Industry News
LPL agrees to acquire Commonwealth Financial Network: sources
Ian Wenik / Mar 28, 2025
The deal will be revealed as soon as Monday.
Independent broker-dealer LPL Financial has finalized a deal to acquire one of its biggest rivals, $344bn Commonwealth Financial Network, according to sources with knowledge of the situation.
The transaction will be officially announced as soon as Monday, according to a source. The exact purchase price LPL is paying to acquire Waltham, Mass.-based Commonwealth was not immediately clear. LPL informed employees of the deal on Friday, a source with knowledge of the situation told Citywire.
Spokespeople for LPL and Commonwealth did not immediately respond to requests for comment.
Citywire first reported on Thursday that LPL — the nation’s largest independent brokerage house — had held acquisition talks with Commonwealth. Headquartered in San Diego, LPL had roughly $1.8tn in advisory and brokerage assets as of the end of February. The company has roughly 29,000 advisors.
Commonwealth had roughly 2,345 affiliated advisors as of the end of 2024. The closely held business is controlled by 12 partners...
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Apr 01, 2025
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