LPL Financial (LPLA) said Monday it reached an agreement with First Horizon's (FHN) First Horizon Bank unit to transition its broker-dealer and investment advisory services, First Horizon Advisors, to LPL's platform.
Financial terms of the deal were not provided.
The company said the partnership involves around 110 financial advisors managing about $16 billion in client assets across 12 states.
The transition is expected to be completed in H2, pending regulatory approval, LPL said.
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