On January 8, 2026, LPL Financial Holdings Inc. announced the election of Somesh Khanna to its board of directors as an independent director. Khanna brings over 30 years of leadership in consulting and financial services, having co-led McKinsey & Company’s global banking and securities practice and served as managing partner of its New York office. He currently advises McKinsey as a senior advisor, co-chairs AI and digital solutions firm Apexon, and sits on the boards of KeyCorp and Persado. LPL’s board chair, Jim Putnam, highlighted Khanna’s expertise in digital transformation, artificial intelligence and data-driven strategic planning as critical to supporting the firm’s growth initiatives and enhancing its technology platform for more than 32,000 financial advisors and 1,100 institution partners.

KraneShares’ Hedgeye Hedged Equity Index ETF (KSPY) has been included in LPL Financial’s No-Transaction-Fee (NTF) platform, which serves over 22,000 financial advisors and their clients. The ETF uses systematic option strategies driven by Hedgeye’s Risk Range™ signals, which have historically contained the S&P 500 within published daily ranges 83% of the time since 2015. The fund dynamically adjusts equity exposure between full participation and hedged positions based on model-generated entry and exit thresholds, enabling advisors to offer clients a downside mitigation tool without incurring transaction charges. This addition marks the 17th KraneShares product on LPL’s NTF lineup, spanning emerging technology, China themes, carbon credit markets and income solutions.

Financial advisors Spencer W. Rand, CFP® and Michael J. Williams, CFP® of Rand, Williams & Associates, LLC have transitioned approximately $260 million in managed advisory, brokerage and retirement plan assets to LPL Financial’s broker-dealer and RIA platforms. Operating from Monterey, California, the team serves educators, non-profits and high-net-worth families across multiple generations. They cited LPL’s technology investments, streamlined compliance processes and enhanced cybersecurity as key factors in their decision. With over 40 years of firm heritage and two decades of partnership between Rand and Williams, the move positions their practice to leverage LPL’s suite of fintech tools and support services, freeing them to spend more time on personalized client engagement.