CUNA Mutual Group announces collaboration to strengthen wealth management services

CUNA Mutual Group on Monday announced a collaboration with LPL Financial in an effort to accelerate digital experiences for credit unions and their members, strengthening its wealth management business.

CUNA Mutual Group’s latest update focuses on CUNA Brokerage Services, Inc., with both CUNA Mutual Group and LPL Financial bringing strengths from each of their respective organizations together into a strategic alliance.

CBSI will continue to work directly with credit unions and financial professionals and leverage LPL’s integrated digital platform, streamlining the end-to-end experience for financial professionals and members, according to CUNA Mutual Group. LPL will also provide back-end broker dealer/ registered investment advisor services.

“By combining CUNA Mutual Group’s expertise in client experience and data-driven strategic consultation for credit unions and advisors with LPL’s leading platform, we will deliver an advisor and customer experience unique to the credit union industry,” said Rob Comfort, president of CBSI.

Rich Steinmeier, LPL Financial managing director/divisional president of business development said that CUNA Mutual Group “is a leader in its market, and it’s an honor to have the opportunity to support their business. We look forward to supporting them in growing their capacity to serve a marketplace with an increasing demand for personalized advice.”

In the coming months, CUNA Mutual Group also intends to launch a new brand, CUNA Mutual Group Financial Advisors, as it accelerates ways to better help individuals achieve brighter financial futures through investments and retirement, according to the organization. The move will capitalize on the momentum and wealth management relationships with credit unions that CBSI has built the past 36 years — CBSI grew from 400 advisors in 2017 to more than 550 advisors currently, across approximately 300 credit unions, managing more than $36 billion in assets, according to CUNA Mutual Group.

Leave a Reply