Additional Funding Source Will Accelerate Growth Objectives for Firm and Affiliated Advisors
CHICAGO, Sept. 19, 2023 — LaSalle St., a family of wealth management firms encompassing an independent broker-dealer; RIA and insurance platforms, and a financing division (LaSalle St. Financial), today announced it has established a relationship with Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc, (NYSE: LOB) to provide access to additional capital that will open up additional funding sources and allow the firm to continue executing on its growth objectives.
“We established this relationship with Live Oak Bank to take advantage of the opportunities we see in the market,” said Mark Contey, Chief Marketing Officer. “By fostering this relationship with a trusted industry partner, LaSalle St. can continue to offer options that allow the firm to move quickly and provide compelling solutions as we drive our growth through recruiting, succession planning and M&A.”
Live Oak Bank is a digitally focused, FDIC-insured bank with significant experience supporting wealth management enterprises across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. The relationship will enhance LaSalle’s existing financial support programs that help the firm continue to identify acquisition and growth opportunities.
“We are thrilled to offer LaSalle St. affiliated advisors a range of capital solutions to support their growth,” said James Hughes, Head of Investment Advisor Financing at Live Oak Bank. “For 11 years, we have worked with financial advisors and understand the unique needs of this sector. Live Oak shares LaSalle St. leadership’s dedication to personal service that enables advisors to grow and scale their businesses.”
About LaSalle St.
LaSalle St. is a family of firms comprising LaSalle St. Securities, an independent broker-dealer; LaSalle St. Investment Advisors, a SEC-registered investment adviser; and LaSalle St. Insurance Services, a provider of annuity and insurance products. It has a singular mission of supporting the growth and success of independent financial advisors across the country. Founded in 1974 and based in Chicago, Illinois, LaSalle St. supports more than 300 financial advisors, has over $12 billion in total client assets and is registered in all 50 states. The LaSalle St. companies offer a wide range of services, including brokerage, advisory, investment and insurance. The firm clears primarily through National Financial Services, with custodial services through NFS parent Fidelity Investments. For more information, visit https://lasallest.com/.
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Donald Cutler or Lorene Yue
Haven Tower Group
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