LPL Financial Holdings Inc.
LPL Financial Announces Resignation and Consulting Agreement with Former Chief Legal Officer
Summary
On July 2, 2025, LPL Financial Holdings Inc. announced that Althea Brown, its former Chief Legal Officer and Corporate Secretary, has entered into a consulting agreement with the company. This agreement follows Ms. Brown's resignation on May 3, 2025, and will see her providing consulting services until September 20, 2025, to support the transition of her responsibilities. Additionally, the agreement waives her obligation to repay approximately $270,000 related to her sign-on bonus and relocation expenses. Her restricted stock units will continue to vest according to their terms during this period. A copy of the Consulting Agreement is filed as Exhibit 10.1.
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Exhibits (1)
About LPL Financial Holdings Inc.
LPL Financial Holdings Inc. operates as a leading independent broker-dealer network in the United States. It provides an integrated platform of brokerage and investment advisory services to independent financial advisers, financial institutions, and registered investment advisors. The primary function of LPL is to facilitate access to a wide array of financial products such as mutual funds, fixed and variable annuities, equities, and fixed income securities, along with comprehensive financial planning tools. Notable for its expansive network, LPL collaborates with thousands of financial professionals, enabling them to offer personalized client services while benefiting from the company's robust technological and regulatory compliance support. Its operations significantly impact sectors such as wealth management and financial planning, addressing the needs of retail clients and institutional investors. Market-wise, LPL Financial Holdings Inc. plays a crucial role in democratizing financial advice access, especially with its model that empowers independent advisers. Headquartered in San Diego, California, LPL continues to thrive by emphasizing adviser independence and providing scalable solutions that help financial professionals grow their practices.
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