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.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
