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M&T Bank (MTB) Launches New Features Under Wilmington Advisors (Revised)
M&T Bank (MTB - Free Report) has completed the previously-announced transition of its financial advisory and retail brokerage service arm by launching the latest capabilities under the brand name of Wilmington Advisors @ M&T.
Wilmington Advisors @ M&T will combine the bank’s extensive financial expertise with LPL Financial’s (LPLA - Free Report) industry-leading technology and back-office prowess, thereby, enhancing investment solutions offers to clients. Moreover, the long-term strategic partnership with LPL Financial will offer robust technology and infrastructure as well as progressive financial planning tools to advisors and clients.
This builds on LPL Financial’s significant investments in technology in the past year to offer innovative investment solutions and an enhanced digital service experience to clients.
Particularly, Wilmington Advisors @ M&T will offer clients a full spectrum of the planning process that considers their entire financial picture instead of just their investments along with improved digital service and client experience, backed by LPL Financial's modern technology platform. This will enable advisors to integrate workflows and customize capabilities, thereby, increasing their efficiency and saving time.
Per management, the move indicates “a paradigm shift in how we serve client's planning and investment needs, delivering our advisors and their clients comprehensive benefits through LPL Financial's continual investment in its digital platforms and back-office capabilities."
The company believes that this will facilitate it to capitalize on American consumers’ needs for professional guidance as they increase spending on lifestyle upgrades, increase investments in retirement and college education, which were being delayed due to the pandemic.
Currently, M&T Bank carries a Zacks Rank #3 (Hold). The stock has gained 17.4% over the past six months, underperforming the industry’s rally of 25.4%.
Image Source: Zacks Investment Research
Stock to Consider
KeyCorp (KEY - Free Report) carries a Zacks Rank of 2 (Buy) at present. The Zacks Consensus Estimate for its 2021 earnings has been unchanged over the past 30 days at $2.25. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UMB Financial Corporation (UMBF - Free Report) carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for its 2021 earnings has been unchanged over the past 30 days at $7.04.
(We are reissuing this article to correct a mistake. The original article, issued on June 24, 2021, should no longer be relied upon.)