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AVP, Associate Counsel

Job ID: R-023975 Date posted: 08/03/2022 Primary Location SC-Fort Mill Other Locations CA-Remote

As an attorney, what inspires you? 

Do you feel empowered knowing that your work helps to protect the financial futures of every day Americans?  Have you felt like your current employer wants to pigeon-hole you into specialization, when you want to learn and provide advice on a broad array of issues? Do you want to provide dynamic, risk-based legal advice in a successful and growing company?   Do you want an in-house position with a results-oriented company, competitive pay, benefits, and opportunity for growth? 

Excited to learn more? If so, then this could be the role for you! 

LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

Job Overview:

The Legal Department at LPL Financial is looking for an engaged and keen-minded attorney to support our cash management and banking service offerings.  This attorney will provide advice on banking and investment regulations and will negotiate various types of commercial agreements with financial institutions who provide deposit and other services to and for the firm.  The role, Assistant Vice President, Associate Counsel, will work with an experienced team of lawyers to provide pragmatic legal advice and thought leadership on this critical part of our business.  This is a new role within the Legal department, evidencing the strategic importance of this function to our firm. In partnership with the Vice President, Associate General Counsel (to whom this role reports), this attorney will be responsible for delivering a high level of work product in time sensitive situations. 

Responsibilities:

  • Advising several business units, notably including our Treasury and Product teams, on a variety of legal and regulatory issues, including cash management and cash sweeps (Rule 15c-3), non-sweep third party banking relationships for LPL and its customers

  • Drafting, negotiating and closing a high volume and a wide variety of complex agreements with banks and others, ensuring that all contracting processes are adhered to and the firm’s contracting standards are maintained, including but not limiting to those relating to risk allocation

  • Working with our business partners to help create and implement new products and programs for use with end investors – this requires a product mindset and an ability to think about the big picture as we focus on experimentation and feedback-based program adjustments

  • Effectively and proactively providing sound advice on SRO and federal and state securities, banking and insurance laws

  • Supporting the Legal team’s effort to consistently review and improve policies and process to make what we do efficient and repeatable.

Please note: Additional responsibilities or duties may be assigned to you as needed or determined.

What are we looking for?

We want strong collaborators who can deliver a world-class client experience. We are looking for people who thrive in a fast-paced environment, are client focused, team oriented, and are able to execute in a way that encourages creativity and continuous improvement

Requirements:

  • JD from a nationally accredited law school; admitted to practice law, and in good standing, in at least one jurisdiction in the U.S.

  • 3-7 years of significant experience drafting and negotiating commercial contracts.

  • Experience at a law firm or company in the financial services industry. Ideal candidate has worked with FINRA rules, Investment Advisers Act, Securities Act of 1934 and federal banking laws and regulations.

  • Strong organizational and project management skills, including the ability to handle multiple projects and manage deadlines in a fast-paced and demanding work environment

  • Excellent written and oral communication skills

#LI-KW

Why LPL? 

At LPL, we believe that objective financial guidance is a fundamental need for everyone. As the nation’s leading independent broker-dealer, we offer an integrated platform of proprietary technology, brokerage, and investment advisor services. We provide you with a work environment that encourages your creativity and growth, a leadership team that is supportive and responsive, and the opportunity to create a career that has no limits, only amazing potential.

We are one team on one mission. We take care of our advisors, so they can take care of their clients.

Because our company is not too big and not too small, you can seize the opportunity to make a real impact. We are committed to supporting workplace equality, and we embrace the different perspectives and backgrounds of our employees.We also care for our communities, and we encourage our employees to do the same. This creates an environment in which you can do your best work.

Want to hear from our employees on what it’s like to work at LPL?  Watch this!

We take social responsibility seriously. Learn more here

Want to see info on our benefits?  Learn more here

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (800) 877-7210.

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