JPMorgan Chase & Co. has signed an agreement with LPL Financial to provide access to new issue municipal bonds to LPL financial advisors.
The agreement will see LPL becoming a preferred retail dealer for JPMorgan.
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Under the partnership, LPL financial advisors will be able to access new issue municipal bonds through their proprietary platform and orders for new bonds will be treated on par with JPMorgan and other orders submitted to the underwriting syndicate.
Mike Haire, vice president, fixed income trading at LPL Financial, said: "LPL Financial will now be able to offer the more than 17,500 financial advisors served by LPL access to the new issue municipal bond market from JPMorgan."
Paul Palmeri, head of public finance for JPMorgan, said: "Partnering with LPL will enable us to offer our municipal issuer clients access to an expansive network of financial advisors and investors."
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By GlobalData
