Release Details

BOSTON, June 22, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced that it has named Tom Gooley managing director of service, trading and operations, effective June 25. Gooley will report to Mark Casady, LPL chairman and CEO, and will serve as a member of the firm's Management Committee.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3ca32354-482f-4001-b03c-a208e96d608a

"In searching for a leader for this critical group of functions, we sought an experienced change agent with the ability to transform our service model and take it to the next level," said Casady. "Tom is well respected in the industry and has built a reputation for moving the needle within large-scale organizations to achieve high levels of advisor and employee satisfaction. He has a proven track record of developing strategic solutions and implementing effective policy and process improvements. We are excited that Tom will now draw on those same talents to further enhance the service and support we provide to our clients."

Gooley has more than 20 years of experience in the financial services industry. He joins LPL from TIAA-CREF, most recently serving as senior managing director and chief risk officer of the Retirement and Individual Financial Services division. Prior to this, he worked as managing director and head of operations for the Global Wealth and Asset Management divisions of Morgan Stanley. Earlier in his career, he led Equities and Futures Operations for Bank of America Securities after spending 12 years with Goldman Sachs in a variety of leadership roles in Equities Operations.

In his new role, Gooley will be responsible for leading LPL's service, trading and operations organizations, while mitigating risk, increasing efficiency and continuously improving the client experience. Given his deep experience, Tom will also be responsible for driving the strategy, governance and execution of the firm's business process outsourcing activities offshore in India. He will work from the LPL Charlotte office for one year before relocating to San Diego.

"I am excited to join LPL and lead the team that is dedicated to delivering extraordinary service and support to LPL's financial advisors, banks and credit unions," said Gooley. "What attracted me to LPL was its mission—it's an honor to be part of a firm that's committed to offering the tools and platforms that enable advisors to deliver personal, objective financial advice. Having previously managed many large-scale service, trading and operations functions in my career, I look forward to applying my experiences to a new and distinctive set of opportunities at LPL."

Casady concluded, "With his extensive knowledge and operations expertise, we believe that Tom will provide leadership and direction that will position LPL to deliver increased value to our clients and further differentiate us from the competition. His hiring indicates our commitment to continually increasing the strength of talent at LPL, and now with Tom on board, our leadership team is poised to build upon LPL's already strong results and guide the organization to even greater market leadership."

*Based on total revenues, Financial Planning magazine, June 1996-2015

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. 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 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.

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