LPL Financial has chosen Rich Steinmeier to take over as CEO on the heels of the company’s termination of former Dan Arnold for violating its code of conduct.
Steinmeier, who had been named interim CEO on Oct. 1, was also elected a member of the board.
Steinmeier previously served as managing director and chief growth officer and, prior to that, as divisional president, business strategy and growth. As chief growth officer, he led teams responsible for shaping corporate and business line strategy, recruiting new financial advisers and institutions, leading the field management of LPL employee advisers, creating and deploying capital solutions to LPL clients and leading the marketing and communications functions.
Before joining LPL in 2018, Steinmeier held senior leadership roles at UBS Financial and Merrill Lynch and worked as a consultant f
