LPL Financial Announces Strategic Relationship with First Horizon Bank

Core Viewpoint - LPL Financial Holdings Inc. has entered into an agreement with First Horizon Bank to enhance wealth management services by transitioning support for First Horizon Advisors to LPL's platform, expected to be completed in the second half of 2025, pending regulatory approval [1][3]. Company Overview - First Horizon Corporation, with $82.2 billion in assets as of December 31, 2024, operates in 12 states and offers a range of financial services including commercial, private banking, and wealth management [4]. - LPL Financial is a leading wealth management firm in the U.S., supporting over 29,000 financial advisors and managing approximately$1.7 trillion in assets for around 6 million clients [5]. Strategic Implications - The partnership aims to leverage LPL's operational support to enhance First Horizon Advisors' offerings, allowing advisors to focus on client relationships and investment strategies [3]. - The transition is anticipated to empower First Horizon Advisors to provide superior financial advice and improve their market positioning [3].