CHARLOTTE, N.C. — LPL Financial LLC has announced the promotion of Marc Cohen to Managing Director of Business Strategy and Innovation, marking a significant leadership shift aimed at bolstering the firm’s strategic growth and innovation initiatives. In his expanded role, Cohen will oversee the development of LPL’s corporate strategy and lead business line and affiliation strategies for independent advisors, large enterprises, and institutional channels. Additionally, he will head the company’s business services offerings and its innovation lab for emerging solutions .
Cohen’s promotion comes amid a broader leadership transition at LPL Financial. In October 2024, Rich Steinmeier was appointed CEO, succeeding Dan Arnold, who was terminated for cause . Steinmeier emphasized Cohen’s entrepreneurial mindset and innovative contributions, stating, “Marc is an entrepreneur by nature whose innovative thinking has helped reimagine the strategic evolution of our firm, including how advisors and institutions scale their businesses with LPL as their partner.”
Since joining LPL in 2018 from MarketCounsel, Cohen has played a pivotal role in developing new advisor affiliation models, particularly targeting wirehouse breakaways and registered investment advisors (RIAs). His efforts have been instrumental in expanding LPL’s attractiveness to these groups, offering flexible partnership options and comprehensive support services .
In his new capacity, Cohen will continue to drive LPL’s corporate strategy while also focusing on enhancing the firm’s business services and innovation capabilities. This includes leading the company’s innovation lab, which is dedicated to developing emerging solutions that support advisors throughout their business lifecycle .
LPL Financial is one of the largest wealth management firms in the United States, supporting over 28,000 financial advisors and managing approximately $1.7 trillion in brokerage and advisory assets. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools, and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses .
Cohen expressed his commitment to the industry and to LPL, stating, “My commitment to this industry and to LPL is grounded in the rewarding work of guiding advisors towards building thriving businesses to achieve their personal definitions of success. I’m grateful for the opportunity to continue scaling our strategies and exploring the innovative ways that LPL can better serve our clients to help them embrace their own entrepreneurial opportunities.”
This leadership change underscores LPL Financial’s dedication to strategic growth and innovation, positioning the firm to better serve its advisors and clients in an evolving financial landscape.
