Matthew Morningstar Joins LPL Financial as EVP, Compliance, Legal & Risk
LPL Financial has appointed Matthew Morningstar as executive vice president of Compliance, Legal & Risk, effective September 7, 2021. Morningstar will oversee litigation, regulatory matters, and customer disputes, reporting to Michelle Oroschakoff. He brings significant experience from Morgan Stanley, where he led Litigation and Regulatory Enforcement. Morningstar aims to enhance LPL's legal functions and support diversity initiatives. LPL Financial, listed on Nasdaq as LPLA, serves over 19,000 financial advisors and emphasizes an advisor-centered model.
- Matthew Morningstar's hiring enhances LPL Financial's compliance and legal expertise.
- Morningstar's background at Morgan Stanley brings valuable experience.
- Increased focus on diversity initiatives within the legal framework.
- None.
CHARLOTTE, N.C., Sept. 07, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced that Matthew Morningstar has joined the firm as executive vice president, Compliance, Legal & Risk, effective Sept. 7. In his role, Morningstar has oversight of the firm’s litigation, arbitrations, regulatory matters, and customer disputes. He reports to Michelle Oroschakoff, LPL chief legal officer and managing director, Compliance, Legal & Risk.
“Matt is a proven litigator and leader with deep knowledge of our industry’s legal and regulatory environment. With his legal expertise and strategic acumen, he will further enable us to extend a customer care approach to our legal functions and drive positive outcomes for our business partners,” said Oroschakoff. “In addition, Matt understands the strength that comes from diverse teams with multitudes of perspectives and experiences. His steadfast commitment to social justice and diversity inspires us all. We are confident Matt will lead his team with the same people-oriented approach and provide substantial support to LPL’s diversity and inclusion initiatives. We are incredibly fortunate to have him join the LPL family.”
Morningstar joins LPL from Morgan Stanley, where he most recently served as head of Litigation and Regulatory Enforcement for the Investment Management division. Morningstar received a bachelor’s degree from Columbia University and a law degree from Cornell Law School. When he’s not working, Morningstar devotes his time to activism and civic engagement. He is the co-chair of the Committee to Enhance Diversity in the Profession for the New York City Bar. In addition, he has been awarded the 2013 Out and Proud Corporate Counsel Award from the National LGBT Bar Association and the Advisory Council Leadership Award from the National Association of Minority and Women Owned Law Firms.
“I am thrilled to be part of LPL,” Morningstar said. “I look forward to connecting and collaborating with LPL’s Compliance, Legal and Risk teams, as well as clients and colleagues across the organization and beyond, to drive strategic excellence in the firm’s legal functions and contribute to the mission of taking care of advisors so they can take care of their clients.”
About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
*Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021
Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC.
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 LLC. 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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