Derek Bruton, LPL Financial’s managing director of independent advisor services, has resigned due to concerns about his interactions with other employees, the firm said in a Securities and Exchange Commission filing.
LPL “permitted Derek Bruton to resign, effective immediately,” the SEC filing said. “The separation was not related to the company’s performance.”
Bruton's position will be filled internally, said spokeswoman Betsy Weinberger. "We anticipate announcing this new leader by the end of next week."
Bruton, who was appointed managing director of LPL in 2010, oversaw business consulting and business development for all of the firm’s independent advisors and RIAs, as well as financial planning services. He joined LPL in 2007 from TD Ameritrade Institutional, where he served as managing director and national sales manager.