LPL Financial is looking to expand via mergers and acquisitions, according to Investment News. On a call with analysts, LPL CEO Dan Arnold said that there were a number of factors that encourages mergers and acquisitions, including potential tax law changes. Investment News noted that recent mergers have included large firms acquiring small or midsize firms as well as megamergers such as Charles Schwab's acquisition of TD Ameritrade. According to Arnold, any potential deal with LPL would need to fit strategically, financially and operationally.

LPL has shown an interest in mergers and acquisitions by its advisors as well as at the corporate level. To help facilitate acquisitions by its advisors, LPL offers its advisors financing to purchase other practices.

As reported in an earlier Financial Advisor Transitions post, LPL recently purchased trading platform Blaze Portfolio. Additionally, LPL also recently acquired E.K. Riley Investments and Lucia Securities. LPL Financial has 17,168 advisors, making it the largest independent broker-dealer. LPL announced that its advisor count at the end of the third quarter had increased by 5% since the end of the third quarter of 2019.

Financial Advisor Transitions helps advisors weigh the advantages and disadvantages of their transition options, and guides them as they transition from one firm to another. Call us today for a free consultation.