LPL Financial Announces Strategic Relationship with First Horizon Bank
LPL Financial (LPLA) has announced a strategic partnership with First Horizon Bank to enhance their wealth management capabilities. First Horizon Advisors, consisting of approximately 110 financial advisors managing about $16 billion in client assets across 12 states, will transition their broker-dealer and investment advisory services to LPL's Institution Services platform.
The transition is scheduled for completion in the second half of 2025, pending regulatory approval. This strategic move aims to expand First Horizon's service offerings while allowing them to focus on growth and client experience. Financial advisors will maintain their direct client relationships while implementing investment strategies through LPL's platform.
LPL Financial (LPLA) ha annunciato una partnership strategica con First Horizon Bank per migliorare le loro capacità di gestione patrimoniale. First Horizon Advisors, composto da circa 110 consulenti finanziari che gestiscono circa 16 miliardi di dollari in attivi dei clienti in 12 stati, trasferirà i propri servizi di broker-dealer e consulenza agli investimenti sulla piattaforma di Servizi Istituzionali di LPL.
La transizione è prevista per essere completata nella seconda metà del 2025, in attesa dell'approvazione normativa. Questa mossa strategica mira ad ampliare l'offerta di servizi di First Horizon, consentendo loro di concentrarsi sulla crescita e sull'esperienza del cliente. I consulenti finanziari manterranno le loro relazioni dirette con i clienti mentre implementano strategie di investimento attraverso la piattaforma di LPL.
LPL Financial (LPLA) ha anunciado una asociación estratégica con First Horizon Bank para mejorar sus capacidades de gestión de patrimonio. First Horizon Advisors, compuesto por aproximadamente 110 asesores financieros que gestionan alrededor de 16 mil millones de dólares en activos de clientes en 12 estados, trasladará sus servicios de corretaje y asesoría de inversiones a la plataforma de Servicios Institucionales de LPL.
Se prevé que la transición se complete en la segunda mitad de 2025, pendiente de la aprobación regulatoria. Este movimiento estratégico tiene como objetivo ampliar la oferta de servicios de First Horizon, permitiéndoles centrarse en el crecimiento y la experiencia del cliente. Los asesores financieros mantendrán sus relaciones directas con los clientes mientras implementan estrategias de inversión a través de la plataforma de LPL.
LPL Financial (LPLA)는 First Horizon Bank와 전략적 파트너십을 체결하여 자산 관리 능력을 강화한다고 발표했습니다. First Horizon Advisors는 약 110명의 재무 상담사로 구성되어 있으며, 12개 주에서 약 160억 달러의 고객 자산을 관리하고 있습니다. 이들은 LPL의 기관 서비스 플랫폼으로 브로커-딜러 및 투자 자문 서비스를 전환할 예정입니다.
전환은 2025년 하반기에 완료될 예정이며, 규제 승인을 기다리고 있습니다. 이 전략적 조치는 First Horizon의 서비스 제공을 확대하고, 성장과 고객 경험에 집중할 수 있도록 하는 것을 목표로 하고 있습니다. 재무 상담사들은 LPL의 플랫폼을 통해 투자 전략을 실행하는 동안 고객과의 직접적인 관계를 유지할 것입니다.
LPL Financial (LPLA) a annoncé un partenariat stratégique avec First Horizon Bank pour améliorer ses capacités de gestion de patrimoine. First Horizon Advisors, composé d'environ 110 conseillers financiers gérant environ 16 milliards de dollars d'actifs clients dans 12 États, transférera ses services de courtage et de conseil en investissement vers la plateforme de Services Institutionnels de LPL.
La transition est prévue pour être finalisée dans la deuxième moitié de 2025, sous réserve de l'approbation réglementaire. Ce mouvement stratégique vise à élargir l'offre de services de First Horizon tout en leur permettant de se concentrer sur la croissance et l'expérience client. Les conseillers financiers maintiendront leurs relations directes avec les clients tout en mettant en œuvre des stratégies d'investissement via la plateforme de LPL.
LPL Financial (LPLA) hat eine strategische Partnerschaft mit First Horizon Bank angekündigt, um ihre Vermögensverwaltungsfähigkeiten zu verbessern. First Horizon Advisors, bestehend aus etwa 110 Finanzberatern, die rund 16 Milliarden Dollar an Kundenvermögen in 12 Bundesstaaten verwalten, werden ihre Broker-Dealer- und Anlageberatungsdienste auf die Institutionen-Dienstleistungsplattform von LPL umstellen.
Der Übergang soll in der zweiten Hälfte von 2025 abgeschlossen sein, vorbehaltlich der regulatorischen Genehmigung. Dieser strategische Schritt zielt darauf ab, das Dienstleistungsangebot von First Horizon zu erweitern und ihnen zu ermöglichen, sich auf Wachstum und Kundenerfahrung zu konzentrieren. Die Finanzberater werden ihre direkten Kundenbeziehungen aufrechterhalten, während sie Anlagestrategien über die Plattform von LPL umsetzen.
