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LPL Financial Welcomes Mutual Financial Group

SAN DIEGO, June 9, 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 it has welcomed Mutual Financial Group ("Mutual Financial"), the insurance and wealth management services subsidiary of Bank Mutual, to its institution services platform. Based on prior business, Mutual Financial reported servicing approximately $150 million of investment assets, as of May 31, 2015**.

The bank currently has 12 financial advisors serving Bank Mutual's extensive network of bank offices in Wisconsin and Minnesota, and it is seeking to grow its wealth management program. Its financial representatives build portfolios designed to be unique to the investment needs of its wide-ranging client base, and utilize its accessibility to insurance and investment planning and products, advisory products, brokerage services and wealth management services.

"We are pleased to have the support of LPL in order to realize our vision for Mutual Financial Group and to facilitate its growth and expansion," said David A. Baumgarten, president and chief executive officer of Bank Mutual. "We chose to align with a prominent leader in the institution services arena and will benefit from LPL's exceptional wealth management program support, access to a wide range of investment resources, advanced technology capabilities and support in financial advisor recruiting."

"We are delighted to welcome Mutual Financial Group to LPL," said Craig Kamis, LPL Institution Services senior vice president of business development. "We look forward to working closely with the bank and its advisors to help them manage and grow their wealth management program in alignment with their clients' needs."

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

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

About Mutual Financial Group

Mutual Financial Group, a wholly owned subsidiary of Bank Mutual, offers access to a wide range of insurance and investment products for a diverse population of mass-affluent and high net worth clients, including business owners, retirees and young professionals. Its parent company, Bank Mutual, was founded in 1892 and is the third largest bank headquartered in Wisconsin, with assets at March 31, 2015 of $2.4 billion. Bank Mutual offers the advantage of local decision making, and provides financial strategies for personal, small business and commercial clients that add value above and beyond traditional banking. For more information, visit www.bankmutual.com.

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 Bank Mutual deposits and are not FDIC insured. These products are not obligations of the Bank Mutual and are not endorsed, recommended or guaranteed by Bank Mutual 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. Bank Mutual and Mutual Financial Group are not registered broker/dealers and are not affiliated with LPL Financial.

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

Source:LPL Financial