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LPL Financial Supports BankPlus in Attracting Advisors to Grow Its Wealth Management Program

SAN DIEGO, June 4, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced that John W. ("Johnny") Lang and Michael D. Taylor have joined BankPlus, which is based in Ridgeland, Miss., and is supported by LPL. The duo has worked together for more than 27 years at a wirehouse firm and plans to use that experience to operate WealthPlus, a new unit of BankPlus's wealth management group that is focused exclusively on serving high-net-worth clients. Lang and Taylor reported that, based on prior business, they collectively serviced more than $350 million of client assets**, as of April 30, 2015. The pair will be joined by their client associates to provide high-end wealth management services to clients throughout Mississippi.

"We are thrilled to gain the talents of these two highly experienced financial advisors and their trusted team," said C. David Cleland, president of BankPlus's wealth management group. "We have known Mike and Johnny for many years as respected financial advisors within our local Ridgeland community. By joining BankPlus they expand our wealth management group's capabilities."

WealthPlus will operate as a new business unit within the BankPlus wealth management group. Lang, Taylor and team will provide commission-based brokerage services and fee-based advisory services through LPL. Augmented by BankPlus's existing trust and estates capabilities, and by LPL's extensive resources and services, WealthPlus will be able to provide comprehensive services to address the multigenerational and often complex wealth management needs of its high-net-worth clientele.

"LPL has served the wealth management program of BankPlus for many years," said Craig Kamis, senior vice president of business development, Institution Services, LPL. "We have worked closely with them to identify the opportunity that their wealth management program can present to advisors like Johnny and Mike and their clients. We are pleased to have been able to contribute LPL's consultative services and resources to enable the bank to expand its high-net-worth offering by adding such talented advisors."

"Joining BankPlus brings several advantages to our practice and our clients," said Lang. "The supportive structure of BankPlus will help us to realize operational efficiencies in managing our business, which enables us to focus our attention on our clients. At the same time, LPL's extensive array of tools – complementing our own wealth management capabilities – will provide the breadth and flexibility of choices to address the specialized needs of this particular client group."

*Based on total revenues, Financial Planning magazine, June 1996-2014

**Asset numbers were reported by Lang and Taylor based on prior business and have not been independently and fully verified by LPL Financial.

About BankPlus

BancPlus Corporation is the parent company of BankPlus, which was founded in 1909 as Citizens Bank & Trust Company (CB&T), in Belzoni, Miss. Today, with total assets of more than $2.5 billion, BankPlus, based in Ridgeland, Miss., has over 60 banking offices in 33 communities throughout Mississippi. The BankPlus wealth management group provides a range of services including investment management, brokerage, annuities and insurance, retirement services, and trust and estates administration. For additional information on BankPlus, please visit www.BankPlus.net.

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2014), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC

Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured BankPlus deposits and are not FDIC insured. These products are not obligations of BankPlus and are not endorsed, recommended or guaranteed by BankPlus or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

BankPlus is not a broker/dealer and is not affiliated with LPL Financial.

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CONTACT: Media Contact: Lauren Hoyt-Williams 980-321-1232 Lauren.Hoyt-Williams@lpl.com

Source:LPL Financial