LPL has appointed a new president, named an acting CFO and made two promotions.

LPL Financial, the independent broker-dealer and RIA custodian, has appointed its current chief financial officer, Dan Arnold, to president, succeeding Robert Moore, who is becoming chief executive at Legal & General Investment Management America.

The change is effective from March 13.

Meanwhile, Tom Lux has been named as acting CFO while LPL searches for a successor, and Andy Kalbaugh and Bill Morrissey have been promoted to the roles of divisional presidents of institution services and independent advisor services, respectively.

Kalbaugh and Morrissey will report to Arnold. These are new titles, LPL confirmed.

Prior to becoming CFO, Arnold served as managing director and head of strategy for the firm. He previously served as divisional president of LPL's Institution Services business, after 12 years of leading UVEST, a broker-dealer that was acquired by LPL in 2007.

Lux joined LPL in 2009, holding several positions in LPL's finance organization, including executive vice president and chief accounting officer. With 30 years of accounting experience, Lux has held leadership roles with National Financial Services, Wachovia Securities, Everen Securities and Deloitte and Touche.