LPL Financial announces it is open for adviser acquisitions

On Tuesday, 07 May 2019 LPL Financial announced that it is open to financing its affiliate advisers if they wish to grow and expand.

Since the start of 2019, LPL Financial has raised the issue with advisers at conferences many times and has increasingly been willing to discuss funding deals for practices with financing done in-house.

According to several executives at LPL, hey said that the firm has always had the ability to assist advisers in financing acquisitions, however, now, the largest broker-dealer for independent firms with 16,189 financial advisers has decided to be more assertive.

In a statement, Richard Steinmeier, managing director and head of business said, “What’s new for us is an increased willingness for us.”

Steinmeier further added, “We’ve always done financing in terms of acquisitions. If an adviser is buying a practice, this is providing the loan to buy it.”

According to Gregory Cornick, executive vice president, treasurer, corporate development in LPL, the financing deals are of three varieties.


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