As expected, the retail brokerage and advisory business of People’s United Bank, which was acquired by M&T Bank earlier this year, has joined LPL Financial’s bank platform. M&T’s bank brokerage unit began using LPL’s platform in June 2021.
The folding in of the People’s United business, which was handled by that bank’s broker-dealer subsidiary, included roughly $2.4 billion of brokerage assets and $200 million in advisory assets. The bank's remaining $1.8 billion of assets are expected to onboard over the next several months, LPL said in a release.
The combined People’s United and M&T brokerage and advisory business comprises about 40 advisers overseeing about $5 billion in assets.
Raymond James, UBS and Prime Capital Financial also announced additions as advisor recruiting stays brisk across wirehouse and independent channels
A new platform turns disputed facts into tradable markets, flipping the prediction market model on its head.
The financial advice industry has been facing inquiries into its cash sweep programs for years now.
Investor money allegedly went to strip clubs, exotic cars, and landscaping
Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
