The $8.2 billion Alliant Credit Union retirement and investment program has been added to LPL Financial’s Institution Services platform.
With primary office in Boston, Charlotte, N.C., and San Diego, LPL Financial’s institution services provides third-party brokerage, wealth management and trust services to the investment programs of banks and credit unions, according to the company.
Laura Wallace, vice president of branches and retirement and investment services at Alliant, said the credit union was looking for a partner with the scale and resources to help it grow its business at a national level.
“We expect to gain valuable new efficiencies through LPL Financial's technological platform and to benefit from the vast amount of resources available through their dedicated support of the institutional channel,” Wallace said.
Alliant is also looking to tap into the LPL Financial network of financial institutions in order to gain greater access to industry-wide best practices and business networking opportunities, Wallace added.
LPL Financial said it serves more than 685 banks and credit unions with brokerage, trust and wealth management services.
Originally established as the credit union for United Airlines’ employees, Alliant serves more than 270,000 members. Its investment program has nine financial advisers.