(Financial Advisor) - LPL Financial has lost its chief market strategist, Ryan Detrick.
Detrick announced his departure in a LinkedIn post last week, noting that LPL’s research team is becoming more “institutional." The transition “is the right move for LPL, but doesn’t fit my brand,” he wrote.
Detrick, who joined the firm more than six years ago, did not specify where he is going.
“If you've ever seen me present, dress up silly for a video, or tell a stupid joke on my podcast, I'm just not meant to be institutional,” he wrote.
“They've hired some great employees lately that fit this direction and I can't wait to see the department continue to grow. I'll be cheering for them (plus I own some shares so they better keep growing!),” he wrote in the post.
Detrick laid out his career highlights at LPL in his LinkedIn post. He cited managing “more than $70 billion in AUM, along with all the incredible amount of research and writing we do to help our advisors,” and noted that the research team had shriveled from 50 people to 20 during his time with LPL.
He also touted LPL’s podcast, Market Signals, which has reached nearly one million downloads over four years.
Detrick also thanked several of his colleagues including Burt White, who recruited him. White served as LPL’s chief investment officer and its managing director of investor and investment solutions before retiring from the firm in March. White joined Carson Group as chief strategy officer in April.
Among the others Detrick thanked are Jeff Buchbinder, equity strategist at LPL Financial, and portfolio manager and asset allocation strategist Barry Gilbert, whom together he referred to as “the glue” of the research team.
LPL did not respond to emails and several attempts to reach the firm by phone were unsuccessful.
LPL administered $1.16 trillion in client assets as of the end of March, and worked with more than 20,000 advisors.
By Sam Del Rowe
July 6, 2022
