Mountain America Credit Union has been named LPL Financial’s 2011 investment program of the year beating out 750 financial institutions for the honor.
The $2.9 billion credit union in West Jordan, Utah was recognized for its advisor production, assets under management and advisory growth. As of the first quarter of 2011, LPL ranked Mountain America as its fifteenth highest producer overall and third among credit unions, according to the cooperative.
"To be recognized as the best out of 750 investment programs is a tremendous honor. It goes to show that with the right tools in place–the support of senior management, a fantastic service culture and solid hiring practices–and a focus on our members’ financial well-being, it’s possible to build a strong investments program," said Matthew Clark, Mountain America’s vice president of financial services.
The credit union received the honor at LPL’s recent Program Leadership Conference 2011 held in San Francisco.
Mountain America said it has been offering investment services including stocks and bonds, mutual funds, annuities, retirement and estate planning for more than 20 years. When Clark took the helm in 2006 and partnered with LPL in 2007, the program took off, according to the credit union. More members were served as a result of an increase in referrals and an upgrade in talent, said Nathan Anderson, chief operating officer at Mountain America.
Considered to be the largest independent broker-dealer in the country, LPL supports more than 12,000 financial advisors and serves 750 financial institutions.