LPL Financial Names Former SEC Regional Director David P. Bergers Managing Director for Legal and Government Relations and General Counsel for LPL Financial Holdings, Inc.
BOSTON, June 20, 2013 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer,* and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced David P. Bergers as the firm's new Managing Director for Legal and Government Relations and General Counsel for LPL Financial Holdings, Inc. Mr. Bergers will join the firm on August 5th, reporting to LPL Financial
Chairman and CEO Mark Casady. He will serve as a member of the firm's Management Committee, and also on the Risk Oversight Committee.
Mr. Bergers comes to LPL Financial after 13 years with the Securities and Exchange Commission (SEC), most recently as acting deputy director of the enforcement division in Washington, D.C. He was director of the SEC's Boston regional office from 2006 to 2013. He is replacing longtime LPL Financial legal chief Stephanie Brown, who after 24 years at LPL Financial will be returning to private practice. Ms. Brown will join the Boston office of Markun, Zusman, Freniere & Compton
"We are fortunate to have someone of David's caliber and expertise in regulatory and other matters joining LPL Financial to head our legal and government relations functions. His perspective and experience will strengthen the capabilities of an extremely talented team. He also has significant management experience, having most recently helped oversee a team of 1,300 people and successfully transformed both the enforcement and examination programs at the SEC," noted Mr. Casady, LPL Financial's Chairman and CEO. "At the same time, we greatly benefited from Stephanie's deep institutional knowledge and experience navigating the legal waters during decades of dramatic growth at LPL Financial and
significant change in the financial services industry. After a quarter-century of distinguished work at our company, Stephanie has decided to return to private practice, and she will be an extraordinary asset at her new firm."
Mr. Bergers previously practiced at law firms in Philadelphia and Boston, and served as a vice president and assistant general counsel of a regional broker-dealer, as well as primary counsel to an affiliated investment adviser. Mr. Bergers obtained his bachelor's degree in 1989 from Eastern Nazarene College, and earned his law degree in 1992 at Yale Law School.
"I am honored to lead LPL Financial's legal and government relations team, and I look forward to working together with LPL's employees, advisors and institutions as they serve investors in a rapidly-changing industry," said Mr. Bergers.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is the nation's largest independent broker-dealer,* a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,300 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports over 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,900 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
*Based on total revenues, Financial Planning magazine, June 1996-2013
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Source: LPL Financial
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