Home Alts News LPL Financial Adds Former Altruist Executive to Management Team

LPL Financial Adds Former Altruist Executive to Management Team

LPL Financial LLC, the nation’s largest independent broker-dealer, announced the addition of an executive vice president, institution services.

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LPL Financial LLC, the nation’s largest independent broker-dealer, announced that Pete Dorsey has joined the firm as executive vice president of institution services. Dorsey will provide strategic leadership to the team responsible for LPL’s bank, credit union and enterprise clients, while working to deepen and strengthen these clients’ personal interactions and experiences with the company.

Dorsey joins LPL from Altruist, where he served as chief strategy and revenue officer. He brings more than two decades of experience in the financial services industry, holding leadership positions in sales, practice management and operations as a managing director at TD Ameritrade and vice president at Fidelity Investments.

“As LPL’s presence in the institution space continues to grow, we are confident that Pete will bring tremendous value to our partners and their financial advisors,” said Enyedi. “He has a track record of working closely with enterprises, 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 evolve our efforts to create differentiated experiences for a growing range of institutions and enterprises, helping them thrive across all aspects of their wealth business.”

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

Dorsey earned his bachelor’s degree in economics from Saint Anselm College, his MBA from Pepperdine University’s Graziadio Business School and his accredited investment fiduciary designation from the University of Pittsburgh.

LPL supports more than 21,000 financial advisors, 1,100 institution-based investment programs and 500 independent RIA firms nationwide.

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