LaSalle St, a family of wealth management firms encompassing independent broker-dealer and registered investment adviser (RIA) platforms, has launched a Growth Acceleration Platform for financial institution-based wealth management programmes. The platform is designed to assist financial institutions in expanding and fully leveraging the potential of their wealth and investment management capabilities, thereby growing those lines of business and supporting each institution’s overall strategic goals.
The new platform is another example of LaSalle St’s commitment to providing the institutions and financial professionals it supports with flexible end-to-end solutions to drive ongoing growth, increase operating efficiency and deliver greater value for clients.
Mark Contey, LaSalle St.’s Senior Vice President for Business Development, said, “By virtue of their central role in clients’ financial lives and planning needs, bank and credit union-based wealth management professionals are uniquely positioned to help those institutions bring a new dimension to their relationships with customers, enabling them to pursue strategic goals such as increasing wallet share and driving referral business. With our new Growth Acceleration Platform for financial institutions-based wealth management programs, LaSalle St. is providing guidance that engages both institutional leaders and advisors in a holistic, customized service experience to help them more effectively pursue their goals for growth.”
LaSalle St’s Growth Acceleration Platform offers banks and credit unions and their financial advisors with:
Extensive training and onboarding assistance to educate new financial professionals on LaSalle St.’s services and the nuances of working within their respective financial institutions
Ongoing support from LaSalle St. leadership, home-office staff and third-party experts in all aspects of practice management and business development. Specific areas of expertise include marketing and advertising; client acquisition and onboarding; advisor recruiting and training; product due diligence and technology
On-demand support for institutions’ leadership teams on structuring advisor compensation and incentives; evaluating their institution’s product shelf and diligence processes; understanding how financial advisors fit into their overall business strategy; and much more
Membership on the LaSalle St. Bank and Credit Union Committee, a working group for LaSalle St.-affiliated, institution-based financial professionals that meets multiple times a year to build relationships and share best practices
Support and guidance for institutions seeking to launch wealth management capabilities for the first time, including assistance in determining whether to hire advisors or outsource wealth management functions to third-party independent advisors
Support for independent financial advisors who wish to partner with banks or credit unions to provide wealth management services to the institutions’ customers
Access to LaSalle St’s cutting-edge GuideTrack technology-enabled financial planning platform. GuideTrack utilises Fidelity Automated Managed Platform (AMP), Fidelity Institutional’s award-winning digital advice solution co-developed with eMoney Advisor, and provides turnkey client onboarding, planning, funding and account management capabilities that are tailored to support financial advisors’ client service and business growth needs
The new Growth Acceleration Platform for financial institutions-based wealth management programs has been developed around LaSalle St’s consultative approach to communicating and collaborating with the leaders of banks and credit unions, as well as with the independent financial advisers it supports.
Contey says: “Financial institutions and their advisers have specialised needs when it comes to both the strategic direction and the day-to-day operations of their wealth management divisions. With more than 25 years of experience in collaborating with banks and credit unions, coupled with a deep understanding of the drivers that power success for their wealth management programs, we stand ready to help those institutions and their financial professionals achieve new levels of growth.”