Cappello.

Cappello earned a BS in business administration from the University of Central Florida and an MBA from Fordham University. He is a Chartered Financial Analyst (CFA) charterholder and a member of the New York Society of Security Analysts.


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.

*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.

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