LPL Financial Holdings Inc. (LPLA), Tuesday announced that it has agreed to acquire Atria Wealth Solutions Inc., a wealth management solutions holding company.
The financial details of the transaction have not been disclosed.
Under the agreement, Atria will transition approximately $100 billion in brokerage and advisory assets to the LPL platform.
The financial services company intends to close the transaction in the second half of 2024, while the conversion is expected to be completed in mid-2025.
Currently, LPL's stock is trading at $262.50, up 4.40 percent on the Nasdaq.
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