SAN DIEGO and CHICAGO, Nov. 19, 2012 /PRNewswire/ -- LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that it has added Alliant Credit Union to its Institution Services platform. LPL Financial's Institution Services unit is the leading provider of comprehensive third-party brokerage, wealth management and trust services to the investment programs of banks and credit unions throughout the nation.
Headquartered in Chicago, IL, Alliant Credit Union is the sixth-largest U.S. credit union based on asset size, serving more than 270,000 members through its online services and through 14 branches across the country. Founded in 1935, Alliant was originally established as the credit union for employees of United Airlines and today serves a diversified range of clients from major corporations to smaller enterprises and individuals, with $8.2 billion in assets. Its investment program has a total of 9 financial advisors.
Laura Wallace, Vice President Branches and Retirement & Investment Services at Alliant Credit Union, said, "We are enthusiastic about partnering with LPL Financial, in order to bring our members the highest quality service in the industry. The winning combination provided by LPL Financial of brokerage services, wealth management and trust solutions will enable Alliant Credit Union to significantly extend the range of services we offer our client members."
Wallace continued, "As a nationwide credit union, Alliant Credit Union was looking for a partner with the scale and resources to help us grow our 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. Additionally, Alliant will be able 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."