CHARLOTTE, N.C. – May 20, 2020 – LPL Financial LLC, a leading retail investment advisory firm, RIA custodian and independent broker-dealer, announced today that LPL and Simmons Investment Services, the wealth management program at Simmons Bank, welcomed the recently acquired Landmark Bank investment program to LPL’s Institution services platform. Previously, Landmark Investments served approximately $400 million in brokerage and advisory assets* through Raymond James Financial Services. After acquiring Landmark, Simmons Investment Services now serves over 8,000 clients and approximately $1.5 billion in brokerage and advisory assets.
W. Cary Curzon, director of investment services at Simmons, said, “We have significant goals and aspirations to expand the services we offer through our footprint. The Landmark Investments acquisition enables us to accelerate our growth, and we are excited for the opportunities ahead.” The Simmons Investment program is based in Arkansas and has advisors located in Texas, Missouri and Tennessee.
LPL Financial and Our Long-Term Growth Strategy
“The LPL partnership plays an important role in executing on our long-term growth strategy,” Curzon said. “Our team has access to their innovative platform, products and support, which helps us deliver the best experience to our clients. LPL provides strategic support that helps us maximize the program’s value to our community and our institution.”
Curzon added, “What was particularly remarkable was that we were able to onboard the business in the midst of the COVID-19 pandemic. LPL didn’t hesitate to think outside the box. Their transition team used WebEx video conferencing to provide continuous support like they were right there with us.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “Institution-based investment programs have unique needs and opportunities, and LPL’s Institution Services model is designed to serve this segment of financial professionals. Partnering with program leaders like Cary, we provide strategic consulting and a high-touch service layer to help their programs operate efficiently and productively within the larger institution and add value to the clients we jointly serve. We congratulate Simmons Investment Services on their growth and welcome the newest members to their program.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, find an LPL business development representative near you.
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, professionals, 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.
LPL Financial Institution Services
LPL Financial is the nation’s leading provider of third-party investment services to financial institutions, offering insurance and investment services to approximately 800 banks and credit unions nationwide***. LPL provides resources, high-touch service, consulting and technology solutions to support bank and credit union wealth management programs.
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. Simmons Bank and Simmons Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Simmons Investment Services and Landmark Investments, and may also be employees of Simmons Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Simmons Bank and Simmons Investment Services. Securities and insurance offered through LPL or its affiliates are:
- Not insured by FDIC or any other government agency
- Not Bank Guaranteed
- Not Bank Deposits or Obligations
- May lose value
*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.
**Based on total revenues, Financial Planning magazine June 1996-2019
*** 2018/2019 Kehrer Bielan TPM Survey. Based on Financial Institution Market Share