After a little less than two years with LPL Financial, Kabir Sethi, managing director and chief product officer, will leave the independent broker/dealer at the end of March, according to a public filing. The firm cited an “organizational realignment of certain business functions” for the departure.
"We do not have plans to replace the role as responsibilities have been realigned across different teams," said Kendra Galante, LPL spokeswoman. "We thank Kabir for his leadership and contributions to our organization. We have a talented and dedicated team in place, and we are confident in their ability to continue delivering on our mission to help advisors and institutions deliver great advice and run thriving businesses."
Sethi joined the firm in April 2022 after serving as head of digital for Merrill Lynch Wealth Management. He replaced Burt White, who joined Omaha, Neb.–based Carson Group as managing partner and chief strategy officer.
Prior to joining LPL, he spent 18 years with Merrill, the last six years of which he oversaw the rebuilding and reconstitution of the wealth management platform both for advisors and clients.
With his appointment, LPL had aligned its wealth management solutions group with a focus on its technology platform; Sethi was credited with a similar accomplishment at Merrill.