In a move that catapults two strong firms to the forefront of third-party brokerage services to financial institutions, Linsco/Private Ledger Corp. (LPL) of Boston and San Diego will buy Charlotte, North Carolina-based UVEST Financial Services. “This makes us the market leader working with banks and credit unions,” says Mark Casady, chairman, CEO, and president of LPL. Casady will be chairman of UVEST, once the deal closes, succeeding UVEST founder and Chairman John Robison. LPL’s Financial Institution Services (FIS) unit and UVEST’s 230 employees in Charlotte will report to Dan Arnold, COO, president and newly appointed CEO of UVEST.
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