Republic Capital Group Advises Private Advisor Group on its Minority Investment by LPL Financial

Rhea-AI Summary

Private Advisor Group (AUM $41.3 billion) announced that LPL Financial (Nasdaq: LPLA) acquired a minority ownership stake, strengthening a nearly three‑decade relationship and broadening the firm's ownership alongside Merchant Investment Management and six legacy shareholders.

Announced on November 20, 2025, the investment is positioned to support advisor growth, innovation, practice management, business continuity, succession planning, and operational excellence while Private Advisor Group continues to operate independently under its brand.

Positive

• LPL minority investment announced on November 20, 2025
• Private Advisor Group AUM of $41.3 billion
• Private Advisor Group to remain independent under its established brand

Negative

• None.

News Market Reaction

-3.79%

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-3.79% News Effect

On the day this news was published, LPLA declined 3.79%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK and MORRISTOWN, N.J., Nov. 20, 2025 /PRNewswire/ -- Republic Capital Group ("Republic"), a leading investment bank specializing in strategic and financial advisory services for wealth and asset management firms and their clients, today announced that it served as the investment banking advisor to Private Advisor Group, with $41.3 billion in AUM, as LPL Financial Holdings Inc. (Nasdaq: LPLA) (together with its subsidiaries, including LPL Financial LLC, "LPL Financial" or "LPL") acquires a minority ownership stake, marking a new chapter in their nearly three-decade relationship. The investment strengthens the strategic ties between the organizations and supports Private Advisor Group's long-term strategy of driving advisor growth, innovation, enhanced service, and operational excellence.

With LPL joining Merchant Investment Management ("Merchant") as a minority owner, alongside six legacy shareholders, Private Advisor Group broadens its ownership structure in a way that reinforces stability while enhancing the firm's ability to meet the evolving needs of its advisor community and their clients. The collaboration among the firms includes plans to expand programs and resources across areas such as practice management, business continuity, and succession planning—critical components in helping advisors build enduring enterprises.

Adam Schorr, Chief Financial Officer at Private Advisor Group shared, "Republic Capital Group has continually demonstrated strong due diligence and sound guidance. Their disciplined approach aligns well with our philosophy of making informed, well-supported decisions on behalf of the advisors we serve."

John Langston, Founder and CEO at Republic said, "Congratulations to the Private Advisor Group leadership team on achieving this significant event with LPL!  This alignment positions both firms to achieve much more in the days ahead."  

"It has been an honor to have served as advisors to Private Advisor Group to achieve this successful outcome with LPL. This is a milestone event in the industry, and we look forward to seeing their continued success with this partnership.", said Blake Cargill, Partner and Managing Director at Republic.

Over the past several years—and particularly since partnering with Merchant in 2021— Private Advisor Group has increased its investment in technology, talent, and operational infrastructure, reflecting its advisor-first philosophy. These efforts include initiatives that create a more robust platform for financial advisors seeking both growth and long-term sustainability.

Private Advisor Group will continue to operate as an independent firm under its established brand, while drawing on the complementary strengths of LPL and Merchant to unlock future opportunities and expand support for its advisor community.

About Republic Capital Group:
Republic Capital Group, led by CEO and Founder John Langston, specializes in providing investment banking services to the RIA, asset, and wealth management communities and their clients. Republic partners with firms at the forefront of M&A activity and active participants in the transformation of the industry. Republic is headquartered in New York, with locations in Dallas, Chicago, San Antonio, Houston, Orlando, and West Palm Beach. 

For more information, please visit  republiccg.com  and follow Republic Capital Group on LinkedIn.

Media Contact:
Carrie Massey

cmassey@republiccg.com

Private Advisor Group's $ 41.3 Billion in AUM refers to assets under management as of June 30, 2025.

Republic Capital Group Holdings, LLC ("RCG") member of FINRA/SIPC.

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SOURCE Republic Capital Group

FAQ

What did Private Advisor Group announce on November 20, 2025 regarding LPL (LPLA)?

Private Advisor Group announced that LPL Financial (Nasdaq: LPLA) acquired a minority ownership stake on November 20, 2025.

How much assets under management does Private Advisor Group have after the LPL minority investment?

Private Advisor Group reported $41.3 billion in assets under management.

Will Private Advisor Group remain independent after the LPL (LPLA) investment?

Yes. Private Advisor Group will continue to operate as an independent firm under its established brand.

Who joins Private Advisor Group's ownership alongside LPL (LPLA)?

LPL joins Merchant Investment Management and six legacy shareholders as minority owners.

What strategic areas will the LPL and Private Advisor Group collaboration focus on?

The collaboration includes plans to expand programs in practice management, business continuity, and succession planning.

How does Republic Capital Group describe its role in the LPL‑Private Advisor Group transaction?

Republic Capital Group served as the investment banking advisor to Private Advisor Group for the minority investment by LPL.