Private Advisor Group Announces Minority Investment by LPL Financial
Private Advisor Group announced that LPL Financial (Nasdaq: LPLA) acquired a minority ownership stake in Private Advisor Group, joining Merchant Investment Management and legacy shareholders.
The agreement, which became effective Nov. 18, 2025, aims to deepen strategic alignment, expand practice management and succession planning resources, and accelerate advisor growth while Private Advisor Group continues to operate independently under its existing brand. Exact financial terms were not disclosed.
Private Advisor Group ha annunciato che LPL Financial (Nasdaq: LPLA) ha acquisito una partecipazione di minoranza in Private Advisor Group, unendosi a Merchant Investment Management e agli azionisti storici.
L'accordo, divenuto effettivo il 18 novembre 2025, mira ad approfondire l'allineamento strategico, espandere le risorse di gestione della pratica e della pianificazione della successione, e accelerare la crescita dei consulenti mentre Private Advisor Group continua a operare in modo indipendente con il marchio esistente. I termini finanziari esatti non sono stati resi noti.
Private Advisor Group anunció que LPL Financial (Nasdaq: LPLA) adquirió una participación accionaria minoritaria en Private Advisor Group, uniéndose a Merchant Investment Management y a los accionistas históricos.
El acuerdo, que entró en vigor el 18 de noviembre de 2025, tiene como objetivo profundizar la alineación estratégica, ampliar los recursos de gestión de la práctica y planificación de la sucesión, y acelerar el crecimiento de los asesores, mientras Private Advisor Group continúa operando de forma independiente bajo su marca existente. Los términos financieros exactos no fueron revelados.
Private Advisor Group는 LPL Financial (Nasdaq: LPLA)가 Private Advisor Group의 소수 지분을 취득하여 Merchant Investment Management 및 기존 주주들과 합류했다고 발표했습니다.
합의는 2025년 11월 18일자로 발효되었으며, 전략적 정렬을 심화하고, 실무 관리 및 승계 계획 자원을 확장하며, 독립적으로 기존 브랜드 하에 운영되는 Private Advisor Group의 성장을 가속화하는 것을 목표로 합니다. 정확한 재무 조건은 공개되지 않았습니다.
Private Advisor Group a annoncé que LPL Financial (Nasdaq: LPLA) a acquis une participation minoritaire dans Private Advisor Group, rejoignant Merchant Investment Management et les actionnaires historiques.
L’accord, devenu effectif le 18 novembre 2025, vise à renforcer l’alignement stratégique, à étendre les ressources de gestion de la pratique et de la planification de la succession, et à accélérer la croissance des conseillers, tandis que Private Advisor Group continue d’opérer de manière indépendante sous sa marque existante. Les conditions financières exactes n’ont pas été divulguées.
Private Advisor Group gab bekannt, dass LPL Financial (Nasdaq: LPLA) eine Minderheitsbeteiligung an Private Advisor Group erworben hat und sich Merchant Investment Management sowie den bisherigen Aktionären anschließt.
Die Vereinbarung, die am 18. November 2025 in Kraft trat, zielt darauf ab, die strategische Ausrichtung zu vertiefen, Ressourcen für Practice-Management und Nachfolgeregelung zu erweitern und das Wachstum der Berater zu beschleunigen, während Private Advisor Group weiterhin eigenständig unter der bestehenden Marke operiert. Die genauen finanziellen Bedingungen wurden nicht offengelegt.
Private Advisor Group أعلنت أن LPL Financial (Nasdaq: LPLA) اشترت حصة ملكية صغيرة في Private Advisor Group، لتنضم إلى Merchant Investment Management والمساهمين القدامى.
الاتفاق، الذي أصبح ساري المفعول في 18 نوفمبر 2025، يهدف إلى تعزيز التوافق الاستراتيجي، وتوسيع موارد إدارة الممارسة والتخطيط للخلافة، وتسريع نمو المستشارين بينما تواصل Private Advisor Group العمل بشكل مستقل تحت علامتها التجارية الحالية. لم يتم الكشف عن الشروط المالية الدقيقة.
- LPL acquired a minority stake effective Nov. 18, 2025
- Adds LPL scale to expand practice management and succession planning
- Diversifies ownership with LPL joining Merchant and legacy shareholders
- Private Advisor Group to remain independent under existing brand
- Exact financial and transaction terms were not disclosed
Insights
Minority stake by LPL strengthens strategic ties and expands resources for advisors while Private Advisor Group remains independent.
