Executives at LPL Investment Holdings have had a big year, marked by a new innovative variable annuity platform, a surge in new advisors, and successful first-quarter earnings.

It might explain why the company’s shareholders voted, in a non-binding measure, to approve salaries and other compensation paid to Mark Casady, chairman and chief executive officer, and four of its other most highly paid executives for the fiscal year ended 2010.

Like other public U.S. companies, LPL put a “say-on-pay” vote to its investors during its annual shareholder meeting. LPL hosted the meeting in San Diego, on May 19, the company announced on Wednesday. It was the first since completed a $445 million initial public offering in November 2010. Shareholders also agreed to hold regular, non-binding votes on LPL’s executive compensation every three years.

During that meeting, the shareholders approved a $5.7 million package for Casady, which included an $800,000 salary, $2.2 million bonus and option awards of $2.6 million. Another $39,820 came Casady’s way, in the form of personal use of company-chartered aircraft, $7905 relating to automobile lease payments, and $868 in securities commissions, according to a Securities and Exchange Commission filing.

A package of $2.2 million went to William E. Dwyer, the managing director and president of national sales and marketing. Dwyer has one of the most visible, advisor-facing roles at the firm. His compensation came from a $491,667 salary, a $625,000 bonus, option awards totaling $1.1 million, and $10,799 in other compensation. Dan Arnold, the managing director and divisional president of financial institution services, took in a total $2.3 million. Arnold earned a $400,000 salary, a $400,000 bonus, according to the SEC statement. The rest of the compensation included $455,822 related to a forgiven loan after he became an executive officer at the company.

In early February, LPL Financial launched a fee-based variable annuity platform for advisors. The company’s advisors will be able to manage the products on a fee-based relationship and on a discretionary basis. It will enable advisors to offer active portfolio management with the protection of an annuity, plus a streamlined pricing structure.

In the first-quarter, LPL Investment Holdings posted strong earnings, a result of strong sales growth from advisors and greater investor participation in the markets.

Robert Moore, LPL’s chief financial officer, earned $3.6 million in total compensation, $600,000 of which was his salary. The compensation also included a $1.2 million bonus, $1.6 million in option awards, and $28,527 in other compensation.

Esther Stearns, the firm’s president and chief operating officer, received $3.4 million in total compensation, comprised of a $625,000 salary, $1.1 million bonus, $1.6 million in options and $12,740 in other compensation.

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