Matthew Audette has been named chief financial officer of LPL Financial LLC, LPL announced Monday.

Audette will report to LPL Chairman and CEO Mark Casady and will be based in the firm’s San Diego office. He fills the role previously held by current LPL President Dan Arnold. The change will take place Sept. 28.

Audette joins LPL Financial from E*TRADE Financial Corporation, where he most recently served as executive vice president and chief financial officer.

“Matt is an expert in capital allocation and is a leader in creating organizational efficiency, which will be invaluable as LPL enhances its client experience and continues its growth trajectory,” says Casady. “In addition, he brings outstanding shareholder relations skills to the firm, which will help us to effectively share the LPL value proposition.”

Tom Lux, who is retiring, has served as acting CFO since Arnold moved up to president.

During his 16 years with E*TRADE, Audette was instrumental in the formation of the firm's finance department and was a principal player in the growth of the franchise, overseeing a variety of corporate transactions and capital activities, LPL says. In recent years, he helped orchestrate the firm's recovery.