LPL Financial, a provider of investment and business solutions for independent financial advisers across the nation, has let its president and CEO go, citing a violation of LPL’s code of conduct.
Dan Arnold became LPL’s CFO in 2012, was named president in 2015 and stepped in as CEO in 2017, succeeding Mark Casady.
Arnold has been terminated, effective immediately, for violating LPL’s commitment to a respectful workplace on the recommendation of a special committee of directors in the course of an investigation by an outside law firm, LPL said. The investigation found Arnold made statements to employees that violated LPL’s code of conduct.
He has also resigned from the board of directors.
“LPL’s code of conduct requires every employee, no matter their title, to foster a supportive and professional workplace and show respect to each other, our stakeholders and the broader community,” said James Putnam, chair of the board of directors. “Mr. A