internal
Richard Steinmeier
Chief Executive Officer
Executive
7 yr
16 reports
LPL Financial Holdings Inc. ·LPLA
Single-segment broker-dealer run without a COO layer
Financials · Fortune #340 · Functional structure · 9K employees · San Diego, California
View as of:
7
CEO span
↓ tighter than peers (avg 12)
2.6
Avg span
moderate
4
Max depth
4 levels
4 yr
Avg tenure
stable vs FY2024
60%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$17.0B
Net income
$863M
Total assets
$18.5B
Shares out
80M
Sourced from LPL Financial Holdings Inc. DEF 14A · filed 2026-04-02 ↗ View on SEC
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LPL Financial Holdings Inc. organizational chart
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Single-segment broker-dealer run without a COO layer. This page maps LPL Financial’s functional executive structure, showing CEO-level spans, key C-suite roles, recent leadership changes, compensation, board governance, and peer comparisons.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Somesh Khanna joined as Director
Elected to the Board effective January 5, 2026.
Source · See change logScenario views in the chart
- Add Chief Operating Officer Introduce a COO to absorb execution load across operations, technology, and client services, reducing CEO span.
Atlas work this supports
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The people
Who's running this
8 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
Matthew Audette
President and Chief Financial Officer
Finance
3 yr
3 reports
internal
Matthew Enyedi
Group Managing Director, Chief Client Officer
Client & Advisor Services
5 yr
2 reports
internal
Greg Gates
Group Managing Director, Chief Technology and Information Officer
Technology
6 yr
2 reports
internal
Aneri Jambusaria
Group Managing Director, Chief Wealth Officer
Wealth Management
2 yr
1 reports
Open Role
Chief Risk Officer
Risk & Compliance
1 yr
1 reports
Open Role
Chief People Officer
Human Resources
1 yr
0 reports
Open Role
Chief Marketing Officer
Marketing
1 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 2 named executive officers disclosed. Bar length scales with total compensation.
Richard Steinmeier $14.6M
- Base salary
- $900K
- Stock awards
- $10.05M
- Non-equity incentive
- $3.59M
- Other
- $38K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Matthew Audette $10.0M
- Base salary
- $750K
- Stock awards
- $6.26M
- Non-equity incentive
- $2.50M
- Other
- $514K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
| Holder | Shares | % of class |
|---|---|---|
| Richard Steinmeier | 20K | <1% |
| Matthew Audette | 10K | <1% |
The businesses
How LPL Financial Holdings Inc. divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Finance
600 employees
President and Chief Financial Officer (Matthew Audette)
Oversees financial reporting, capital management, audit, and investor relations.
Technology
2K employees
Chief Technology and Information Officer (Greg Gates)
Builds and operates LPL’s integrated advisor and custody technology platform.
Client & Advisor Services
3K employees
Chief Client Officer (Matthew Enyedi)
Supports independent advisors and institutions across service, onboarding, and operations.
Wealth Management
1K employees
Chief Wealth Officer (Aneri Jambusaria)
Leads investment solutions, advisory platforms, and wealth products.
The thesis
Why this org is unusual
LPL Financial operates a single-segment brokerage business without a dedicated COO, an uncommon choice for a $17B-revenue financial firm.
The CEO directly oversees finance, technology, client services, wealth management, and risk, resulting in a wide CEO span but limited management layers.
The structure is strongly functional, reinforced by the company’s disclosure that it has only one reportable segment and that the CODM is the CEO and President/CFO together. This concentrates decision-making at the top and favors coordination across advisor, institutional, and technology platforms.
Compared with peers, LPL’s absence of divisional P&L leaders reflects its integrated platform strategy, but it also places execution risk on a relatively small executive team as scale and regulatory complexity increase.
