LPL Financial Acquires Minority Stake in Private Advisor Group
Reuters
Nov 21
LPL Financial Acquires Minority Stake in Private Advisor Group
LPL Financial Holdings Inc. has acquired a minority ownership stake in Private Advisor Group, a firm with $41.3 billion in assets under management. This transaction, with Republic Capital Group serving as investment banking advisor to Private Advisor Group, marks a significant strengthening of the long-standing relationship between the two firms. LPL joins Merchant Investment Management and six legacy shareholders as minority owners, broadening Private Advisor Group's ownership structure. The investment aims to support advisor growth, innovation, and enhanced service, while Private Advisor Group will continue to operate independently under its established brand.
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