VP, Wealth Management Alternative Investments Attorney

LPL Financial•Fort Mill, SC

4d•$168,611 - $281,087

About The Position

LPL Financial seeks an experienced attorney to join its corporate legal advice team as Vice President, Assistant General Counsel. This VP will report to a Senior Vice President and be part of team responsible for providing strategic legal advice with respect to the onboarding, due diligence, sales and ongoing controls related to Alternative Investments, Complex Products and Digital Assets. The team focuses primarily on LPL’s broker-dealer business but also provides support to the investment advisory business. This position entails partnering with the following teams at LPL (1) Alternative Investment Product (2) Compliance; (3) Supervision and Surveillance; (4) Product Due Diligence, Onboarding and Research; and (5) Risk Management. The position will focus on counseling the firm’s Product Review group with respect to due diligence requirements, sales practices and controls around alternative investments, complex products and digital assets. The ideal candidate is one who can thrive in a fast-paced business environment and can manage a substantial docket autonomously. A qualified candidate will have relevant experience within a law firm, counseling the financial services industry, specifically the broker-dealer and retail investment advisory business with respect to federal, state and SRO regulatory compliance, enforcement defense, and/or agency or private civil litigation/arbitration defense.

Requirements

6+ years experience in dealing with issues arising under the Securities Exchange Act, Investment Advisers Act of 1940, Investment Company Act of 1940, FINRA rules and regulations as well as related federal and state securities laws, with a focus on sales of complex products, alternative investments and digital assets
Proficiency in legal writing, performing legal research (LexisNexis preferred) and written communication skills
Working knowledge of federal securities laws and rules making process; regulatory notices; interpretive guidance; and agency interpretations
Working understanding of alternative investments, including but not limited to, hedge funds, VC funds, private equity funds, public non-traded products, business development corporations, private credit and other private placements
Understanding of regulatory landscape applicable to broker-dealers and registered investment advisers, including a familiarity with regulatory processes (SEC and FINRA).
Responsibility for a range of work with a particular focus on advising on the regulation, establishment, management, governance and marketing of private funds which invest in securities in both private and public markets (equity and debt as well as other asset classes such as credit, real estate, infrastructure and impact investing)
Interest or experience in artificial intelligence utilization
Ability to interface effectively with internal personnel as well as LPL financial advisors and institutional clients and their counsel
Ability to understand and assess a wide variety of complex business models
Highly-motivated self-starter able to work independently while collaborating and coordinating as part of a global program
Analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment
Written and verbal communications skills, attention to detail, and effective time management
Sound judgment and an ability to appropriately escalate issues internally
Proven ability to handle highly confidential information professionally and with appropriate discretion
Interpersonal skills and team-player attitude

Responsibilities

Day-to-day legal support for LPL’s alternative investments platform, including providing legal analysis and advice with respect to compliance with applicable rules, regulations and legal risks relating to the brokerage and investment advisory business
Draft, review and revise agreements with alternative investment sponsors for the onboarding of products onto LPL’s alternative investments platform
Counseling on due diligence standards and establishing proper protocols for the onboarding and sale of alternative investments and complex products
Reviewing, revising and developing internal policies and procedures in response to business initiatives and regulatory developments
Performing legal research and drafting memorandums concerning compliance with applicable laws, rules and regulations
Interacting with other members of the Legal Department as well as other LPL units mentioned above.