Industry Executive Jim McHale Joins LPL Financial as Chief Compliance Officer

Rhea-AI Summary

LPL Financial LLC (LPL) announces the appointment of Jim McHale as Executive Vice President and Chief Compliance Officer, aiming to strengthen the firm's risk management culture. McHale, with extensive industry experience, will lead LPL's compliance organization, focusing on regulatory compliance, risk management, and control environment enhancement. He joins from Wells Fargo and brings a wealth of knowledge in compliance and risk management, positioning LPL well to advocate for its clients and advisors.

McHale’s deep industry experience advances the firm’s commitment to a strong risk management culture

SAN DIEGO, Nov. 29, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced Executive Vice President and Chief Compliance Officer Jim McHale has joined the firm. McHale will lead LPL’s compliance organization, helping to drive a strong risk management culture in an ever-evolving regulatory environment. He reports to Executive Vice President and Chief Risk Officer Brent Simonich.

McHale is responsible for designing and maintaining LPL’s regulatory compliance program, helping the business manage and mitigate risk, and enhancing the control environment, with a focus on practical, common-sense solutions.

“Jim is a respected professional in compliance and risk management, with extensive financial services and regulatory experience and a strong record for building effective and efficient risk management routines and governance. His experiences in the industry and deep understanding of the compliance landscape positions our team well to help advisors protect their practices and enable their growth,” said Simonich. “His leadership in regulatory compliance risk, control design, and pragmatism will be key as we continue to prioritize advocacy on behalf of our clients.”

“LPL is clearly investing in and transforming the way it manages risk with a view towards doing what’s right for its advisors, institutions, and the clients they serve,” said McHale. “I’m energized to be part of that, and to help shape the strategic direction of the firm.”

McHale joins LPL from Wells Fargo, where he most recently served as executive vice president and head of compliance for the Wealth and Investment Management Division. He has held various legal and compliance roles over the course of his career, including as global head of brokerage compliance at E*TRADE Financial Corporation, managing director and associate general counsel at SIFMA, and serving on staff of the SEC’s Division of Trading and Markets.

McHale holds a Juris Doctor from the University of South Carolina School of Law and a Bachelor of Science degree in Business Administration from the University of South Carolina. 

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 560 registered investment advisor (RIA) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises so they can take care of their clients.

Securities and Advisory services are offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

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FAQ

Who is the new Executive Vice President and Chief Compliance Officer of LPL Financial LLC?

Jim McHale has been appointed as the new Executive Vice President and Chief Compliance Officer of LPL Financial LLC.

What will Jim McHale focus on in his new role at LPL Financial LLC?

Jim McHale will focus on regulatory compliance, risk management, and enhancing the control environment at LPL Financial LLC.

Where did Jim McHale work before joining LPL Financial LLC?

Jim McHale previously worked at Wells Fargo as the executive vice president and head of compliance for the Wealth and Investment Management Division.

What are Jim McHale's qualifications?

Jim McHale holds a Juris Doctor from the University of South Carolina School of Law and a Bachelor of Science degree in Business Administration from the University of South Carolina.

What is the ticker symbol for LPL Financial LLC?

The ticker symbol for LPL Financial LLC is LPL.