Greg Cornick is now president of Advice and Wealth Management at Advisor Group.
The Advisor Group of independent broker-dealers, which completed its purchase of the Ladenburg Thalmann in mid-February, says it has hired a former executive from LPL Financial and made a series of other leadership shifts.
Gregory Cornick is now Advisor Group's president of Advice and Wealth Management. He was with LPL for the past six years and served as executive vice president, treasurer and head of Corporate Development and Advisor Financial Solutions.
The move could support one of Advisor Group's possible branding strategies: positioning itself as "the LPL alternative," a term recruiter Jon Henschen said was being discussed at Advisor Group after it announced its big deal with Ladenburg in November.
(LPL is self-clearing, while Advisor Group and Ladenburg firms are dual clearing.)
But Jamie Price, president and CEO of Advisor Group, insists the role being assumed by Cornick was "on the docket" prior to the Ladenburg deal.
"We want to continue to forge the senior leadership team to drive our growth strategy …, and that's not defined by LPL or anything but Greg's capabilities," Price said in an interview, adding that the firm wants to "carve out its own horse race."
