LPL Financial LLC, the nation’s largest independent broker-dealer, has added Third Oak Investment Services, the investment program offered at Baraboo State Bank, to its broker-dealer and corporate registered investment advisor platforms. Third Oak joins from Raymond James and serves approximately $200 million of client brokerage and advisory assets.
Based in Baraboo, Wisconsin, the team is comprised of four advisors, including Pete Welsh, senior vice president of trusts and investments, Lisa McClyman, Laura Stanek, and Jennifer Kinzler. Baraboo State Bank offers investment services at four of its eight locations.
“We have been a leading third-party investment services provider to banks and credit unions for over a decade and that is because we provide our financial institution partners technology and product platforms as well as the expertise to help them capitalize on the unique opportunities inherent in their organization,” said Craig Kamis, LPL’s executive vice president of institutional business development.
LPL Financial provides service to approximately $681 billion in brokerage and advisory assets as of the third quarter of 2018. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to more than 16,000 financial advisors and 700 financial institutions.