LPL Financial: New Executive Vice President Joins LPL as Executive Vice President, Institutional Services

SAN DIEGO – September 26, 2022 –LPL Financial LLC today announced that Pete Dorsey has joined the company as Executive Vice President, Institution Services. Dorsey will provide strategic leadership to the team responsible for LPL’s banking, credit union and corporate clients, while working to deepen and strengthen these clients’ personal interactions and experiences with LPL. He started with LPL on September 21, reporting to Matt Enyedi, Managing Director of National Sales and Marketing.

Dorsey joins LPL from Altruist, where he served as Chief Strategy and Revenue Officer since February 2021. He brings over two decades of experience in the institutional sector, holding leadership positions in sales, practice and operations as Managing Director at TD Ameritrade and as Vice President at Fidelity Investments.

“As LPL’s presence in the institutional space continues to grow, we are confident that Pete will bring tremendous value to our partners and their financial advisors,” Enyedi said. “He is used to working closely with companies, institutions and advisors to help them establish and grow their practices, and he is deeply committed to their success. With Pete’s leadership, LPL will continue to do evolve our efforts to create differentiated experiences for a growing range of institutions and businesses, helping them to thrive in all aspects of their heritage business.”

Dorsey succeeds Shawn Mihal, who joined the firm with the acquisition of Waddell & Reed in early 2021.

“I am thrilled to join the LPL Institution Services team and look forward to building meaningful relationships with our institutions and supporting their advisors,” Dorsey said. “LPL’s commitment to the institutional space has impressed me, along with the firm’s continued provision of the investment solutions, strategies, tools and resources needed to help programs and institutions thrive. LPL has shown tremendous success in the market and is poised to continue that momentum for the long term.When you combine the culture and people we have, with the platform and capabilities, it’s This is an exciting opportunity that will result in improved services and experiences for our customers.

Dorsey earned his bachelor’s degree in economics from Saint Anselm College and his MBA from Pepperdine University’s Graziadio Business School. He earned his Accredited Investment Fiduciary (AIF) designation from the University of Pittsburgh.

About LPL Financial

LPL Financial (Nasdaq: LPLA) was founded on the principle that the business should work for the advisor, not the other way around. Today, LPL is a leader in the markets we serve,** supporting nearly 21,000 financial advisors, and approximately 1,100 institutional investment programs and 500 independent RIA firms nationwide. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to personalized advice from a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice perfectly. And they have the freedom to manage their relationships with their customers because they know their customers best. Simply put, we take care of our advisors, so they can take care of their clients.

** Best RIA Custodian (Cerulli Associates, 2020 US RIA Marketplace Report); #1 independent brokerage in the United States (based on total revenue, Financial Planning magazine 1996-2021); #1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 company since June 2021. LPL and its affiliates provide financial services only from the United States.

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Throughout this communication, the terms “financial advisers” and “advisors” are used to refer to registered representatives and/or representatives of investment advisers affiliated with LPL Financial LLC.

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