Summit Street Wealth Management, a bank-based wealth management team at Bank Five Nine, with about $200 million in client assets, has moved its book of business to LPL Financial’s institution services platform. The team was previously with MML Investors Services.
Bank Five Nine supports 14 branch offices throughout the Southeast of Wisconsin. Summit Street Wealth Management, which joined the bank in 2014, is made up of a six-person team and focuses on financial planning for every life stage. The team’s clients are mostly small business owners and individuals with “Midwestern family values.”
The team chose LPL to improve their client experience and have more independence in how they run their practice.
“We’re already receiving great feedback from our clients about the ease of navigation in LPL’s Account View, which is a convenient way for clients to access their financial information. The simplicity and granularity of it really makes life easier,” said Todd Sivak, vice president and director of wealth management. “We also wholeheartedly appreciate LPL President and CEO Dan Arnold’s history, having come from the bank channel, and his commitment to supporting financial institutions.”