Banking News

LPL Financial Welcomes Commerce Financial Advisors to its Institution Services Platform

LPL Financial Welcomes Commerce Financial Advisors to its Institution Services Platform

Business comprises nearly 30 financial advisors, who collectively serve $4.4 billion of brokerage and advisory assets

LPL Financial LLC announced an agreement with Commerce Bank to transition support of Commerce Financial Advisors to LPL’s Institution Services platform. Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, comprises nearly 30 financial advisors who collectively serve approximately $4.4 billion of brokerage and advisory assets as of November 15, 2022. Commerce Bank is a subsidiary of Commerce Bancshares, Inc.

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“Commerce Financial Advisors has always been focused on helping our clients meet their financial goals through a tailored investment strategy, and LPL is the right partner to help us meet and exceed our client’s investment goals,” said John Handy, chief executive officer, Commerce Trust. “LPL’s integrated wealth management platform and focus on user experience will provide tremendous value to our advisors and allow them to deliver an advanced service experience to our clients.”

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“We are looking forward to Commerce Financial Advisors joining the LPL Institution Services platform,” said Ken Hullings, senior vice president, Enterprise Business Development, LPL Financial. “Just as Commerce is committed to providing the best service experience to their clients, LPL is committed to providing their advisors with the best technology, digital capabilities, and planning resources, to differentiate their offering, and continue to grow their wealth management program. We look forward to partnering with the team at Commerce and enhancing their ability to serve a marketplace with an increasing demand for personalized financial advice.”

About Commerce Bancshares, Inc.

With $32.6 billion in assets, Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage.

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