LPL Financial Closes Its Acquisition of Commonwealth Financial Network
LPL Financial (NASDAQ: LPLA) has successfully completed its acquisition of Commonwealth Financial Network, a wealth management firm with approximately 3,000 advisors managing $305 billion in assets. Commonwealth's CEO Wayne Bloom joins LPL's management committee while retaining his current role, ensuring continuity in Commonwealth's operations.
The integration maintains Commonwealth's brand identity and service model, which recently earned its 12th consecutive #1 ranking in Independent Advisor Satisfaction by J.D. Power. LPL projects a 90% advisor retention rate, with the complete platform integration expected by Q4 2026. The combined entity strengthens LPL's position as a leading wealth management firm, currently supporting over 29,000 financial advisors and managing approximately $1.9 trillion in brokerage and advisory assets.
LPL Financial (NASDAQ: LPLA) ha completato con successo l'acquisizione di Commonwealth Financial Network, una società di gestione patrimoniale con circa 3.000 consulenti che gestiscono 305 miliardi di dollari in asset. Il CEO di Commonwealth, Wayne Bloom, entra a far parte del comitato di gestione di LPL mantenendo il suo ruolo attuale, garantendo così la continuità delle operazioni di Commonwealth.
L'integrazione preserva l'identità del marchio e il modello di servizio di Commonwealth, che ha recentemente ottenuto il suo 12° riconoscimento consecutivo come #1 nella Soddisfazione degli Consulenti Indipendenti da parte di J.D. Power. LPL prevede un tasso di fidelizzazione dei consulenti del 90%, con l'integrazione completa della piattaforma prevista entro il quarto trimestre del 2026. L'entità combinata rafforza la posizione di LPL come società leader nella gestione patrimoniale, attualmente a supporto di oltre 29.000 consulenti finanziari e con circa 1,9 trilioni di dollari in asset di intermediazione e consulenza gestiti.
LPL Financial (NASDAQ: LPLA) ha completado con éxito la adquisición de Commonwealth Financial Network, una firma de gestión patrimonial con aproximadamente 3,000 asesores que administran 305 mil millones de dólares en activos. El CEO de Commonwealth, Wayne Bloom, se une al comité directivo de LPL manteniendo su cargo actual, asegurando la continuidad en las operaciones de Commonwealth.
La integración mantiene la identidad de la marca y el modelo de servicio de Commonwealth, que recientemente obtuvo su 12ª clasificación consecutiva como #1 en Satisfacción de Asesores Independientes según J.D. Power. LPL proyecta una tasa de retención de asesores del 90%, con la integración completa de la plataforma prevista para el cuarto trimestre de 2026. La entidad combinada fortalece la posición de LPL como una firma líder en gestión patrimonial, apoyando actualmente a más de 29,000 asesores financieros y gestionando aproximadamente 1.9 billones de dólares en activos de corretaje y asesoría.
LPL Financial (NASDAQ: LPLA)는 약 3,000명의 자문사가 3,050억 달러의 자산을 관리하는 자산 관리 회사인 Commonwealth Financial Network의 인수를 성공적으로 완료했습니다. Commonwealth의 CEO인 Wayne Bloom은 현재 직책을 유지하면서 LPL 경영위원회에 합류하여 Commonwealth 운영의 연속성을 보장합니다.
통합 과정에서 Commonwealth의 브랜드 정체성과 서비스 모델이 유지되었으며, 이는 최근 J.D. Power가 선정한 독립 자문사 만족도에서 12년 연속 1위를 차지했습니다. LPL은 90%의 자문사 유지율을 예상하며, 플랫폼 완전 통합은 2026년 4분기까지 완료될 예정입니다. 합병된 회사는 현재 29,000명 이상의 금융 자문사를 지원하며 약 1조 9천억 달러의 중개 및 자문 자산을 관리하는 LPL의 자산 관리 선도 기업으로서의 입지를 강화합니다.
LPL Financial (NASDAQ: LPLA) a finalisé avec succès l'acquisition de Commonwealth Financial Network, une société de gestion de patrimoine comptant environ 3 000 conseillers gérant 305 milliards de dollars d'actifs. Wayne Bloom, PDG de Commonwealth, rejoint le comité de direction de LPL tout en conservant son poste actuel, assurant ainsi la continuité des opérations de Commonwealth.
