VP AGC - Single Advisor Contract

Job Description

Are you a team player? Are you curious to learn? Are you interested in working on meaningful projects? Are you solution-oriented and committed to delivering results? Do you like thinking outside the box, learning new skills and problem solving? If so, then this could be the role for you!  

Job Overview:

LPL Financial seeks an experienced attorney to join its corporate legal advice team as Vice President, Assistant General Counsel specializing in single advisor contract drafting and implementation. This VP will report to a Senior Vice President responsible for providing strategic legal advice to various business units, including LPL’s broker-dealer and investment advisory businesses. This position primarily entails supporting the firm’s strategic initiatives regarding business expansion and integration including drafting and modifying client agreements, account documentation and disclosures, preparing regulatory filings, and performing legal research and drafting memoranda concerning compliance with applicable laws, rules and regulations and the firm’s policies and procedures.  Additional areas of focus will include advising LPL’s: (1) Compliance team; (2) Supervision and Surveillance teams; (3) Product Due Diligence and Onboarding teams; and (4) Advisor Conduct groups. The position will also cover counseling the firm’s Product Review group with respect to due diligence requirements, sales practices and controls.

The ideal candidate is one who can serve as the legal lead on cross-functional integration teams, thrive in a fast-paced business environment and manage a substantial docket autonomously.  A qualified candidate will have relevant experience within a law firm, counseling the financial services industry, specifically the broker-dealer and retail investment advisory business with respect to federal, state and SRO regulatory compliance, enforcement defense, and/or agency or private civil litigation/arbitration defense.    

Responsibilities:

• Day-to-day legal support for LPL’s financial services business, including providing legal analysis and advice with respect to compliance with applicable rules, regulations and legal risks relating to the brokerage and investment advisory business.

• Drafting and modifying client agreements, account documentation and disclosures and preparing regulatory filings. 

• Counseling on due diligence standards and establishing proper protocols for the onboarding and sale of investments.

• Reviewing, revising and developing internal policies and procedures in response to business initiatives and regulatory developments.

• Performing legal research and drafting memoranda concerning compliance with applicable laws, rules and regulations.

• Interacting with other members of the Legal Department as well as other key LPL business units including, Operations, Supervision, Compliance and Risk.

What are we looking for?

This position requires excellent communication skills, both verbal and written.  The candidate must demonstrate keen strategic thinking, and have excellent analytical, project management and time management abilities.  The candidate will be expected to perform thorough legal research and document such analyses and conclusions. Presentation skills are also highly important. Provide timely escalations to partners within LPL’s control functions, including risk assessments and status updates of matters for executive management.

Requirements:

• 5-7 years of experience in dealing with issues arising under the Securities Exchange Act, Investment Advisers Act of 1940, Investment Company Act of 1940, FINRA rules and regulations as well as related federal and state securities laws.

• Prior experience drafting a single advisor agreement or master agreement to address multiple business channels, account registration types and investment services is strongly preferred.

• Experience with advising on regulatory matters in connection with M&A and other capital markets transactions in the wealth management arena, including counseling business on expansion and integration issues impacting investment advisory and brokerage businesses and drafting key documents such as client agreements, account documentation and disclosures and various filings with regulators. 

• Working understanding of alternative investments, including but not limited to, hedge funds, VC funds, private equity funds, public non-traded products, business development corporations and private placements.

• Understanding of regulatory landscape applicable to broker-dealers and registered investment advisers, including a familiarity with regulatory processes (SEC and FINRA).

• Strong working knowledge of federal securities laws and rule making process; regulatory notices; interpretive guidance; and agency interpretations.

• Proficiency in legal writing, contract drafting and written communication skills.

• Proficiency with MS Word, Excel, PowerPoint, and Outlook

Core Competencies:

• Ability to interface effectively with internal personnel as well as LPL advisors, clients and their counsel

• Ability to understand and assess a wide variety of complex business models

• Driven self-starter who excels at working independently while also engaging and coordinating effectively within a global program.  Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment

• Exceptional written and verbal communications skills, attention to detail, and effective time management

• Sound judgment and an ability to appropriately escalate issues internally

• Proven ability to handle highly confidential information professionally and with appropriate discretion

• Exceptional interpersonal skills and a strong collaborative mindset.

#LI-PA

 

Pay Range:

$163,725-$272,875/year

 

Actual base salary varies based on factors, including but not limited to, relevant skill, prior experience, education, base salary of internal peers, demonstrated performance, and geographic location. Additionally, LPL Total Rewards package is highly competitive, designed to support your success at work, at home, and at play – such as 401K matching, health benefits, employee stock options, paid time off, volunteer time off, and more. Your recruiter will be happy to discuss all that LPL has to offer!

 

Company Overview:

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional.

At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Join LPL Financial: Where Your Potential Meets Opportunity

At LPL Financial, we believe that everyone deserves objective financial guidance. As the nation’s leading independent broker-dealer, we offer an integrated platform of cutting-edge technology, brokerage, and investment advisor services.

Why LPL?

• Innovative Environment: We foster creativity and growth, providing a supportive and responsive leadership team. Learn more about our leadership team here!

• Limitless Career Potential: Your career at LPL has no limits, only amazing potential. Learn more about our careers here!

• Unified Mission: We are one team on one mission—taking care of our advisors so they can take care of their clients. Learn more about our mission and values here!

• Impactful Work: Our size is just right for you to make a real impact. Learn more here!

• Commitment to Equality: We support workplace equality and embrace diverse perspectives and backgrounds. Learn more here!

• Community Focus: We care for our communities and encourage our employees to do the same. Learn more here!

• Benefits and Total Rewards: Our Total Rewards package goes beyond just compensation and insurance. It includes a mix of traditional and unique benefits, perks, and resources designed to enhance your life both at work and at home. Learn more here!

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (855) 575-6947.

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