LPL Financial Holdings Inc. (LPLA), Monday announced the agreement to fully acquire Commonwealth Financial Network, a wealth management firm, for a purchase price of about $2.7 billion.
Upon the completion of the transaction, Commonwealth is expected to enhance LPL's services with its advanced technology, intuitive business solutions and breadth of wealth management offerings.
The company plans to finance the transaction through a combination of corporate cash, debt and equity.
The transaction is expected to close in the second half of 2025, and the conversion to the LPL platform is expected to be completed in mid-2026.
In the pre-market hours, LPL's stock is trading at $334.80, down 0.62 percent on the Nasdaq.
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