LPL signs Alliant Credit Union, with its $8.2 billion in assets

Nov 25, 2012 @ 12:01 am

By Liz Skinner

LPL Financial LLC is providing members of the nation's sixth-largest credit union with brokerage, trust and wealth management services after signing up Alliant Credit Union, the 35th it has added to its platform this year.

Alliant, whose 270,000 members have $8.2 billion in assets, said that it chose LPL Financial Institution Services because it wants to offer members additional retirement and other financial services.

Alliant also wants to expand its advisory business.

“Our new partnership with Alliant reflects a larger industry trend as we have increasingly seen a migration of credit unions toward service providers whose more robust capabilities can translate into more opportunities for growth,” said Andy Kalbaugh, managing director of LPL Financial Institution Services.

The unit generates about 20% of LPL Financial's revenue, which totaled $3.34 billion last year, and has about 500 employees, he said.

LPL Financial, which serves more than 685 banks and credit unions, is the nation's largest independent broker-dealer, with 13,000 brokers.

lskinner@investmentnews.com Twitter: @skinnerliz

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

3 tips when hiring millennials

Advisers want to add young talent, but ask if they want to add millennials and most will begin to squirm. Hunter Hart, and Marc Schliefer of Equity Planning Inc. disspell some myths and misconceptions of hiring millennials.

Video Spotlight

The Search for Income

Sponsored by PGIM Investments

Recommended Video

Path to growth

Latest news & opinion

How does your advisory firm stack up?

Comparing a firm's pay to the competition can point out vast flaws.

10 signs your client is cheating on you

Sure signs that clients may be on the way out the door.

Morgan Stanley sees slower fee-based asset flows on fiduciary rule delay

Flows to advisory accounts, while still higher than the start of 2016, dropped off more than 20% from Q2 and were the lowest in a year.

How adviser salaries stack up to other jobs

Median compensation hovers just under $100,000 on the low end and reaches nearly $300,000 for bosses.

Finra ranking brokers in effort to crack down on industry's bad apples

All 634.403 reps have been ranked based on factors such as prior regulatory disclosures, disciplinary actions and employment history.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print