Deals Of The Day: The Latest In Wealth Management M&A – LPL Financial, M&T Corp

Editorial Staff

7 July 2022

LPL, M&T Bank Corp
Nasdaq-listed LPL Financial has announced that M&T Bank Corp, which uses LPL’s services to support its retail advisory and brokerage business, intends to put these services – collectively covering about $6 billion – on its platform in the second half of this year.

“Last June, M&T onboarded the retail brokerage and advisory business to LPL’s platform,” Matt McAfee, M&T senior executive vice president and head of affluent markets, said. “Given our experience with LPL’s technology, risk management and digital capabilities, we made the decision to capitalize on LPL’s integrated platform and committed investments to support People’s United’s retail advice business as well.”

M&T Bank Corp is based in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.

LPL supports almost 20,000 advisors, 800 institution-based investment programs, and 500 RIAs across the US.