LPL, Commonwealth
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The deal will provide a significant boost to LPL, giving it Commonwealth’s approximately 2,900 financial advisors and $285 billion of brokerage and advisory assets.
From Barron's
The purchase of Commonwealth Financial Network, which is expected to close by year’s end, is one of LPL’s largest ever deals and will push LPL’s advisor head count past 30,000.
From Business Insider
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Rich Steinmeier, CEO of LPL Financial Holdings Inc., first reached out to Joe Deitch, owner and chairman of Commonwealth Financial Network, around Christmas last year, and sent him an email. The intent, according to Steinmeier, was not to discuss LPL buying Commonwealth, but rather a simple electronic hello.
Industry experts think LPL will have to work hard to retain Commonwealth advisors who were sold on the idea that they'd be working for a "boutique" firm.
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LPL Financial is back on sale after getting dragged down by the broader market turmoil. Read more about LPLA stock here.
LPL Financial (LPLA) that financial advisor Austin Greer has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Oxford
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LPL Financial LLC boosted its position in Nuveen ESG Mid-Cap Growth ETF (BATS:NUMG – Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission.
The firm's latest additions, led by a second-generation financial advisor, are striking out via its Linsco employee advisor channel.