CLEVELAND, May 7, 2012 /PRNewswire/ -- LPL Financial LLC, the nation's largest independent broker-dealer* and a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), today announced that the directors of PTC Holdings, Inc. appointed Bethany J. Bryant as president of its subsidiary The Private Trust Company, N.A. ("PTC"), as of May 1, 2012. PTC was founded in 1995 and is licensed to provide trust services in all 50 states under its national banking charter. As a leading provider of trust administrative services for individual and family assets, PTC uses a unique open-architecture approach that delegates investment management to financial advisors, who are in turn able to offer personalized and sophisticated trustee services to high-net-worth clients for a variety of estate planning needs.
Ms. Bryant was one of three original founders of The Private Trust Company. Since that time she has served as CFO and operating officer for PTC, with responsibility for managing the firm's accounting, operations, compliance, and information technology functions along with managing some of the firm's largest client relationships. As part of a long-term succession plan first approved in 2009, Ms. Bryant succeeds Lawrence Hatch in the role of president.
Robert Moore, president, chief operating officer and CFO of LPL Financial, said, "Bethany has been an invaluable leader at The Private Trust Company for many years, and this recognition is well deserved. Given the increasing importance of the high-net-worth market for LPL Financial, we have high hopes for the future under the direction of Bethany and PTC's board of directors."
Heather Ettinger, managing partner of Fairport Asset Management and member of The Private Trust Company's board of directors, added, "For nearly two decades Bethany has provided the broadest possible spectrum of support for PTC, and has served the firm's clients with the highest degree of integrity and focus. The Board is very pleased to have her at the helm as we work to uphold this record of success and excellence. We would also like to recognize Larry's many contributions to the organization over the last 18 years, and we wish him the best in his future endeavors."
Prior to her time at PTC, Ms. Bryant began her career as an independent auditor with Ernst & Young LLP, specializing in audits of financial institutions. Ms. Bryant is a certified public accountant and a certified securities operations professional.
About The Private Trust Company
The Private Trust Company, N.A., (PTC), an affiliate of LPL Financial, is a leading provider of trust administrative services for individual and family assets. PTC uses a unique open-architecture approach that delegates investment management to financial advisors, who are in turn able to offer personalized and sophisticated trustee services to high-net-worth clients for a variety of estate planning needs.
Licensed in all 50 states under its 1995 national banking charter, PTC specializes solely in providing fiduciary services and does not engage in any lending or deposit taking. PTC is regulated and examined by the Office of the Comptroller of Currency, a division of the U.S. Treasury Department, and is a member of the Federal Reserve Bank. Accounts are insured and bonded to protect client assets and are reviewed by independent auditors. For more information, please visit www.theprivatetrustcompany.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities offered through LPL Financial. Member FINRA/SIPC
*Based on total revenues, Financial Planning magazine, June 1996-2011
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