LPL Financial (NASDAQ: LPLA) considers acquisitions a core part of its business expansion strategy. In sync with it, the company has signed a definitive agreement to acquire The Investment Center, Inc., a broker-dealer and registered investment adviser based in Bedminster, NJ.
The acquisition will bring The Investment Center's 240 advisors and nearly $9 billion in assets under LPL Financial's umbrella, reinforcing its strategy of expanding its advisor network and enhancing offerings.
The Investment Center's entrepreneurial ethos and advisor-first philosophy align closely with LPL Financial's mission, making the acquisition a natural fit. Rich Steinmeier, the company's managing director and chief growth officer, highlighted the opportunity to further empower The Investment Center's high-performing advisors with LPLA's industry-leading technology and resources.
By integrating The Investment Center's well-established back-office support services and investment tools, LPL Financial intends to enhance the service experience for its advisors and clients.
LPLA's Past Buyouts
Given a strong balance sheet position, LPL Financial has ...
