Nearly a year after LPL Financial LLC filed for an initialpublic stock offering, the company that counts more than 200 creditunions among its clients is consolidating one of itssubsidiaries.

The broker-dealer said it will consolidate UVEST FinancialServices Group Inc. onto its self-clearing platform. Credit unionand bank investment programs currently with UVEST will remain partof the existing LPL Financial Institution Services division. Theconsolidation is scheduled to start in June and be completed byyear-end.

LPL Financial said the move will be better positioned to makegreater investments in technology, research, practice management,and back-office support in addition to creating operationalefficiencies.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.