Mimi Bock has come to LPL to help them deepen their focus on bringing independent advisor firms to their traditionally broker-driven platform.
Bock used to run Morgan Stanley's southeast region and was at Bear Stearns before that.
This is not just another executive move. By installing Bock as head of the independent advisor services unit, LPL is announcing that it wants to be yet another in the growing list of firms that cater to RIA clients.
It's not just a world dominated by Fidelity, Schwab, Pershing, and TDA -- and a crowd of specialized vendors -- any more.
Raymond James and other broker-dealers are getting into the act. The question is whether LPL's famous self-clearing platform will help it or hurt it when going after RIAs who are used to working with broader vendors.