Independent Financial Partners, a hybrid registered investment advisor that operates on LPL’s platform, hired a former McKinsey & Company director to be the chief financial officer of the broker/dealer it plans to launch in 2019.
Bill McCauley, who was most recently the director of finance for new ventures at McKinsey, was also previously the CFO for Transamerica Financial Advisors and MassMutual’s retail and wholesale b/ds. Independent Financial Partners CEO William Hamm said in a statement that McCauley will play a key role in the ownership structure, in which advisors who join the new b/d with be included.
“While we understand what starting a broker-dealer entails, having someone like Bill McCauley join the firm ensures that we have someone who knows how to interact with FINRA well,” Hamm said. “He has seen what a well-run broker-dealer looks like at a large scale and will bring that experience to IFP.”
Independent Financial Partners is independently owned, privately held and headquartered in Tampa, Fla. It services more than 500 advisors across the U.S. and manage more than $40 billion in client assets.
