M&T Bank Corp. will move the $20 billion retail portion of its M&T Securities subsidiary to LPL’s broker-dealer and registered investment advisory platforms.
The Buffalo, New York-based bank said that the transition will occur in the middle of 2021 and that its institutional securities business will be unaffected by the change.
After the transition, the retail business, which has about 170 advisers, will operate under a new, yet-to-be-announced brand name.
M&T's $20 billion in assets will make it the largest on LPL's platform. The bank said the need for more robust technology and infrastructure, as well as advanced financial planning tools and investment solutions, prompted its decision to move to an outside provider.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
