The 25-adviser brokerage unit at what had been BancorpSouth Bank, which oversees about $2.5 billion in assets, is switching its affiliation to LPL Financial from Infinex, a broker-dealer owned by a consortium of banks.
In October 2021, BancorpSouth merged with Cadence Bank and its banking operation took the Cadence name. The brokerage operation of the pre-merger Cadence Bank had been affiliated with LPL.
The onboarding of the legacy BancorpSouth investment business is scheduled to take place before the end of the year, LPL said in a release.
In August, LPL announced that the retail brokerage and advisory business of People’s United Bank, which was acquired by M&T Bank earlier in the year, had joined LPL's bank platform with $2.6 billion in assets.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
New survey finds varied levels of loyalty to advisors by generation.
Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
