LPL Financial To Acquire Atria Wealth Solutions; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
LPL Financial Holdings Inc. (LPLA) announced its agreement to acquire Atria Wealth Solutions, a wealth management company managing about $100 billion in assets. The acquisition aims to enhance LPL's offerings and expand its advisor and institutional network. Atria's assets will transition to the LPL platform, with the deal expected to close in the second half of 2024. Financial terms were not disclosed. Morgan Stanley & Co. LLC and Allen & Overy LLP are advising LPL, while Ardea Partners LP, Ropes & Gray LLP, and William Blair & Company, LLC are advising Atria.
February 13, 2024 | 1:41 pm
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LPL Financial Holdings Inc. is acquiring Atria Wealth Solutions to expand its wealth management services and advisor network. The acquisition, expected to close in the second half of 2024, will bring approximately $100 billion of brokerage and advisory assets to LPL.
The acquisition of Atria Wealth Solutions is likely to have a positive short-term impact on LPLA's stock price due to the significant addition of assets under management and the expansion of its advisor network. This strategic move is expected to enhance LPL's market position and service offerings, potentially leading to increased revenue and profitability.
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