M and A

Deals Of The Day: The Latest In Wealth Management M&A - LPL, Allen & Company

Editorial Staff August 2, 2019

Deals Of The Day: The Latest In Wealth Management M&A - LPL, Allen & Company

The latest transactions, mergers and acquisitions affecting North American wealth management.

LPL, Allen & Company
LPL Financial Holdings has completed its purchase of Allen & Company, a $3 billion broker-dealer and registered investment advisor, based in Lakeland, Florida.

The deal means that 33 members of the firm will join LPL, it said in a statement yesterday.

As shown by a raft of articles in recent weeks and months, scores of wealth management firms have joined LPL’s platforms, part of a pattern of new businesses taking flight and shifting from other platforms across the US.

The Allen & Company assets are expected to move across to LPL by the end of this year.

The purchase agreement was signed on May 17, and the transaction closed on August 1, following receipt of regulatory approval.

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