Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

LPL Financial to Acquire Broker/Dealer Allen Company to Expand M/A Capabilities.

Document Cited in Related
Vincent

MANews-(C)2009-2019

29 May 2019 - California, US-based broker/dealer LPL Financial Holdings Inc. (NASDAQ: LPLA) has agreed to acquire Florida, US-based RIA and broker/dealer Allen and Company of Florida, Inc., to expand M and A capabilities, the company said.

The purchase agreement was signed on May 17, 2019, and the transaction is anticipated to close by the end of 2019, subject to receipt of regulatory approval and other customary closing conditions.

The purchase agreement provides for an initial purchase price and a potential contingent payment based on the portion of Allen and company's client assets that are onboarded to LPL's platform above a specified threshold.

LPL Financial said it will work with Allen and company on the next phase of growth leveraging LPL's capabilities and platform.

LPL Financial is in the retail financial advice market and the nation's largest independent broker-dealer, serving independent financial...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT