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Christopher Cassidy

Vice President, Financial Institution Enterprise Business Development at LPL Financial

Christopher Cassidy is currently the Senior Vice President of Financial Institutions at LPL Financial, not the Vice President of Large Financial Institution Business Development as mentioned in the query.1 He has extensive experience in the financial services industry, spanning nearly two decades.1

Cassidy joined LPL Financial in November 2020 and is based in the Charlotte Metro area.1 In his role, he works with financial institutions to optimize their wealth management businesses and create value for their clients.1

Prior to joining LPL, Cassidy held several notable positions:

  1. Managing Director at GreenState Credit Union (2019-2020)
  2. Senior Vice President - Regional Private Banking Manager at Wells Fargo Private Bank (2016-2019)
  3. Managing Director - Private Wealth Management at SunTrust (2013-2016)
  4. Vice President - Private Banking Manager at Merrill Lynch (2011-2013)
  5. Vice President - Private Banker at Wells Fargo Private Bank (2004-2011)

Cassidy holds a Bachelor of Arts in Economics from California State University, Fullerton.1 He also possesses several financial industry certifications, including Series 7, Series 66, and Series 24 licenses.1

He resides in Fort Mill, South Carolina, with his wife Simone and sons Maxwell and Marshall.1

Highlights

Apr 12 · linkedin

I'm excited to share how our comprehensive platform can elevate your firm's wealth management business and help you stay competitive in the market. With cutting-edge tools, compliance expertise, access to specialized talent, and advanced technology, we have everything you need to succeed. Learn more below! #wealthmanagement #LPLFinancial

Feb 23 · linkedin

Now is the time - capitalize on an economic environment that has many taking a wait and see approach.

Not too hot, not too cold, quite a few firms are pulling back: staffing, capability investment, M&A, etc. Price / value discovery will continue over perhaps the next year. Those with the foresight and intuition to choose the right path now, will see incremental value over those that wait until the appropriate choices are clear.

An increasingly accretive path is to take advantage of opportunity while alleviating some of risk through partnerships. Align with an operator who has a core competency where you have an adjacency:

Examples: • Financial institution has a strong capacity to originate lending solutions, but could benefit from additional deposit capacity. Webster Bank acquires Interlink platform to create a new funding source.

• Financial institution has an exceptional ability to orginate lending in a specific geography or niche market, so much so they end up with a concentration. Organizations such as PenFed Credit Union partner with LoanStreet Inc. to diversify their balance sheets.

• Financial institution has wonderful wealth talent, great leadership, and strong ability to penetrate its client base; however capacity to invest in platform is limited given capital allocations are diversified across business units. M&T Bank, BMO, Zions Bancorporation, Cadence Bank, Old National Bank, SouthState Bank, New York Community Bank (NYCB),Commerce Bank, Webster Bank and ~1100 other top tier banks and credit unions partner with LPL Financial creating access to $350M+ in annual new capabilities.

The list goes on and on - technology, legal, vendor risk management, cyber, compliance, etc.

A great perspective by EY below nails the concept: focus on your differentiation and the items that give you a “right to win” and partner for the rest.

https://lnkd.in/gwSkvyf2

Related Questions

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Christopher Cassidy
Christopher Cassidy, photo 1
Christopher Cassidy, photo 2
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Location

Charlotte Metro