LPL Financial Acquires Minority Stake in Private Advisor Group

LPL Financial Acquires Private Client Group Business of Boenning & Scattergood

July 8, 2022

Financial Services

LPL Financial has entered into a definitive purchase agreement to acquire the Private Client Group business of Boenning & Scattergood, a 108-year-old family-owned broker/dealer and RIA based in West Conshohocken, Pennsylvania. The asset purchase will onboard approximately 40 advisors and about $5 billion of advisory and brokerage assets onto LPL's employee advisor model, and is expected to close in early 2023 subject to regulatory approvals.

Private Advisor Group Acquires Investors Financial Group

March 16, 2022

Financial Services

Private Advisor Group, a Morristown, New Jersey-based independent wealth management firm, has acquired Minnesota-based registered investment advisor Investors Financial Group (IFG). IFG — comprised of nearly 30 advisors and staff and managing $1.86 billion in advisory AUM as of Dec. 31, 2021 — will transition RIA management to Private Advisor Group to gain practice management resources, scale, and succession planning support.

LPL Financial Acquires The Investment Center, Inc.

September 4, 2024

Financial Services

LPL Financial has entered into a definitive agreement to acquire The Investment Center, Inc., a Bedminster, New Jersey-based broker-dealer and registered investment adviser that supports approximately 240 advisors and services about $9 billion of brokerage and advisory assets. The Investment Center will be converted onto LPL's platform; the transaction is expected to close and convert in the first half of 2025, subject to regulatory approvals and customary closing conditions.

LPL Financial Acquires Crown Capital Securities' Wealth Management Business

May 8, 2024

Wealth Management

LPL Financial has closed its acquisition of the wealth management business of Crown Capital Securities, L.P., a full-service broker-dealer and registered investment advisor based in Orange County, California. Approximately 125 advisors representing about $1.3 billion of brokerage and advisory assets have been onboarded to LPL as of May 8, 2024, with roughly $3.7 billion expected to transfer in the coming months.

LPL Financial Acquires Commonwealth Financial Network

August 1, 2025

Financial Services

LPL Financial Holdings Inc., together with its subsidiaries, has completed the acquisition of Commonwealth Financial Network, a wealth management firm that supports roughly 3,000 advisors and manages about $305 billion in assets. Commonwealth will operate as a wholly owned portfolio company while its advisors are onboarded to LPL's platform, and Commonwealth's CEO Wayne Bloom will continue to lead the business within LPL.

LPL Financial Acquires Financial Resources Group Investment Services

November 3, 2022

Financial Services

LPL Financial Holdings Inc. entered into a definitive agreement to acquire Financial Resources Group Investment Services (FRGIS) in an equity purchase that included $140 million paid at closing plus additional earn-outs. FRGIS — a Fort Mill, South Carolina-based advisor and financial institution support business serving roughly $40 billion in assets across ~800 advisors and 85 financial institutions — will continue to operate independently and retain its brand and leadership following the transaction.