Mark Casady Chairman and CEO, LPL Financial

LPL Financial continues to tower over its rivals in the independent broker-dealer space. The San Diego and Boston-based, private equity-owned company -- the largest among the independents and the fifth biggest brokerage in the country -- counts 12,027 advisors, 3.93 million client accounts and AUM of $268.9 billion as of end-September. It has been aggressively courting disenchanted wirehouse brokers.

"There's no doubt we're reaping the benefit of the destruction of trust by Wall Street," LPL chairman and CEO Mark Casady told The Wall Street Journal in July.

A former head of Scudder's mutual fund business, Casady joined LPL in the spring of 2002, when the firm had around 4,100 brokers. He became president in 2003, succeeded Todd Robinson as CEO in 2004 and added the title of chairman in 2006. Casady led a string of acquisitions, including UVEST Financial Services, three Pacific Life Insurance Company broker-dealers and Independent Financial Marketing Group in 2007.

Before moving to LPL, Casady was managing director of the mutual fund group at Deutsche Asset Management, which bought Scudder in 2002. He joined Scudder in 1994. Earlier, Casady worked at Concord Financial Group and Northern Trust. 

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