L'intégration préserve l'identité de la marque et le modèle de service de Commonwealth, qui a récemment obtenu son 12e classement consécutif en tant que n°1 de la satisfaction des conseillers indépendants selon J.D. Power. LPL prévoit un taux de rétention des conseillers de 90%, avec une intégration complète de la plateforme attendue d'ici le quatrième trimestre 2026. L'entité combinée renforce la position de LPL en tant que société de gestion de patrimoine de premier plan, soutenant actuellement plus de 29 000 conseillers financiers et gérant environ 1,9 trillion de dollars d'actifs de courtage et de conseil.
LPL Financial (NASDAQ: LPLA) hat die Übernahme von Commonwealth Financial Network, einem Vermögensverwaltungsunternehmen mit etwa 3.000 Beratern, die 305 Milliarden US-Dollar an Vermögenswerten verwalten, erfolgreich abgeschlossen. Wayne Bloom, CEO von Commonwealth, tritt dem Managementkomitee von LPL bei und behält dabei seine aktuelle Position bei, um die Kontinuität der Commonwealth-Geschäfte zu gewährleisten.
Die Integration bewahrt die Markenidentität und das Servicemodell von Commonwealth, das kürzlich seine 12. aufeinanderfolgende #1-Platzierung in der Zufriedenheit unabhängiger Berater von J.D. Power erhielt. LPL prognostiziert eine 90%ige Beraterbindungsrate, wobei die vollständige Plattformintegration bis zum vierten Quartal 2026 erwartet wird. Das kombinierte Unternehmen stärkt LPLs Position als führendes Vermögensverwaltungsunternehmen, das derzeit über 29.000 Finanzberater unterstützt und etwa 1,9 Billionen US-Dollar an Brokerage- und Beratungsvermögen verwaltet.
- Acquisition adds $305 billion in managed assets to LPL's portfolio
- Commonwealth's award-winning service model and brand identity preserved
- High projected advisor retention rate of 90%
- Commonwealth's experienced management team remains in place
- Integration leverages LPL's advanced technology and expanded capital solutions
- Extended integration timeline until Q4 2026 could present operational challenges
- Risk of advisor and client attrition during transition period
- Potential challenges in maintaining Commonwealth's distinctive service culture within larger organization
Insights
LPL's acquisition of Commonwealth creates an industry powerhouse that expands LPL's advisor base by 10% and AUM by 16%.
LPL Financial has successfully closed its acquisition of Commonwealth Financial Network, bringing approximately 3,000 advisors and
The integration strategy appears thoughtfully structured to preserve Commonwealth's distinctive value proposition. Commonwealth will operate as a wholly-owned portfolio company with its management team intact, including CEO Wayne Bloom joining LPL's management committee while retaining his leadership role at Commonwealth. This approach aims to maintain Commonwealth's award-winning service culture (ranked #1 in Independent Advisor Satisfaction for 12 consecutive years by J.D. Power) while leveraging LPL's technology infrastructure and capital resources.
The retention target of
This acquisition aligns with industry consolidation trends as wealth management firms seek scale advantages in technology investment, regulatory compliance, and product development. For LPL, this represents a significant expansion in the independent advisor channel, strengthening its competitive position against rivals like Raymond James and Ameriprise while potentially delivering revenue synergies through increased product penetration and operational efficiencies over time.
SAN DIEGO, Aug. 01, 2025 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (NASDAQ: LPLA), together with its subsidiaries, including LPL Financial LLC, announced the closing of its acquisition of Commonwealth Financial Network (“Commonwealth”), a wealth management firm supporting approximately 3,000* advisors managing
“Advisor success is woven into every aspect of the Commonwealth business, and we’re proud to welcome an incredible community of Advisors and the talented team at Commonwealth,” said Rich Steinmeier, LPL Financial chief executive officer. “Since its founding by Joe Deitch 46 years ago, Commonwealth has created a distinctive culture that prioritizes premium service. With Commonwealth joining LPL, we’re creating the best-in-class firm for financial Advisors through customized experiences and a breadth of wealth management solutions that enable Advisors to achieve sustainable success.”
