The Chicago-based group's platform, offering a range of wealth management business models, is designed to help firms grow. The disruptions caused by lockdowns amid the pandemic have arguably ratcheted up the need to help firms raise their game.

LaSalle St, a Chicago-based group of US wealth management firms such as RIAs, has launched its Growth Acceleration Platform - an offering designed to help firms expand their business.

The platform offers training for new financial professionals; provides expertise in areas such as advertising and marketing; helps business leaders structure advisor compensation and incentives; check their product range and due diligence processes; and helps firms seeking to launch wealth management capabilities for the first time. In the credit union space, LaSalle St offers membership of a working group for affiliated firms to build best practices and share ideas.

"Financial institutions and their advisors have specialized needs when it comes to both the strategic direction and the day-to-day operations of their wealth management divisions,” Mark Contey, LaSalle St's senior vice president for business development, said.

LaSalle St is made up of LaSalle St Securities, an independent broker-dealer; LaSalle St Investment Advisors, a SEC-registered investment advisor; and LaSalle St Insurance Services, a provider of annuity and insurance products. The group was founded in 1974 and has about $10 billion in client assets.