LaSalle St. Securities, Kentucky credit union form partnership

LaSalle St. Securities, based in Elmhurst, said it has added Kentucky-based L & N Federal Credit Union to its growing network of financial adviser affiliations.

Grael Barker, Chet Winn and Phyllis Spears, who collectively manage over $100 million in client assets under the name of L & N Investment Services, chose to join LaSalle St. after LPL Financial announced the buyout of their previous broker/dealer, Invest Financial.

"At LaSalle St. Securities, we like to partner with firms that share our values. L & N serves its clients with the same type of personalization and care we show to our clients (our advisers), and we look forward to providing our like-minded new partner with the high-end affiliation experience they deserve," said Mark Contey, LaSalle St. Securities' SVP of Business Development.

Established in 1954 to serve the L & N railroad workers in Louisville, Kentucky, L & N Federal Credit Union now services clients throughout the Southern and Midwestern regions of the country. In 2017, L & N was named one of the best places to work in the state of Kentucky. L & N is a family that truly cares for its clients and its staff, and LaSalle St. is excited about beginning this new partnership.

"When our former broker/dealer, Invest Financial, was purchased by LPL, we began to explore smaller, boutique-style firms that would allow us to have greater control over our own business," said Grael Barker, VP of financial services at L & N Federal Credit Union. "After an extensive due diligence process with many firms, we simply felt that the team at LaSalle St. would provide the type of support model and platform that we needed and were looking for. They promised a personalized relationship that would provide necessary structure while, at the same time, allowing us to keep our independence."

Contey added, "As our industry continues to consolidate, more and more financial advisers have chosen to make LaSalle St. Securities their new home. In 2017 alone, the firm welcomed new teams that collectively manage over $700 million in client assets, with key wins from advisers who were formally affiliated with many different firms including several from Securities America and LPL Financial. The firm is well positioned to build on these successes as we head into 2018".

LaSalle St. Securities is an independent hybrid broker-dealer, headquartered in Elmhurst with more than $9 billion in assets under management. Since 1975, LaSalle St. has supported more than 300 financial advisers located throughout the United States.