- No Chief Operating Officer
- Single reportable segment
- Wide CEO span
The comparison
How LPL Financial Holdings Inc. stacks up
Compared with Schwab, Fidelity, and Morgan Stanley Wealth Management, LPL runs a leaner executive structure with fewer divisional CEOs and no COO. Peers typically add an operating layer to manage scale and regulatory load. LPL’s model emphasizes platform integration over autonomous business units, trading managerial …
C-suite size
Reporting depth
LPL Financial Holdings Inc.
4 levels
5 levels
6 levels
Raymond James
5 levels
5 levels
Avg C-suite tenure
LPL Financial Holdings Inc.
4 yr
6 yr
7 yr
Raymond James
8 yr
Has COO / Has CAIO
LPL Financial Holdings Inc. — no COO — no CAIO
Raymond James ✓ COO — no CAIO
Current signals
What changed recently
The most consequential recent change was the departure of Chief Legal Officer Althea Brown in 2025.
- new
- departedAlthea Brown Chief Legal Officer
Resigned as CLO on May 3, 2025; transition consulting through Sept 20, 2025.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-04-02
- CEO
- Richard Steinmeier
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 4 yr
Leadership team centered on functional heads with no COO.
Named executive officers (5)
- Richard Steinmeier - Chief Executive Officer since 2018
- Matthew Audette - President and Chief Financial Officer since 2022
- Matthew Enyedi - Chief Client Officer since 2020
- Greg Gates - Chief Technology and Information Officer since 2019
- Aneri Jambusaria - Chief Wealth Officer since 2023
FY2024
DEF 14A filed 2025-03-25
- CEO
- Richard Steinmeier
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 3.6 yr
Stable executive team entering 2025.
FY2023
DEF 14A filed 2024-03-26
- CEO
- Richard Steinmeier
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 3.2 yr
Early phase of current functional leadership structure.
Year-over-year changes
2025 saw the departure of the Chief Legal Officer, slightly reducing CEO span.
- CEO span: 6 → 5
- C-suite size: 6 → 5
- Avg tenure: 3.6 → 4 yr
- departed Althea Brown - Chief Legal Officer (was Chief Legal Officer) (8-K Jul 3, 2025)
The board
Board of directors
9 directors. 8 of 9 independent (89%). Source: most recent DEF 14A.
Richard Steinmeier
Inside
CEO, LPL Financial Holdings Inc.
James S. Putnam
Chair Independent
Edward C. Bernard
Independent
H. Paulett Eberhart
Independent
William F. Glavin, Jr.
Independent
Somesh Khanna
Independent
Albert J. Ko
Independent
Allison H. Mnookin
Independent
Open Mulcahy
Independent
Frequently Asked Questions
Who is the CEO of LPL Financial Holdings?
Richard Steinmeier has served as CEO since 2018.
What type of organizational structure does LPL Financial Holdings use?
LPL uses a functional structure with a single reportable operating segment.
How many direct reports does LPL Financial Holdings's CEO have?
The CEO has seven direct executive reports.
How has LPL Financial Holdings's leadership changed recently?
Recent changes include the 2025 departure of Chief Legal Officer Althea Brown and the 2026 election of Somesh Khanna to the board.
Does LPL Financial Holdings have a COO?
No. LPL operates without a Chief Operating Officer, with functions reporting directly to the CEO.
Sources
- 8-K Filing, Jan 2026
- 8-K Filing, Jul 2025
- SEC EDGAR: LPL Financial Holdings Inc. DEF 14A Proxy Statement
- SEC EDGAR: LPL Financial Holdings Inc. 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). LPL Financial Holdings Inc. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/lpl-financial-holdings/MLA 9th
"LPL Financial Holdings Inc. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/lpl-financial-holdings/. Accessed .Chicago 17
Creately. "LPL Financial Holdings Inc. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/lpl-financial-holdings/.Original SEC source View on SEC ↗
LPL Financial Holdings Inc.. DEF 14A. Filed 2026-04-02. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1397911/000119312526140066/d49466ddef14a.htmPermanent URL: https://creately.com/org-chart/fortune-500/lpl-financial-holdings/ · last updated 2026-04-01