LPL Financial Names Victor Fetter Managing Director and Chief Information Officer

  LPL Financial Names Victor Fetter Managing Director and Chief Information

PR Newswire

SAN DIEGO, Dec. 13, 2012

SAN DIEGO, Dec. 13, 2012 /PRNewswire/ --LPL Financial LLC, the nation's
largest independent broker-dealer* and a wholly owned subsidiary of LPL
Financial Holdings Inc. (NASDAQ: LPLA), today announced that Victor Fetter has
been appointed chief information officer (CIO) and managing director of the
company's Business Technology Services (BTS) business unit, effective December
17, 2012. Mr. Fetter will be based in Charlotte and will report to Mark
Casady, LPL Financial chairman and CEO. He will also serve as a member of the
firm's Executive Management Committee.

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Mr. Fetter, a 22-year IT industry veteran, will join LPL Financial from Dell
Inc., where he was vice president and chief information officer of Dell
online. Since 2007, he has been instrumental in delivering global solutions
for Dell's consumer and commercial customers. Prior to his time at Dell, he
served as the global CIO at Mercer Human Resources Consulting.

Mr. Casady said, "The strategic decisions we make as a company always relate
first and foremost to the value we create for our advisors and institutional
customers. Hiring a CIO of Victor's caliber is an indicator of our strong
commitment to investing in solutions and capabilities that differentiate our
technology platform in the marketplace, and of the enhancements we are making
to improve service delivery and execution for our employees and customers

In his new role, Mr. Fetter will build upon the strong technology foundation
laid by Chris Feeney, the company's current CIO. Following the conclusion of
a transition period over the next several months, Mr. Feeney has decided to
retire after five years of service with LPL Financial and more than 30 years
in the financial services technology industry.

"With Chris's help, our technology transformation is underway and the roadmap
is drawn for our next steps forward. We are grateful for Chris's years of
service and contributions to the success of our firm and wish him well in the
next phase of his life," Mr. Casady said.

The evolution of the LPL Financial technology platform will help to enhance
the services the company offers the advisors and institutions it serves, while
advancing the infrastructure, efficiencies, and functionality that will
support the firm's Service Value Commitment. There will be no impact to the
timing of scheduled technology releases as a result of the transition.

Mr. Casady added, "Our ability to attract an executive such as Victor speaks
to the strength of our firm's reputation, the attractiveness of our mission
and business model, and the powerful opportunities for LPL Financial to
continue to grow as a leader in the financial services industry – particularly
through the use of technology to more efficiently and effectively serve our
customers and their end clients, creating a mutual competitive advantage among
our industry peers."

Mr. Fetter's accomplishments include delivering robust, personalized digital
experiences and end-to-end technology solutions for consumer and commercial
customers; driving IT efficiency with a focus on increased innovation;
delivering highly scalable infrastructure solutions; and enhancing sales and
corporate systems, including the architecture of global online, mobile and
social commerce capabilities.

Mr. Fetter said, "I am thrilled to be joining LPL Financial, and I look
forward to working with Chris and the many talented members of the BTS team to
reinforce and extend the company's technology leadership and overall
competitiveness in the financial services space. Having led multiple IT
transformations to adapt technology to new business demands, I look forward to
applying these experiences to a new and distinctive set of challenges and
opportunities at LPL Financial."

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks
and uncertainties, including statements regarding expected changes in senior
management positions, future technology enhancements and releases,
improvements to the services offered to advisors and institutions, and other
matters. The words "anticipates," "believes," "expects," "may," "plans,"
"predicts," "will" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. Forward-looking statements are not guarantees
that the future results, plans, intentions or expectations expressed or
implied by LPL Financial Holdings Inc. (the "Company") will be achieved.
Matters subject to forward-looking statements involve known and unknown risks
and uncertainties, including economic, legislative, regulatory, competitive
and other factors, which may cause actual financial or operating results,
levels of activity, or the timing of events, to be materially different than
those expressed or implied by forward-looking statements. Important factors
that could cause or contribute to such differences include: the Company's
success in developing and implementing its technology transformation plans and
initiatives, the Company's success in attracting and retaining information
technology personnel; effects of competition in the financial services
industry; changes in the number of the Company's financial advisors and
institutions, and their ability to market effectively financial products and
services; the Company's success in negotiating agreements with current or
additional technology vendors; the Company's success in integrating the
operations of acquired businesses; the effect of current, pending and future
legislation, regulation and regulatory actions; and the other factors set
forth in Part I, "Item 1A. Risk Factors" in the Company's 2011 Annual Report
on Form 10-K. Except as required by law, the Company specifically disclaims
any obligation to update any forward-looking statements as a result of
developments occurring after the date of this quarterly report, even if its
estimates change, and you should not rely on those statements as representing
the Company's views as of any date subsequent to the date of this press

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc.
(NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on
total revenues, Financial Planning magazine, June 1996-2012), a top RIA
custodian, and a leading independent consultant to retirement plans. LPL
Financial offers integrated technology, comprehensive clearing and compliance
services, practice management programs and training, and independent research
to over 13,100 financial advisors and approximately 685 financial
institutions. In addition, LPL Financial supports over 4,500 financial
advisors licensed with insurance companies by providing customized clearing,
advisory platforms and technology solutions. LPL Financial and its affiliates
have approximately 2,900 employees with primary offices in Boston, Charlotte,
and San Diego. For more information, please visit

Securities and Advisory Services offered through LPL Financial. A Registered
Investment Advisor, Member FINRA/SIPC

*Based on total revenues, Financial Planning magazine, June 1996-2012


Investor Relations                Media Relations
Trap Kloman                       Betsy Weinberger
LPL Financial                     LPL Financial
Phone: (617) 897-4574             Phone: (858) 900-7122
Email: Email:
                                  Michael Herley
                                  Kekst & Company
                                  Phone: (212) 521-4897

SOURCE LPL Financial

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