LPL Financial has added Zions Bancorporation to its institution services platform.
Zions consists of more than 450 offices located in the western and southwestern U.S. representing more than $57 billion in assets.
The decision to partner with LPL was due in part to four areas of their platform, including the client experience; compliance, operations and technology; the advisor portal and tools; and finance and accounting, according to the announcement.
The bank focuses mainly on serving the financial planning needs of high-net-worth clients and provides services through eight subsidiary banking institution: Zions First National Bank (Utah, Idaho, Wyoming), California Bank & Trust, Amegy Corporation (Texas), National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado (Colorado, New Mexico), The Commerce Bank of Washington and The Commerce Bank of Oregon.
“We were particularly impressed with LPL’s technology, including its mobile capabilities, and the extent of advisor and operational supervision that LPL will provide,” said Julie Castle, executive vice president of Zions Bancorporation and CEO of Zions Capital Advisors. “The resources and skill set of the people we worked with at LPL also distinguished them above other potential partners we met.”
The LPL platform provides wealth management and trust services to more than 740 banks and credit unions throughout the U.S.