LPL Financial Holdings Inc. announced that Somesh Khanna has been elected as an independent director on its board, effective January 2026. Khanna, who brings over 30 years of leadership experience in consulting and financial services, currently serves as a senior advisor at McKinsey & Company and executive co-chair of Apexon. During his tenure at McKinsey since 1998, he co-led the global banking and securities practice, headed McKinsey Digital for financial services, and served as managing partner of the New York office. He also sits on the boards of KeyCorp and Persado and previously served as CEO of eCredit’s digital trade receivables securitization business in partnership with J.P. Morgan. Jim Putnam, chair of LPL’s board, highlighted Khanna’s expertise in digital transformation, AI and data-driven strategic planning as key to supporting the firm’s growth trajectory.

KraneShares’ Hedgeye Hedged Equity Index ETF was added to LPL Financial’s No-Transaction-Fee platform, extending commission-free access to more than 22,000 financial advisors and their clients. LPL, the largest independent broker-dealer in the U.S., now offers a curated lineup of 16 KraneShares ETFs covering emerging technologies, carbon markets, China-focused strategies and income solutions. Since joining the NTF platform in January 2025, KraneShares products have seen robust advisor uptake, with LPL custodial and advisory assets totaling approximately $2.3 trillion across 32,000 advisors and 1,100 institutions. The inclusion of this hedged equity ETF reinforces LPL’s commitment to cost-efficient, diversified solutions that help advisors manage downside risk while pursuing upside participation.

Spencer W. Rand, CFP® and Michael J. Williams, CFP® of Rand, Williams & Associates, LLC have joined LPL Financial’s broker-dealer and RIA platforms, bringing approximately $260 million in advisory, brokerage and retirement plan assets. Based in Monterey, California, the team has served educators, non-profits and airline industry professionals for four decades and manages multi-generational wealth for high-net-worth clients. The advisors cited LPL’s scalable technology, streamlined processes and robust compliance infrastructure as decisive factors in their move from Osaic. LPL supports their goal of deepening client relationships and reallocating time from administrative tasks toward financial planning and portfolio strategy.