- Strategic acquisition of $16 billion in client assets
- Addition of 110 financial advisors to LPL's platform
- Expansion of geographical presence across 12 states
- None.
Insights
LPL Financial's agreement with First Horizon Bank represents a significant asset acquisition opportunity with approximately 110 financial advisors and
The scale of this arrangement is noteworthy -
For First Horizon, outsourcing broker-dealer functions likely reduces regulatory complexity and technology infrastructure costs while potentially enhancing their wealth management capabilities through LPL's more robust platform. The arrangement preserves the crucial client-advisor relationships within First Horizon's 12-state footprint while changing only the back-end support structure.
The extended timeline (completion expected in second half of 2025) indicates a measured implementation approach designed to ensure minimal disruption to client relationships and advisor retention - critical factors for realizing the full economic value of such transitions. While exact financial terms aren't disclosed, these institutional arrangements typically enhance margins and operational efficiency for both parties involved.
SAN DIEGO, April 07, 2025 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) today announced an agreement with First Horizon Bank, the banking subsidiary of First Horizon Corporation (NYSE: FHN), to expand their wealth management capabilities and solutions by transitioning support of the broker-dealer and investment advisory services of First Horizon Advisors, Inc., to LPL and its Institution Services platform.
First Horizon Advisors, Inc., is a subsidiary of First Horizon Bank and consists of approximately 110 financial advisors who collectively serve approximately
“LPL’s industry-leading capabilities and operational support will allow us to expand our offering and concentrate our talent, resources and capital on driving continued growth and outstanding client experiences,” said Martin de Laureal, president at First Horizon Advisors, Inc. “This relationship will further empower our advisors to provide exceptional advice and distinguish themselves in the marketplace.”
“Through their community-minded commitment to excellence, First Horizon Advisors delivers well-respected and comprehensive financial advice to their clients,” said Christopher Cassidy, SVP, head of Institution Business Development at LPL Financial. “LPL will further enhance the competitive advantage of First Horizon Advisors by delivering seamless experiences and customized support while powering the future of advice through one unified vision.”
The transition is expected to be completed in the second half of 2025, subject to receipt of regulatory approval and other conditions.
About First Horizon
First Horizon Corporation (NYSE: FHN), with
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker dealer, member FINRA/SIPC. First Horizon Bank, First Horizon Corp., First Horizon Advisors, Inc., and LPL Financial are separate entities.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
*Estimated as of April 4, 2025
Forward-Looking Statements
Certain of the statements included in this release, such as those regarding the completion of the strategic relationship agreement; the expected transition of assets associated therewith; and the benefits anticipated therefrom, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on current expectations and beliefs concerning future developments and their potential effects upon First Horizon, LPL or both. In particular, no assurance can be provided that the assets reported as serviced by financial advisors affiliated with First Horizon will translate into assets serviced by LPL, that advisors affiliated with First Horizon will transition registration to LPL or that the benefits that are expected to accrue to First Horizon, LPL and First Horizon-affiliated advisors as a result of the strategic relationship agreement will materialize. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, and there are certain important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include: the failure of the parties to satisfy the closing conditions applicable to the strategic relationship agreement, including receiving regulatory approval, in a timely manner or at all; difficulties or delays in transitioning advisors affiliated with First Horizon, or in onboarding First Horizon’s clients and businesses or transitioning their assets from First Horizon’s current third-party custodian, to LPL; the inability of LPL to sustain revenue and earnings growth or to fully realize revenue or expense synergies or the other expected benefits of the transaction, which depend in part on LPL’s success in onboarding assets currently served by First Horizon’s advisors; disruptions to First Horizon’s or LPL’s businesses due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with financial advisors and clients, employees, other business partners or governmental entities; the inability of LPL or First Horizon to implement onboarding plans; the choice by clients of First Horizon-affiliated advisors not to open brokerage and/or advisory accounts at LPL; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; and the effects of competition in the financial services industry, including competitors’ success in recruiting First Horizon-affiliated advisors. Certain additional important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements can be found in the “Risk Factors” and “Special Note Regarding Forward-Looking Statements” section included in LPL’s most recent Annual Report on Form 10-K. Except as required by law, LPL does not undertake to update any particular forward-looking statement included in this document as a result of developments occurring after the date of this press release.
Contacts
LPL Media Relations
media.relations@lplfinancial.com
LPL Investor Relations
investor.relations@lplfinancial.com
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FAQ
How much in client assets will LPL Financial (LPLA) gain from the First Horizon Bank partnership?
When will LPLA complete the transition of First Horizon Advisors to its platform?
How many financial advisors will transition to LPL Financial's platform from First Horizon?
What geographical coverage does the First Horizon-LPLA partnership encompass?
