LPL Financial announced the election of Somesh Khanna to its board of directors as an independent director, effective January 8, 2026. Khanna brings over 30 years of leadership in consulting and financial services, having co-led McKinsey’s global banking and securities practice, overseen McKinsey Digital for financial services, and served as managing partner of the firm’s New York office. He currently advises at McKinsey & Company, co-chairs Apexon and sits on the boards of KeyCorp and Persado. LPL’s chair, Jim Putnam, highlighted Khanna’s expertise in digital transformation, artificial intelligence and data-driven strategic planning as key to advancing the firm’s innovation initiatives in support of its network of more than 32,000 financial advisors and 1,100 financial institutions.

KraneShares’ Hedgeye Hedged Equity Index ETF was added to LPL’s No-Transaction-Fee (NTF) platform, expanding access for over 22,000 LPL-affiliated advisors. The ETF leverages systematic option strategies tied to Hedgeye Risk Range™ signals, dynamically adjusting portfolio delta between full equity exposure and hedged positions based on S&P 500 range signals. Since its debut, the strategy has sought to participate in market gains while managing downside risk. This addition brings the total number of KraneShares ETFs on LPL’s NTF menu to 16, spanning China, emerging technologies, carbon markets, options income and fixed income solutions, reinforcing LPL’s commitment to offering cost-efficient, diversified investment tools.

Spencer W. Rand, CFP® and Michael J. Williams, CFP® of Rand, Williams & Associates, LLC transitioned to LPL Financial’s broker-dealer and RIA platform, bringing approximately $260 million in advisory, brokerage and retirement plan assets. Operating since 1982 on California’s Central Coast, the practice serves educators, non-profits and multi-generational high-net-worth clients. The team cited LPL’s focus on streamlined processes, advisor feedback-driven technology enhancements and robust compliance infrastructure as critical factors in their decision. Their move further bolsters LPL’s network, which now supports around 32,000 advisors and custody services representing roughly $2.3 trillion in client assets under management.