The Fly

LPL Financial welcomes BancorpSouth to Institution Services Platform

LPL Financial (LPLA) announced that Cadence Bank (CADE) plans to onboard the investment business of legacy BancorpSouth Bank to LPL’s platform in the fourth quarter of 2022. Legacy Cadence Bank, which leveraged LPL’s Investment Services platform to support its investment business, merged into BancorpSouth Bank in a deal that closed in October 2021. Legacy BancorpSouth’s retail advisory and brokerage business comprises more than 25 financial advisors, who collectively serve ~$2.5 billion of brokerage and advisory assets estimated as of September 30, 2022

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