Skip to content
The DI Wire
Click Here to Subscribe to Our Free Daily News Updates

Wintrust to Transition Pair of Wealth Management Businesses to LPL

Wintrust to Transition Pair of Wealth Management Businesses to LPL. Financial services, broker-dealer, registered independent adviser, RIA, LPL, Wintrust, Great Lakes Advisors

LPL Financial Holdings Inc. and Wintrust Financial Corporation announced an agreement to transition support of the wealth management business of Wintrust Investments LLC and certain private client business at Great Lakes Advisors LLC (collectively Wintrust), and their approximately 85 advisers and approximately $16 billion of brokerage and advisory assets to the LPL Institution Services platform.

The transition is expected to be completed in the first quarter of 2025.

Wintrust Investments LLC is a broker-dealer and registered investment adviser with $13 billion of brokerage and advisory assets that are expected to transfer to the LPL platform. Great Lakes Advisors LLC 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 platform.

“At Wintrust, our focus on outstanding client service has served our customers well and has resulted in a formidable wealth management operation,” said Tom Zidar, chairman and chief executive officer at Wintrust Wealth Management. “…LPL’s integrated adviser platform and ongoing investment in technology will enable our advisers and portfolio managers to do even more for our clients. We are excited about the strategic relationship with LPL and the growth opportunities ahead of us.”

“Wintrust advisers offer deep expertise and exceptional personal attention to their clients, and we are pleased to work with Great Lakes Advisors to make their investment strategies more broadly available to the full LPL adviser ecosystem,” said Christopher Cassidy, senior vice president and head of institution business development at LPL Financial. “Through this strategic relationship, LPL will enable Wintrust advisers to further differentiate their offerings, as they will have access to a cutting-edge platform that supports the changing needs of their clients and their businesses.

LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 RIA firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.35 trillion as of Dec. 31, 2023.

Click here to visit The DI Wire directory page.