Wintrust Completes Majority of $16B Onboarding to LPL Financial
LPL Financial LLC, a subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA), announced that Wintrust Financial Corporation (Nasdaq: WTFC) has transitioned support of the wealth management business of Wintrust Investments and certain private client business at Great Lakes Advisors to LPL Financial and its Institution Services platform.
The division of Wintrust being is comprised of approximately 90 advisers serving approximately $16 billion in assets.
“This strategic relationship with LPL Financial is a significant step forward for Wintrust and our mission to provide exceptional wealth management advice and superior service to our clients across the country,” said Tom Zidar, chairman and chief executive officer at Wintrust Wealth Management. “By leveraging LPL’s enhanced platform, we will deliver a more streamlined and personalized experience to our clients and a more intuitive, integrated experience for our advisers.”
“Wintrust’s advisers now have the capabilities, technology, and centralized support to differentiate their service offering and grow their practices,” said Christopher Cassidy, senior vice president, head of institution business development at LPL. “This strategic relationship reflects the value LPL brings to help financial institutions scale their wealth management businesses and deliver personalized experiences for their clients.”
According to past reporting by Alts Wire, LPL and Wintrust Financial Corporation signed an agreement in February 2024. On Jan. 25, 2025, about $15 billion of brokerage and advisory assets were onboarded to LPL. The remaining $1 billion of assets are expected to onboard over the next several months.
Wintrust is a financial holding company with approximately $64.9 billion in assets whose common stock is traded on the NASDAQ Global Select Market. It operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges.
LPL Financial Holdings Inc. supports more than 28,000 financial advisers and the wealth management practices of 1,200 financial institutions. Headquartered in San Diego, its total advisory and brokerage assets totaled approximately $1.8 trillion as of Dec. 19, 2024.
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