Profiles

LPL CEO Steinmeier nets $12m pay package

Andrew Foerch / Mar 27, 2025
Top LPL Financial executives Rich Steinmeier and Matt Audette earned their maximum potential pay packages for 2024.
Rich Steinmeier got his bonus.
The chief executive of the country’s largest independent broker-dealer, LPL Financial, has earned the maximum potential pay package that was approved by the company’s board of directors upon his appointment as CEO last fall.
A proxy statement filed Wednesday in conjunction with LPL’s 2025 annual meeting of stockholders disclosed that Steinmeier has received total annualized compensation of $12,031,805 for his work in 2024. On top of his annual salary of $900,000, that total includes a long-term equity incentive payment of $8.4m and a cash bonus of $2.7m, both of which were paid out to him in February.
Chief financial officer and president Matt Audette also earned his maximum compensation package, bringing in a total of $8m comprising a $750,000 salary plus a $1.9m cash bonus and roughly $5.4m in stock awards, per the filing.
The awards were previously laid out in a Form 8-K filed in conjunction with Steinmeier’s acceptance of the CEO role and Audette’s promotion...
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