LPL Financial Announces Appointment of Dan Allen as President of the Private Trust Company

SAN DIEGO – June 18, 2024 – LPL Financial LLC today announced that Dan Allen has been promoted to President of The Private Trust Company (PTC), a national trust bank and affiliate of LPL. In this expanded role, Allen is tasked with scaling LPL’s trust offering to help meet the growing demand from advisors and their clients for comprehensive legacy planning. He reports to Kate Shackleton, Executive Vice President, Trust and Insurance.

Allen joined PTC as Chief Operating Officer in 2023 and has since played a pivotal role in leading the bank’s operational risk functions and strategic initiatives. His immediate impact and nearly two decades of industry experience have positioned him as a key leader within the organization.

“At a time when many financial advisors are helping their clients transition assets and define their legacies, Dan has demonstrated the business acumen necessary to advance our trust services business to better meet clients’ needs," Shackleton commented. "We are confident that under his skillful leadership, the group will continue to thrive.”

“Advisors are clamoring for services to assist high-net-worth clients with legacy planning,” added Allen. “I am committed to evolving and advancing our trust business to continue providing top-tier independent advice that supports clients in designing a lasting impact."

Before joining PTC, Allen led teams at several prominent national financial institutions, including Wells Fargo, Union Bank and U.S. Bank, and practiced estate planning and estate administration law. He holds a Bachelor of Arts in International Studies from Loyola University of Chicago and a Juris Doctor from Suffolk University Law School.

In 2023, PTC introduced a new service – Estate Settlement – to address the intricate needs that arise following the passing of a loved one. This service includes navigating probate, partnering with auction houses for the sale of valuables and managing the sale of family homes. It has already generated significant interest among advisors and the families they serve.

PTC now serves as trustee for approximately 1,600 families, focusing on aiding advisors and their clients as they transition generational wealth. Headquartered in Ohio, PTC has the capability as a national trust bank to serve clients across all 50 states, aligning well with the diverse geographic footprint of the LPL advisor community.

PTC is dedicated to the administration of trusts and other family wealth arrangements, such as family offices, businesses and foundations. With over $2 billion in assets under administration, PTC is recognized as a trusted partner in wealth management and legacy planning. It has been named one of “America’s Most Advisor-Friendly Trust Companies” for twelve consecutive years.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 23,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional.

At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

 The Private Trust Company, N.A. and LPL Financial are separate entities.

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