LPL Financial is based in San Diego (above), Boston & Charlotte.

LPL Financial says a community bank with about $810 million in advisory and brokerage assets is the latest client to sign on to its Institution Services platform: First Interstate Wealth Management, which says that its 40 financial consultants will use LPL’s services.

Overall, the bank has 80 offices in Montana, Wyoming and South Dakota.

First Interstate’s executives “recognize the value the wealth management program delivers to the client experience and the bank’s bottom line,” according to Craig Kamis, head of Institutional Business Development for LPL. “We are excited they recognized LPL as a leader, and we look forward to supporting the First Interstate team as they continue to help their clients work toward their financial goals.”

LPL, which is working with about 700 banks and credit unions nationwide, is set to release its fourth-quarter 2016 earnings on Feb. 9. Analysts are expecting it to report earnings per share of $0.36 on revenue of $999.18 million.

Last week, Goldman Sachs upgraded its view of the company and its shares to a neutral rating from a sell rating, while Zacks Investment Research improved its rating to buy from hold.

“Partnering with LPL allows us to align with the firm we view as the strongest player in the independent broker-dealer space,” said Patricia Smith, president of First Interstate Wealth Management, in a statement.

“We wanted our advisors and our clients to have the support of a firm that has the financial strength and stability to transition the business to meet the new Department of Labor requirements while also maintaining choice,” Smith explained.

In addition, she says, First Interstate saw LPL’s investments in a digital wealth management platform as a move that “will add tremendous value to the work we do by enabling us to work more efficiently and provide a better service experience to our clients.”

LPL has about $500 billion in advisory and brokerage assets on its platform and provides services to 14,000 independent advisors, as well as 4,200 insurance advisors.

Earlier this month, President Dan Arnold took over the CEO post from outgoing executive Mark Casady. Casady, who ran the independent broker-dealer for 10 years, is staying on as nonexecutive chairman through March 3.

— LPL’s New CEO Comp Could Reach $5.4 Million on ThinkAdvisor.