The chief of the largest independent broker-dealer in the U.S. has three big areas of investment on his mind: adapting to the DoL's fiduciary rule, automation and service, and technological capabilities.

Mark Casady LPL Chairman & Chief Executive Officer

"While the journey never ends, we're rounding a new corner here at LPL," Mark Casady, chairman and CEO of LPL, tells financial advisors this morning in his opening remarks at LPL's giant 2016 Focus conference at the San Diego Convention Center. (LPL estimates that more than 6,000 people, including more than 3,500 advisors and staff, are in attendance.)

Casady talks about LPL FAs' and LPL staff's "can-do spirit". He says that LPL has "gotten through those big investments ... massive investments" in a variety of areas. Yet he vows to "keep forging ahead", especially on the automation and service, technology, and the fiduciary rule.

"There's plenty of change in the world," Casady says. "We're not going to stop at all on those investments."

"Now that we've built this great foundation of infrastructure, we're positioned in strength," Casady adds. "We have a long history of working together, of managing through change."

Casady noted that LPL and the FAs who affiliate with LPL now work with "half a trillion dollars of client assets". And he got a round of applause from the crowd when he reminded FAs that LPL is "the only firm in the top 10 who provides investment advice and counsel without any proprietary products."

Casady closed his remarks by rallying FAs around the importance of their profession:

What we do is right for consumers ... makes a difference for consumers ... We're the right place to be during times of change. We're strong partners together ... We believe in you, we believe in the power of advice, and we will continue to invest behind it and in your success.

 

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