Broadly, this is a capital-and-relationship deal: LPL Financial acquires a minority ownership stake in Private Advisor Group, joining Merchant Investment Management and legacy shareholders, with the agreement effective
Dependencies and risks are explicit and narrow: the announcement discloses no financial terms and emphasizes operational independence, so material control or integration risks are not stated. Legal and advisory firms are named, indicating standard transaction support. Watch for any future disclosures of deal economics or governance changes that could alter incentives; near-term observable milestones include expanded resource programs and any public descriptions of changes to advisor offerings over the next 6–18 months.
The transaction signals increased resourcing for advisors and formalizes a deeper channel alignment between two major wealth‑services players.
The operational thrust focuses on advisor-facing capabilities: the firms will expand practice management and succession-planning resources and point to existing initiatives such as the Alignment & Equity Program, WealthSuite platform and Greenhouse as examples of prior investment. Private Advisor Group will continue independent operations while drawing on both minority owners for added scale and support.
Key operational dependencies include how jointly provided services are governed and funded, and whether platform access or product availability changes for advisors; those specifics were not disclosed. Watch for program rollouts, statements on governance or service-level changes, and any published metrics on advisor adoption or asset growth in the next
LPL Financial Joins Merchant in Minority Ownership of Private Advisor Group, Strengthening Strategic Alignment
Further diversifying ownership, LPL joins Merchant Investment Management (Merchant) as a minority owner of Private Advisor Group alongside legacy shareholders, reinforcing the firm's foundation to better serve its advisor community and their clients for years to come.
"LPL is a natural partner based on our shared history and mutual alignment," said Frank Smith, CEO of Private Advisor Group. "At Private Advisor Group, we believe in offering advisors choice, flexibility, and a true path to growth. Both LPL and Merchant share this mindset and are uniquely positioned to advocate for advisors and shape the trajectory of our industry."
Marc Cohen, Group Managing Director, Chief Growth Officer at LPL added, "We are excited to strategically deepen our relationship with Private Advisor Group, which has been built over nearly 30 years on the shared value of driving advisors' success. This alignment will allow us to better deliver solutions to support advisors throughout their business lifecycle."
Powered by an advisor-first mindset, Private Advisor Group has been actively developing resources and solutions for its growing community. Since the firm's partnership with Merchant in 2021, Private Advisor Group has made significant investments in people, process and technology. Examples include the launch of its Alignment & Equity Program, WealthSuite investment management platform and Greenhouse, fueling innovation and accelerating asset growth.
"This investment deepens Private Advisor Group's alignment with LPL and strengthens the collaboration among all three firms. What excites us most is the power of partnership—combining Private Advisor Group's entrepreneurial spirit, Merchant's growth-oriented support, and LPL's scale to build a lasting foundation for advisors today and create pathways for the next generation of leaders to thrive," added Tim Bello, Co-Founder and Managing Partner at Merchant.
Private Advisor Group will continue to operate independently under its existing brand while drawing on both LPL and Merchant to create new opportunities for advisors.
Exact terms will not be disclosed. The agreement was signed and became effective Nov. 18, 2025. Katz Teller, Alston & Bird LLP and Ropes & Gray have provided legal counsel. Republic Capital Group and Ernst & Young consulted with Private Advisor Group on the transaction.
Learn more by visiting privateadvisorgroup.com.
About Private Advisor Group
Founded in 1997 in
Securities offered through LPL Financial LLC, Member FINRA/SIPC. Investment Advice offered through Private Advisor Group, a registered investment advisor and separate entity from LPL Financial LLC.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the
Securities and advisory services offered through LPL Financial LLC or its affiliate LPL Enterprise, LLC, both registered investment advisers and broker-dealers. Members FINRA/SIPC.
Private Advisor Group, LPL Financial Holdings Inc., LPL Financial LLC, and Merchant are separate entities.
About Merchant
Merchant is a private partnership that provides life cycle growth capital and strategic guidance to independent financial services companies, particularly those focused on wealth and asset management. Merchant's ecosystem comprises 125 partner firms and RIA practices in six countries, collectively managing more than
Media Contact:
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JConnelly
privateadvisorgroup@jconnelly.com
973 349 2959
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SOURCE Private Advisor Group
FAQ
What did Private Advisor Group announce about LPL Financial (LPLA) on Nov. 19, 2025?
How will the LPL minority investment affect Private Advisor Group advisors and services?
Will Private Advisor Group change its brand or independence after the LPL investment?
Who else owns a stake in Private Advisor Group after the LPL investment?
Are the financial terms of LPL's investment in Private Advisor Group disclosed?
When did the LPL and Private Advisor Group agreement become effective?
