LPL Financial Congratulates Bank and Credit Union Program Managers for Recognition in the 2014 Bank Investment Consultant Top 20 Program Managers List for 2014

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Six LPL Financial associated managers are honored in the Top 20 list.

LPL Financial LLC, the nation’s largest independent broker-dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc., today congratulated six of its LPL Financial Institution Services program managers for being ranked in the 2014 Bank Investment Consultant Top 20 Program Managers list.

Bank Investment Consultant (BIC) is a leading information source for financial advisors and program managers who work in banks and credit unions. It recently selected its list of the nation’s top program managers based upon five main factors, including average production per advisor, percentage growth of team assets from the previous year, percentage growth of team production from the previous year, the number of advisors under the manager’s direct supervision and the number of licensed branch employees under the supervision of the program manager.

For 2014, the BIC Top 20 list included the following program managers of bank and credit union investment programs affiliated with LPL Financial, who are listed below with their ranking:

  •     #4 – Chad Waddoups, Mountain America Credit Union, West Jordan, UT
  •     #5 – Beverly Gaines, Happy State Bank, Amarillo, TX
  •     #7 – Larry Orsini, First Niagara Investment Services, Buffalo, NY
  •     #9 – Britt Borders, Capital Bank, Raleigh, NC
  •     #12 – John Olerio, Webster Bank, Wallingford, CT
  •     #20 – Michael Zito, Trustmark National Bank, Jackson, MS

Additionally, the following managers of bank and credit union investment programs that are clients of LPL Financial were listed in the honorable mention category:

  •     Kenneth Ellspermann, Old National Bank, Evansville, IN
  •     Todd Shobert, Washington State Employees Credit Union, Olympia, WA
  •     Matt Snively, Eli Lily Federal Credit Union, Indianapolis, IN
  •     David Wick, Heartland Financial USA, Dubuque, IA

“We congratulate these distinguished program managers for their placement in the BIC Top 20 list,” said Andy Kalbaugh, managing director and head of Institution Services for LPL Financial. “They are among the very best in our industry and we are pleased they have been singled out for their outstanding results. At LPL Financial we are proud to be associated with them and to assist them by providing a high level of service to their financial institutions, to the wealth management advisors whom they supervise, and, most importantly, to their clients.”

The full 2014 BIC Top 20 Program Managers list can be found online at BIC Top 20 Program Managers.

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc., is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,700 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports approximately 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have more than 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit

Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.

Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured bank/credit union deposits and are not FDIC/NCUA insured. These products are not obligations of a bank/credit union and are not endorsed, recommended or guaranteed by a bank/credit union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

LPL Financial, BIC, and the banks and credit unions listed are separate entities.

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