Business
Commerce Financial Advisors Joins LPL Financial’s Institution Services Platform
The business includes nearly 30 financial advisors serving approximately $4.7 billion AUM CHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC
About this update from Commerce Bancshares, Inc.
[{"type":"text","content":"The business includes nearly 30 financial advisors serving approximately $4.7 billion AUM\nCHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial” or “LPL”), today announced that Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, has joined LPL’s Institution Services platform. Commerce Financial Advisors is made up of nearly 30 financial advisors who collectively serve approximately $4.7 billion of brokerage and advisory assets. Commerce Bank is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH). “For more than 35 years, Commerce Financial Advisors has helped clients and their families reach their financial goals by providing sound financial advice,” said Mark Potter, President of Commerce Financial Advisors. “We’re excited about our partnership with LPL. Being able to leverage LPL’s operational excellence, economies of scale and innovative technology, along with Commerce Financial Advisors’ holistic advice, will allow us to elevate the personalized service experience for all our clients.” “We extend a warm welcome to the Commerce Financial Advisors leadership team, field management, advisors and support staff as they join LPL’s network of enterprise clients,” said Ken Hullings, executive vice president, Enterprise Business Development, LPL Financial. “LPL is committed to providing Commerce Financial Advisors with the technology, digital capabilities and planning resources needed to strengthen client relationships and differentiate their offering in the marketplace. We look forward to our continued partnership with the leadership team at Commerce and supporting them in growing their wealth management business.” Commerce Bank and LPL Financial signed an agreement in November 2022 to transition support of Commerce Financial Advisors to LPL’s Institution Services platform. About Commerce BankWith $32.8 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In additi...