Analysts Largely View LPL CEO’s Firing as ‘Isolated Incident’

Oct. 3, 2024 - Wealth Management

LPL Financial’s board of directors terminated President and CEO Dan Arnold for cause this week, citing violations of respectful workplace policies. Some analysts covering the firm maintained their ratings on LPL, saying this will not materially impact the day-to-day operations of the firm.

LPL Financial, the independent broker/dealer with more than 23,000 advisors, said its board terminated Arnold for cause. He also resigned from the board and Rich Steinmeier, managing director and chief growth officer, was named interim CEO, effective immediately.

LPL is currently trading at $230.77, up 0.

40% in trading on Wednesday, as of 3:56 p.m.

Eastern time...