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Jim McHale, Executive Vice President and Chief Compliance Officer at LPL

Practice Management > Building Your Business > Recruiting

LPL Hires Wells Fargo Wealth Exec as Chief Compliance Officer

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LPL Financial has hired Jim McHale, the former head of compliance for Wells Fargo’s wealth and investment management division, as the firm’s new chief compliance officer.

McHale had been with Wells Fargo since 2014, prior to which he led global brokerage compliance efforts for E-Trade and served as a staff member in the Division of Trading and Markets at the U.S. Securities and Exchange Commission.

In the new role at LPL, McHale reports to chief risk officer Brent Simonich, and he will lead LPL’s internal compliance organization as the firm navigates a fast-evolving regulatory environment and an increasingly competitive wealth management industry.

In a statement announcing the hiring, Simonich cites McHale’s “strong record for building effective and efficient risk management routines and governance,” adding that his experience in the industry and understanding of the compliance landscape “positions our team well to help advisors protect their practices and enable their growth.”

McHale says he is “energized” to be part of LPL’s effort “to invest in and [transform] the way it manages risk with a view towards doing what’s right for its advisors, institutions and the clients they serve.”

News of the hiring comes during a busy moment for LPL and a dynamic time for the advisor industry at large. The firm recently announced its 50th affiliation within its employee advisor channel, and it also just rolled out a new private wealth channel to support advisors serving clients with at least $5 million in assets.

Pictured: Jim McHale 


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