---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-230215"
form_type: "8-K"
ticker: "LPLA"
cik: "0001397911"
company_name: "LPL Financial Holdings Inc."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:11:39.383194+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# LPL Financial CEO Dan Arnold terminated for cause; Rich Steinmeier named interim CEO

## Summary
- Board terminated Dan Arnold for cause effective Oct 1 after outside counsel investigation found code-of-conduct violations regarding statements to employees.
- Arnold receives no severance; his equity awards are forfeited except some vested options deferred pending a settlement agreement.
- Arnold resigned from the board; Rich Steinmeier, Chief Growth Officer, appointed Interim CEO immediately.
- Steinmeier previously held senior roles at UBS and Merrill Lynch; compensation unchanged from prior disclosure.

## SEC filing metadata
- accession: 0001193125-24-230215
- form_type: 8-K
- ticker: LPLA
- cik: 0001397911
- company_name: LPL Financial Holdings Inc.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397911/000119312524230215/0001193125-24-230215-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397911/000119312524230215/d844936d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-230215
- JSON: https://secwatch.observer/filing/0001193125-24-230215.json
- Plain text: https://secwatch.observer/filing/0001193125-24-230215.txt

## Key facts
- Executive change
  Dan H. Arnold resigned as Director at LPL Financial Holdings Inc..
  - Action: resigned
  - Role: Director
  source text: Additionally, on October 1, 2024, the Board accepted Mr. Arnold’s resignation from the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397911/000119312524230215/0001193125-24-230215-index.htm
- Executive change
  Dan H. Arnold was terminated as President and Chief Executive Officer at LPL Financial Holdings Inc..
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: On October 1, 2024, the Board of Directors (the “Board”) of LPL Financial Holdings Inc. (the “Company”) terminated Dan H. Arnold, President and Chief Executive Officer of the Company, in the course of an investigation conducted by outside counsel that determined that Mr. Arnold made statements to employees that violated the Company’s Code of Conduct.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397911/000119312524230215/0001193125-24-230215-index.htm
- Executive change
  Rich Steinmeier was appointed as Interim Chief Executive Officer at LPL Financial Holdings Inc..
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: The Company also announced that Rich Steinmeier, currently the Managing Director, Chief Growth Officer of LPL Financial LLC, a subsidiary of the Company (“LPL Financial”), has been appointed as the Company’s Interim Chief Executive Officer, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397911/000119312524230215/0001193125-24-230215-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.