LPL Financial welcomes CUNA Brokerage Services to its institution services platform

TruStage announced its collaboration with LPL Financial in which CUNA Brokerage Services (CBSI) will continue to work directly with credit unions and financial professionals and will now leverage LPL’s integrated digital platform, streamlining the end-to-end experience for financial professionals and members. LPL will also provide back-end broker-dealer/ Registered Investment Advisor (RIA) services.

“By combining CUNA Mutual Group’s expertise in client experience and data-driven strategic consultation for credit unions and advisors with LPL’s leading platform, we will deliver an advisor and customer experience unique to the credit union industry. We are committed to helping more consumers make financial decisions that work for them, and we will continue to build, buy or partner to do so. We are excited to become one of LPL’s largest clients, and believe we’ll be able to instantly reach new heights with an enhanced value proposition for financial institutions, advisors and the members we serve.” – Rob Comfort, president, CBSI, a member of CUNA Mutual Group.

“We extend a warm welcome to CUNA Mutual Group as they join LPL’s network of institutional clients. CUNA Mutual Group is a leader in its market, and it’s an honor to have the opportunity to support their business. We look forward to supporting them in growing their capacity to serve a marketplace with an increasing demand for personalized advice.” – Rich Steinmeier, LPL Financial managing director and divisional president, Business Development.

In the coming months, CUNA Mutual will also launch a new brand, Cuna Mutual Group Financial Advisors, as it accelerates ways to better help people achieve a brighter financial future through investments and retirement. The move will capitalize on the momentum and wealth management relationships with credit unions that CBSI has built over the past 36 years. CBSI grew from 400 advisors in 2017 to more than 550 advisors currently, across approximately 300 credit unions, managing more than $36 billion in assets.

CBSI will continue to distribute annuity products.