LPL Financial said it was restructuring its senior management ranks and parting ways with chief marketing officer Joan Khoury, while promoting two executives to new roles in its Advisor & Institutions Solutions Group.
Mimi Bock, the former vice president of Independent Advisor Services, will become managing director of the firm’s Client Experience and Training (CET) group, which is to include client communications, marketing support services, conference planning and training.
“In our fast changing industry, nothing is more important than making sure that LPL Financial is delivering the best possible tools, support and insights when, where and how our clients need them,” Bock said in a statement.
Ryan Parker, previously LPL’s executive vice president, is now Managing Director for Investment & Planning Solutions, which comprises advisory, investment, insurance and financial planning.
Both executives will report to LPL president Robert Moore.
The CET group replaces all of the marketing functions at LPL that had previously been under the domain of Khoury, whom Moore praised for staying on at the firm to “assist in the transition.” The move reflects LPL’s desire to move away from traditional marketing approaches and towards training and assistance functions that it feels will be more beneficial to advisors.
In Wealthmanagement.com’s recent Independent Broker Report Card, LPL’s brokers rated the firm 7.7 out of 10 when it came to management, compared to an average 9.1 from all 22 firms participating in the survey.
Overall, LPL advisors ranked the firm 7.8 in terms of satisfaction, compared to the average 9.0 for all firms.
