CHARLOTTE, N.C. – Jan. 14, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Third Oak Investment Services (Third Oak), the investment program offered at Baraboo State Bank, has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. Third Oak reported having served approximately $200 million of client brokerage and advisory assets*. The program joins from Raymond James.
Based in Baraboo, Wis., the bank offers investment services at four of its eight locations. Bank President and CEO Corey Davis said, “We believe what separates us from most financial institutions is that we are a local bank that has the tools to serve our community,” he said, describing the firm’s philosophy to help “realize the potential of individuals, their businesses, their investments and their legacies.” He added, “We needed a strong partner to help us support our mission. Our clients will have an opportunity to access additional services with the resources, tools and integrated platform that LPL Financial provides. This relationship expands our ability to serve current and new clients, giving us the ability to help impact the financial lives of those in our community.”
Four advisors provide wealth management services, including Pete Welsh, senior vice president, Trusts and Investments, Lisa McClyman, Laura Stanek and Jennifer Kinzler. They share in the bank’s mission to empower their community by providing sophisticated, tailored advice and a detailed plan to help clients pursue their individual financial goals. “In a nutshell, we believe LPL’s focus supporting financial institutions is exactly what we need,” Welsh said. “LPL provides a full-service offering that includes the support and technology that will help us be better positioned to serve our clients.”
Craig Kamis, LPL Financial executive vice president, Institutional Business Development, said, “We have been a leading third-party investment services provider to banks and credit unions for over a decade and that is because we provide our financial institution partners technology and product platforms as well as the expertise to help them capitalize on the unique opportunities inherent in their organization. With the support of LPL, institutions can expand on the services they offer clients and maximize relationships by serving more of their clients’ needs. We are dedicated to continually improving our offering and look forward to supporting the team at Baraboo State Bank for years to come.”
Read about other firms that recently joined LPL in the News and Media section.
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Baraboo Bank deposits and are not FDIC insured. These products are not obligations of the Baraboo Bank and are not endorsed, recommended or guaranteed by Baraboo Bank or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.
*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets have not been independently and fully verified by LPL Financial.
**Based on total revenues, Financial Planning magazine June 1996-2018
LPL Financial, Third Oak Investment Services and Baraboo State Bank are separate entities.