LPL Financial Completes Acquisition of Commonwealth Financial Network

By Philip Seaworth • Friday, August 01 10:30 • Permanent Link

LPL Financial Holdings Inc. (NASDAQ: LPLA) has successfully completed its acquisition of Commonwealth Financial Network, a wealth management firm supporting approximately 3,000 advisors managing $305 billion in assets. This acquisition marks a significant achievement for LPL Financial, as it aims to provide the best-in-class firm for financial advisors through customized experiences and a breadth of wealth management solutions.

Commonwealth Financial Network was ranked #1 in independent advisor satisfaction among financial investment firms by J.D. Power for the 12th consecutive year in July. This accolade underscores the strong reputation and service excellence that Commonwealth brings to LPL Financial.

The acquisition is expected to strengthen LPL Financial's position in the wealth management sector and is aligned with its goal to achieve a 90% retention target. Commonwealth will operate as a wholly-owned portfolio company through the onboarding of Commonwealth advisors to LPL’s platform, which is anticipated to be completed in the fourth quarter of 2026.

LPL Financial, already among the fastest-growing wealth management firms in the U.S., further solidifies its position by supporting over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $1.9 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans.

As LPL Financial continues to evolve and expand its offerings, the acquisition of Commonwealth Financial Network is expected to contribute to its growth and further enhance its ability to provide a wide range of advisor affiliation models, investment solutions, fintech tools, and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. The market has reacted to these announcements by moving the company's shares -0.82% to a price of $395.73. For the full picture, make sure to review LPL Financial's 8-K report.

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