Latest Commerce Bank News
Aug 23, 2023
Boston, Massachusetts, UNITED STATES CHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial” or “LPL”), today announced that Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, has joined LPL’s Institution Services platform. Commerce Financial Advisors is made up of nearly 30 financial advisors who collectively serve approximately $4.7 billion of brokerage and advisory assets. “For more than 35 years, Commerce Financial Advisors has helped clients and their families reach their financial goals by providing sound financial advice,” said Mark Potter, President of Commerce Financial Advisors. “We’re excited about our partnership with LPL. Being able to leverage LPL’s operational excellence, economies of scale and innovative technology, along with Commerce Financial Advisors’ holistic advice, will allow us to elevate the personalized service experience for all our clients.” “We extend a warm welcome to the Commerce Financial Advisors leadership team, field management, advisors and support staff as they join LPL’s network of enterprise clients,” said Ken Hullings, executive vice president, Enterprise Business Development, LPL Financial. “LPL is committed to providing Commerce Financial Advisors with the technology, digital capabilities and planning resources needed to strengthen client relationships and differentiate their offering in the marketplace. We look forward to our continued partnership with the leadership team at Commerce and supporting them in growing their wealth management business.” Commerce Bank and LPL Financial signed an agreement in November 2022 to transition support of Commerce Financial Advisors to LPL’s Institution Services platform. About Commerce Bank With $32.8 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com . 1As of June 30, 2023 About LPL Financial LPL Financial Holdings Inc. ( Nasdaq: LPLA ) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 550 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and enterprises, so they can take care of their clients. Securities and Advisory services offered through LPL Financial, LLC ("LPL Financial"), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Commerce Brokerage Services, Inc., Commerce Bank, Commerce Bancshares, Inc., and LPL Financial are separate entities. Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial. We routinely disclose information that may be important to shareholders in the " Investor Relations " or " Press Releases " section of our website. Forward Looking Statements Statements in this press release regarding the future operating results, growth and plans of LPL and Commerce Bancshares, Inc. (“CBSH”), including those related to expected future benefits of the relationship between LPL and CBSH, the future of CBSH’s wealth management program, levels of assets serviced and advisor and client experience, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the historical performance of LPL and CBSH‘s retail brokerage and advisory business and LPL’s plans, estimates and expectations as of August 23, 2023. Forward-looking statements are not guarantees that the amount or timing of asset onboarding, or the results, plans, intentions or expectations, expressed or implied by LPL or CBSH will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets onboarded, actual financial or operating results, levels of activity or the timing of events to be materially different from those expressed or implied by forward-looking statements. In particular, LPL can provide no assurance that the assets reported as serviced by CBSH’s retail advisors will translate into assets serviced at LPL. Important factors that could cause or contribute to such differences include: disruptions in the businesses of LPL or CBSH that could make it more difficult to maintain relationships with their respective advisors and their clients; the choice by clients of CBSH’s retail advisors not to open brokerage and/or advisory accounts at LPL; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry, including competitors’ success in recruiting CBSH’s retail advisors and their clients; and the other factors set forth in Part I, “Item 1A. Risk Factors” in LPL’s 2022 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, LPL specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing LPL’s views as of any date subsequent to August 23, 2023. Contacts
Commerce Bank Frequently Asked Questions (FAQ)
Where is Commerce Bank's headquarters?
Commerce Bank's headquarters is located at 7312 Eagle Crest Blvd., Evansville.
What is Commerce Bank's latest funding round?
Commerce Bank's latest funding round is Acquired.
Who are the investors of Commerce Bank?
Investors of Commerce Bank include Indiana Members Credit Union.