Rich Steinmeier, nearly six months into his role as CEO of LPL Financial, has plans to have the firm compete with major firms like Merrill Lynch, Morgan Stanley and Charles Schwab, according to Barron’s.
Steinmeier aims to position LPL as “the unparalleled leader in wealth management” by enhancing support for financial advisers.
With 29,000 advisers and $1.7 trillion in assets, the firm can be seen as a big player already. Steinmeier, who took over in October following the dismissal of former CEO Dan Arnold for code of conduct violations, believes his experience and leadership within the company prepared him for the role.
