Chicago-based Wintrust Financial Corp. is transitioning the $13 billion in client assets at broker-dealer Wintrust Investments to the LPL Institution Services platform from Wells Fargo.
Wintrust is also moving $3 billion from the private client unit of another subsidiary, Great Lakes Advisors, from Wells Fargo to LPL Institutional Services. The transition is expected to be finalized in the first quarter of 2025.
“We believe LPL is the right partner to help us take our business to the next level,” said Wintrust Wealth Management CEO Tom Zidar. “LPL’s integrated advisor platform and ongoing investment in technology will enable our advisors and portfolio managers to do even more for our clients. We are excited about the strategic relationship with LPL and the growth opportunities ahead of us.”
LPL Financial Senior Vice President Christopher Cassidy said his company will allow Wintrust advisors “to further differentiate their offerings, as they will have access to a cutting-edge platform that supports the changing needs of their clients and their businesses.”