LPL Hires Wells Fargo Wealth Exec as Chief Compliance Officer

LPL Financial has hired Jim McHale, the former head of compliance for Wells Fargo’s wealth and investment management division, as the firm’s new chief compliance officer.

McHale had been with Wells Fargo since 2014, prior to which he led global brokerage compliance efforts for E-Trade and served as a staff member in the Division of Trading and Markets at the U.S. Securities and Exchange Commission.

In the new role at LPL, McHale reports to chief risk officer Brent Simonich, and he will lead LPL’s internal compliance organization as the firm navigates a fast-evolving regulatory environment and an increasingly competitive wealth management industry.

In a statement announcing the hiring, Simonich cites McHale’s “strong record for building effective and efficient risk management routines and governance,” adding that his experience in the industry and understanding of the compliance landscape “positions our team well to help advisors protect their practices and enable their growth.”