This week, I converse with Wealthy Steinmeier, Chief Govt Officer of LPL Monetary Holdings Inc. (Nasdaq: LPLA), the biggest unbiased broker-dealer within the nation, with 32,000 advisors and $2.6 trillion in brokerage and advisory belongings.
He earned a BS in economics from Wharton and an MBA from Stanford, and started his profession as a advisor at McKinsey. In 2006, he joined Merrill Lynch to convey the model to the mass-affluent market, operating the Monetary Advisory Heart by means of the monetary disaster; that call-center enterprise turned Merrill Edge after Financial institution of America acquired the agency. He moved to UBS, the place, as chief digital officer, he constructed out the agency’s digital and robo-advice technique. He joined LPL in 2018, operating enterprise growth, and was named CEO in October 2024. Earlier this yr, LPL closed its $2.7 billion acquisition of Commonwealth Monetary Community.
We talk about how operating a name heart by means of 2008 taught him to steer underneath stress: identify the dangers, clarify how you’re mitigating every one, and be as clear as attainable even when the information is unhealthy.
An inventory of his favourite books is right here; A transcript of our dialog is accessible right here Tuesday.
You’ll be able to stream and obtain our full dialog, together with any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts in your favourite pod hosts could be discovered right here.
You’ll want to take a look at our Masters in Enterprise subsequent week with Ann Berry, founder and Managing Accomplice of Threadneedle, an working and capital advisory platform offering strategic steerage, working help, and capital to high-growth non-public firms and funding platforms. She can be Common Accomplice of the Threadneedle Alternative Fund, investing in knowledge analytics, AI, and web3 firms on the seed stage alongside Alexis Ohanian’s enterprise agency, 776. Berry additionally hosts After Earnings, Morning Brew’s interview podcast with public-company CEOs/CFOs.
Present Studying
The Toyota Approach, Second Version: 14 Administration Ideas from the World’s Biggest Producer
On Writing: A Memoir of the Craft by Stephen King
