After only a month at LPL’s Retirement Partners Group, Paul Mahan returned to Commonwealth, where he was head of their retirement efforts. Mahan will resume the role he held before departing to LPL in May. At the time, the move by Mahan, who is highly respected in the retirement market, was seen as a blow to Commonwealth’s retirement division and a coup for LPL.
Mahan joined Commonwealth in 2010 after a successful career working for DC providers, culminating as the head of Pioneer’s DCIO division. Though much smaller than LPL at about 1,500 reps, Commonwealth’s average revenue per rep is almost double their San Diego-based rival.
There are rumors about other personnel changes at LPL’s RPG after the deal to buy NRP closed late last year, which may have led to Mahan’s early and dramatic exit. Recent departures at LPL include Derek Burton, who held a senior sales position, and their head of marketing. Are there more to come?
