LPL Financial expanded the roles of two senior executives, Mimi Bock and Ryan Parker, creating a new structure that it said represents a strategic shift in the support provided by its Advisor & Institution Solutions (AIS) business.
Bock will become managing director for client experience and training (CET), a unit that encompasses client communications, marketing support services, conference planning and training services. In conjunction with this strategic shift, most of the firm’s marketing functions and all of its training teams will be transitioned to the CET unit.
As part of the restructuring, the chief marketing officer position is being eliminated. Joan Khoury, the firm’s CMO, will be leaving LPL in August.
Bock had previously served as executive vice president of independent advisor services business consulting. Parker, who was also an executive vice president, is being promoted to managing director for investment and planning solutions. Both Bock and Parker will report to LPL president Robert Moore.
The changes come about two months after Derek Bruton resigned as head of independent advisor services after LPL expressed concerns about his "interactions" with other employees. Bill Morrissey, the firm's longtime head of business development, was named to replace Bruton.
“We recognize the importance of always evolving to ensure the right people and positions are in place to meet the expanding opportunities within the marketplace and enhance the client experience,” Moore said. “I’m pleased that the depth of our talent allows us to fill these important roles within our new structure with leaders who already possess a personal connection to our clients and their business. I’m thrilled that LPL Financial is taking the lead in establishing teams solely dedicated to ensuring that our clients have the best experience possible and can more fully harness the power of affiliation with LPL.”