LPL Financial Adds Alliant Credit Union Retirement and Investment Services to
its Institution Services Platform
-- LPL Financial Institution Services to Provide Comprehensive Brokerage,
Wealth Management and Trust Services to Nation's Sixth-Largest Credit Union -
SAN DIEGO and CHICAGO, Nov. 19, 2012
SAN DIEGO and CHICAGO, Nov. 19, 2012 /PRNewswire/ --LPL Financial, a wholly
owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today
announced that it has added Alliant Credit Union to its Institution Services
platform. LPL Financial's Institution Services unit is the leading provider
of comprehensive third-party brokerage, wealth management and trust services
to the investment programs of banks and credit unions throughout the nation.
Headquartered in Chicago, IL, Alliant Credit Union is the sixth-largest U.S.
credit union based on asset size, serving more than 270,000 members through
its online services and through 14 branches across the country. Founded in
1935, Alliant was originally established as the credit union for employees of
United Airlines and today serves a diversified range of clients from major
corporations to smaller enterprises and individuals, with $8.2 billion in
assets. Its investment program has a total of 9 financial advisors.
Laura Wallace, Vice President Branches and Retirement & Investment Services at
Alliant Credit Union, said, "We are enthusiastic about partnering with LPL
Financial, in order to bring our members the highest quality service in the
industry. The winning combination provided by LPL Financial of brokerage
services, wealth management and trust solutions will enable Alliant Credit
Union to significantly extend the range of services we offer our client
Wallace continued, "As a nationwide credit union, Alliant Credit Union was
looking for a partner with the scale and resources to help us grow our
business at a national level. We expect to gain valuable new efficiencies
through LPL Financial's technological platform and to benefit from the vast
amount of resources available through their dedicated support of the
institutional channel. Additionally, Alliant will be able to tap into the LPL
Financial network of financial institutions in order to gain greater access to
industry-wide best practices and business networking opportunities."
Andy Kalbaugh, Managing Director at LPL Financial Institution Services, said,
"We are delighted to welcome Alliant Credit Union to LPL Financial. LPL
Financial is an industry leader in helping banks and credit unions expand
their capabilities, discover new avenues for revenue growth and become more
profitable. We are especially pleased to offer our services to so prominent
and well-established an institution as Alliant Credit Union."
Mr. Kalbaugh further stated, "We also believe that 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."
In total, LPL Financial serves over 685 banks and credit unions with
brokerage, trust and wealth management services.
About Alliant Credit Union
Alliant Credit Union, founded in 1935, is a member-owned financial cooperative
that provides exclusive, lifetime benefits to employees and retirees of select
business affiliates, organizations and associations, and to their family
members and domestic partners. As the sixth-largest U.S. credit union based on
asset size, with $8.2 billion in assets, Alliant serves more than 270,000
members nationwide. Headquartered in Chicago, IL, Alliant Credit Union serves
its members through extensive online facilities and through 14 branches across
the country. Its investment services program has a total of 9 financial
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc.
(NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on
total revenues, Financial Planning magazine, June 1996-2012), a top RIA
custodian, and a leading independent consultant to retirement plans. LPL
Financial offers integrated technology, comprehensive clearing and compliance
services, practice management programs and training, and independent research
to over 13,100 financial advisors and approximately 685 financial
institutions. In addition, LPL Financial supports over 4,500 financial
advisors licensed with insurance companies by providing customized clearing,
advisory platforms and technology solutions. LPL Financial and its affiliates
have approximately 2,900 employees with primary offices in Boston, Charlotte,
and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory services offered through LPL Financial, a Registered
Investment Advisor. Member FINRA/SIPC. Insurance products offered through LPL
Financial or its licensed affiliates. The investment products sold through LPL
Financial are not insured Alliant Credit Union deposits and are not NCUA
insured. These products are not obligations of the Alliant Credit Union and
are not endorsed, recommended or guaranteed by Alliant Credit Union or any
government agency. The value of the investment may fluctuate, the return on
the investment is not guaranteed, and loss of principal is possible. LPL
Financial Representatives offer access to Trust Services through The Private
Trust Company N.A., an affiliate of LPL Financial.
LPL Financial is not affiliated with Alliant Credit Union.
This press release may contain forward-looking statements (regarding
management expectations, strategic objectives, business prospects, financial
results, and other similar matters) that involve risks and uncertainties. The
words "anticipates," "believes," "expects," "may," "plans," "predicts," "will"
and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words.
Forward-looking statements are not guarantees that future results, plans,
intentions or expectations expressed or implied by LPL Financial Holdings Inc.
or its affiliates will be achieved. Matters subject to forward-looking
statements involve known and unknown risks and uncertainties which may cause
actual results to be materially different than those expressed or implied by
forward-looking statements. Important factors that could cause or contribute
such differences include, but are not limited to, LPL Financial LLC's ability
to successfully transition the Alliant-affiliated business to its platform,
changes in general economic and financial market conditions, fluctuations in
the value of assets undercustody, effects of competition in the financial
services industry, changes in the number of our financial advisors and
institutions and their ability to effectively market financial products and
services, the effect of current, pending and future legislation, regulation
and regulatory actions, and the other factors set forth in Part I, "Item 1A.
Risk Factors" in LPL Financial Holdings Inc.'s 2011 Annual Report on Form
10-K, which is available on www.lpl.com and www.sec.gov.
LPL Financial Media Contacts
Chris Clemens / Matthew Griffes
Haven Tower Group LLC
(206) 420 1525 or (206) 402 5853
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SOURCE LPL Financial
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