CHARLOTTE, N.C. – Feb. 21, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Savers Investment Services (Savers), the investment program offered at Savers Bank, has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. Savers reported having served about $100 million of client brokerage and advisory assets*. The program joins from Infinex.
Savers Bank is based in Southbridge, Mass., with six locations throughout the state. The bank focuses on simplifying banking by providing clients with better service and better solutions. The investment program supports that goal, offering wealth management that evaluates risk, current financial demands and future investment planning for their clients. Peter Kaslauskas, the investment executive and sole financial advisor at Savers, along with office support from Liisa Locurto, believes in establishing strong relationships and developing long-term cooperative efforts in his clients’ financial planning.
“I work closely with my clients to determine the best investment strategies that address their unique financial goals,” Kaslauskas said. “I needed a broker-dealer and partner that can help me best facilitate those relationships. LPL offers advanced tools and resources to help me reach new clients and deepen existing relationships. LPL provides advantages because of their scale and expertise in this space along with the stability to support us for the long run. The combination of these things can help our program grow in the ways we see possible."
“We welcome Peter and Savers Bank to the LPL family,” said Craig Kamis, LPL Financial executive vice president, Institutional Business Development. “Wealth management programs can be a vital part to the overall health of any bank or credit union. We strive to support institutions in their ability to build deeper, more meaningful relationships with their clients through the delivery of financial advice through their program. We understand the opportunity that exists for programs, their clients and the institution overall, and are committed to providing the support, resources and ongoing investments into the capabilities that will help them succeed.”
More information about Savers Investment Services can be found on their website Saversbank.com.
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 are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Savers Bank is not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Savers Investment Services, and may also be employees of Savers Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Savers Bank or Savers Investment Services.
Securities and insurance offered through LPL or its affiliates are not insured Savers Bank deposits and are not FDIC insured. These products are not obligations of Savers Bank and are not endorsed, recommended or guaranteed by Savers 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, Savers Bank and Savers Investment Services are separate entities.