LPL Financial Unveils Strategic Partnership with First Horizon Bank
LPL Financial has entered into a strategic alliance with First Horizon Bank to bolster their wealth management offerings. First Horizon Advisors, a group of around 110 financial advisors overseeing approximately $16 billion in client assets across 12 states, will shift their broker-dealer and investment advisory services to LPL’s Institution Services platform.
Subject to regulatory approval, the transition is slated to finalize in the latter half of 2025. This strategic decision seeks to broaden First Horizon’s service portfolio while enabling them to prioritize growth and enhance client experience. Financial advisors will maintain their direct client connections while executing investment strategies via LPL’s platform.
“LPL’s industry-leading capabilities and operational support will allow us to expand our offering and concentrate our talent, resources and capital on driving continued growth and outstanding client experiences,” said Martin de Laureal, president at First Horizon Advisors, Inc.
Memphis, TN-based First Horizon Corporation managed $82.2 billion in assets as of December 31, 2024. LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of six million Americans.
