Bank Watch

LPL Financial to move into Fort Mill headquarters in October

Mark Casady, CEO of Boston-based LPL Financial, left, and Gov. Nikki Haley attend the 2015 groundbreaking for LPL’s new campus in Fort Mill, S.C. On Monday, Casady told the Observer his company plans to move into the new campus, where LPL will relocate jobs in Charlotte, in October.
Mark Casady, CEO of Boston-based LPL Financial, left, and Gov. Nikki Haley attend the 2015 groundbreaking for LPL’s new campus in Fort Mill, S.C. On Monday, Casady told the Observer his company plans to move into the new campus, where LPL will relocate jobs in Charlotte, in October. dlaird@charlotteobserver.com

Boston-based LPL Financial is scheduling an October move-in for its new Charlotte-region headquarters in Fort Mill, S.C., chief executive Mark Casady says.

With the help of incentives from South Carolina, the firm in 2014 announced plans to relocate its headquarters from southwest Charlotte, where it employs about 1,500. In that announcement, LPL unveiled plans to eventually employ 3,000 at its new campus, where ground was broken early last year.

The 2014 announcement was part of a double blow to North Carolina, which learned the same day that health care consulting company Lash Group would consolidate Charlotte sites into Kingsley Park, the development that will also house LPL.

In an interview, Casady declined to say how much in incentives North Carolina offered him to keep the jobs in Charlotte, where LPL is spread across four buildings near Charlotte Douglas International Airport. South Carolina is giving LPL $2 million to help prepare its Fort Mill site, as well as future tax credits based on the number of employees it hires.

Incentives were one consideration for LPL, which was challenged to find sites in North Carolina that met the company’s costs and layout needs, Casady said.

LPL examined sites in southwest Charlotte, but some would have caused employees to be more spread out compared with the arrangement in Fort Mill, he said.

The Fort Mill campus also meets LPL’s desire for a site with minimal impact on the environment, Casady said, which can help with lowering the public company’s operating expenses. The Fort Mill site will have a system for capturing rainwater that will be reused in buildings on the campus, he said.

LPL provides services and technology to more than 14,000 independent financial advisers in the U.S. who do not work directly for the company but use its platforms in serving their own clients. LPL has 3,410 full-time employees, according to a securities filing last month.

LPL has primary offices in Boston, San Diego and Charlotte. San Diego, the largest hub, employs about 1,700.

Casady reiterated Monday that the Charlotte region, where LPL has had a presence since 2006, will see the vast majority of the company’s future growth.

“With the exception of some positions here or there that might be in Boston or San Diego,” said Casady, who lives in Boston, “our intention is to grow the (Fort Mill) office to be the largest office we have.”

Deon Roberts: 704-358-5248, @DeonERoberts

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