LPL Financial Holdings announced an agreement to transition support of the wealth management business of Wintrust Investments and certain private client business at Great Lakes Advisors, and their approximately 85 advisers and approximately $16 billion of brokerage and advisory assets to the LPL Institution Services platform.
“We believe LPL is the right partner to help us take our business to the next level. LPL’s integrated adviser platform and ongoing investment in technology will enable our advisers and portfolio managers to do even more for our clients,” said Tom Zidar, chairman and CEO at Wintrust Wealth Management.
Wintrust Investments is a broker-dealer and registered investment adviser (RIA) with $13 billion of brokerage and advisory assets that are expected to transfer to the LPL platform. Great Lakes Advisors is an RIA with $17 billion in total advisory assets; $3 billion of its private client advisory assets are expected to transfer custody to the LPL