LPL Names Jim Putnam as Chairman of the Board
LPL Financial LLC, a retail investment advisory firm and independent broker-dealer, named Jim Putnam as chairman of the board of directors. Putnam replaces Mark Casady, who retired as the firm’s CEO in early January, but remained on the board until March 3rd.
Putnam, who has served on the LPL board since 2005 – most recently as lead director, was employed by the firm beginning in 1983. His tenure at LPL culminated as managing director of national sales, where he was responsible for branch development, recruitment, retention, and management of the firm’s advisors.
Most recently, Putnam served as the CEO of Global Portfolio Advisors, a global brokerage clearing services provider that sold most of its operations in 2014. He started his securities career as a retail representative with Dean Witter Reynolds in 1979.
Putnam received a bachelor’s degree from Western Illinois University.
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), served approximately $517 billion in brokerage and advisory assets as of January 31, 2017. LPL is the nation’s largest independent broker-dealer based on total revenues. The company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 financial institutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego.
