LPL Financial is promoting one of its own. Bill Chetney is slated to become president of LPL Retirement Partners, where he currently serves as executive vice president.

The nation’s largest independent broker-dealer brought on Chetney in 2010 when it purchased parts of a company he founded, National Retirement Partners. Chetney was president and CEO of National at the time and oversaw its retirement-related services business, which worked with thousands of employers nationwide. The firm also served high-net-worth individuals.

The acquisition formed the basis of LPL’s newly formed retirement plan division.

“Bill has over three decades of experience in the retirement planning industry, working with both advisors and clients, making him the ideal person to position us for the next phase of growth in our retirement business,” Robert Moore, LPL’s president and Chetney's boss, said in a statement. “Under his leadership, LPL Retirement Partners is poised to become the industry leader in retirement planning.” Since joining, LPL said Chetney has established the division as a resource supporting more than 5,000 advisors with benefits and services.

“As the baby boomers enter retirement, we see a growing need for independent financial advice,” added Mark Casady, LPL’s chairman and CEO.

Since joining LPL, Chetney has recruited more than 400 advisors and grown the retirement plan asset base to more than $94 billion. His division also serves more than 32,000 retirement plans with about 3 million participants. LPL Retirement Partners also launched a service and education program for employers and their employees, delivered through affiliated advisors.

“With so many American workers unsure about how to achieve a secure retirement, we have a tremendous opportunity to support advisors who seek to offer a comprehensive approach to retirement saving, investing and spending,” Chetney said in the statement.

Read more: