Trade Boston Private Financial Holdings
LPL Financial Holdings, Inc. (commonly referred to as LPL Financial) was founded in 1989 and is considered the largest independent trader broker in the United States. As of 2021, the company had more than 17,200 financial advisors, more than $903 billion in consulting and brokerage assets, and generated nearly $5.9 billion in annual revenue for fiscal year 2020. LPL Financial was founded in 1989 through the merger of two brokerage firms - Linsco (founded in 1968) and Private Ledger (founded in 1973) - and has since expanded the number of independent financial advisors both organically and through acquisitions. LPL Finance has major offices in Boston, Fort Mill, Austin, and San Diego. The company is a member of FINRA and SIPC. LPL's subsidiaries are LPL Financial LLC, LPL Insurance Associates, Inc., Fortigent, LLC, and Private Trust Company, N.A. on December 3, 2018, LPL Financial Holdings Inc. reported its acquisition of AdvisoryWorld, a technology company and leading provider of digital solutions serving the wealth management industry. LPL Financial Advisors will access solutions from AdvisoryWorld at no cost, and AdvisoryWorld products will still be available for purchase as a standalone product. AdvisoryWorld offers a range of tools designed to help advisors attract and retain more assets, and to shift expectations to customers with existing customer service using advanced analytics and modeling. The company was founded in 1987 and its products include generating suggestions, portfolio analytics, investments and portfolio modeling capabilities. On August 18, 2020, LPL Financial Holdings Inc. announced its purchase of E.K. Riley Investments, LLC, a brokerage firm and trader A registered investment advisor (RIA) based in Seattle. E.K. Riley served more than $2 billion of customer assets and nearly 90% of its advisers expected to join the LPL. LPL still expects multiple transactions of ~6x EBITDA earnings before synergy. On August 20, 2020, LPL Financial Holdings Inc. reported that it had completed the purchase of San Diego-based Lucia Securities Properties, a broker-trader and registered investment advisor (RIA). The transaction was arranged as a property acquisition, which was completed on August 18, 2020. LPL is beginning to expect a maximum ~6x EBITDA post-synergy deal. On October 27, 2020, LPL Financial Holdings Inc. announced its acquisition of Blaze Portfolio, a Chicago-based financial technology company founded in 2010. LPL will continue to offer fire portfolio services as a stand-alone product, as well as bringing trading capabilities to all LPL financial advisors. The transaction was signed and closed on October 26, 2020. LPL Financial paid approximately $12 million and agreed to a possible payment of up to $5 million in unit payments, subject to milestones and usual adjustments in purchase prices.