Commonwealth Chief Executive Officer Wayne Bloom now joins the LPL management committee as a managing director and retains his role as chief executive officer of Commonwealth. Bloom and the Commonwealth management team will continue to lead Commonwealth and will be responsible for maintaining their award-winning advisor experience. In July, Commonwealth was ranked #1 in Independent Advisor Satisfaction Among Financial Investment Firms by J.D. Power for the 12th consecutive year.
“This partnership is rooted in our shared commitment to provide Advisors and their clients with the highest standard of service to foster their continued success,” said Bloom. “Today, Commonwealth begins its next chapter supported by LPL’s advanced technology, robust wealth management portfolio, and expanded capital solutions, all while retaining our brand and elevating our respected service experience. We’re preserving what our Advisors value most about Commonwealth — our deeply connected culture and the personalization that enables our Advisors to deliver meaningful value to their clients.”
LPL remains on track to achieve its
The acquisition was announced on March 31, 2025.
About Commonwealth Financial Network®
Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, 12 Times in a Row.” Founded in 1979, the firm has headquarters in Waltham, Massachusetts and San Diego, California, and an operations hub in Blue Ash, Ohio.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. LPL Financial Holdings Inc., LPL Financial LLC and Commonwealth Financial Network are separate entities.
We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.
*Value approximated based on asset and holding details provided to LPL from June 30, 2025.
Forward-Looking Statements
Certain of the statements included in this release, such as those regarding LPL Financial and its potential growth, business strategy and plans, including the expected benefits of LPL Financial’s acquisition of Commonwealth, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on current expectations and beliefs concerning future developments and their potential effects upon LPL Financial, Commonwealth or both. In particular, LPL Financial can provide no assurance that the assets reported as serviced by financial advisors affiliated with Commonwealth (“Commonwealth Advisors”) will translate into assets serviced by LPL Financial, that Commonwealth Advisors will transition registration to LPL Financial, that institutions served by Commonwealth or Commonwealth Advisors (“Commonwealth Institutions”) will join LPL or that the benefits that are expected to accrue to LPL Financial, Commonwealth and their respective advisors and stockholders as a result of the transaction described herein will materialize. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, and there are certain important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include disruptions to the parties’ businesses as a result of the announcement of the transaction; difficulties and delays in recruiting Commonwealth Advisors or Commonwealth Institutions, or onboarding the clients or businesses of Commonwealth Advisors or Commonwealth Institutions; the inability by LPL Financial to sustain revenue and earnings growth or to fully realize revenue or expense synergies or the other expected benefits of the transaction, which depend in part on LPL Financial’s success in onboarding assets currently served by Commonwealth Advisors; disruptions of LPL Financial’s or Commonwealth’s businesses due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with their respective financial advisors and their clients, employees, other business partners or governmental entities; the inability to implement onboarding plans and other consequences associated with acquisitions; the choice by clients of Commonwealth’s Advisors not to open brokerage and/or advisory accounts at LPL Financial or move their assets from Commonwealth to LPL Financial; unforeseen liabilities arising from the acquisition of Commonwealth; challenges replicating the Commonwealth Advisor service experience at LPL Financial; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; and the effects of competition in the financial services industry, including competitors’ success in recruiting Commonwealth’s Advisors. Certain additional important factors that could cause actual results or the timing of events to differ, possibly materially, from expectations or estimates expressed or implied in such forward-looking statements can be found in the “Risk Factors” and “Special Note Regarding Forward Looking Statements” sections included in LPL Financial’s most recent Annual Report on Form 10-K. Except as required by law, LPL Financial does not undertake to update any particular forward-looking statement included in this document as a result of developments occurring after the date of this press release.
Financial and Legal Advisors to the Transaction
Morgan Stanley & Co. LLC acted as exclusive financial advisor to LPL, with Allen Overy Shearman Sterling LLP serving as LPL’s legal counsel. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Commonwealth, with Ropes & Gray LLP serving as Commonwealth’s legal counsel.
Contacts
Media Relations
Media.relations@LPLFinancial.com
Investor Relations
investor.relations@lplfinancial.com
Tracking #774322
FAQ
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