LPL Financial Holdings Inc. LPLA, along with its subsidiaries, including LPL Financial LLC and LPL Capital Partners, has announced a major step to grow its advisor network by entering into an agreement to acquire the Mariner Advisor Network, a part of Mariner.
The transaction is being executed by LPL Financial in partnership with Private Advisor Group LLC. As part of the deal, Private Advisor Group will take over the hybrid advisors from the Mariner Advisor Network and move them onto its hybrid Registered Investment Advisor (RIA) platform.
LPL Financial holds a minority equity stake in Private Advisor Group and serves as the firm’s primary custodian and broker-dealer.
LPL-Mariner-Private Advisor Deal to Expand Reach & Scale
Mariner Advisor Network brings significant scale and value, adding 367 financial advisors who collectively manage $31 billion in client assets. Of these, 223 advisors will remain with LPL Financial, continuing on its platform without disruption.
The remaining 144 hybrid advisors will move to Private Advisor Group’s hybrid RIA model, where they will continue using the same LPL Financial platform and maintain their multi-custodian relationships.
Strategic Rationale of the LPL-Mariner-Private Advisor Deal
This planned acquisition will align with LPL Financial’s broader strategy of building a supported independence model by expanding its advisor base. It allows advisors to access advanced technology, compliance support and a wide range of wealth management solutions. The company is also strengthening its presence in the hybrid advisory space through its partnership with Private Advisor Group.
Marc Cohen, group managing director and chief growth officer, LPL Financial, said, “We recognized an opportunity to deepen our relationship with the advisors affiliated with the Mariner Advisor Network by welcoming them into our growing supported independence community, one built on collaboration and a commitment to advisor success.”
Through this deal, Private Advisor Group is also expanding its hybrid advisors’ network and increasing its scale in the hybrid RIA space. In addition, it also strengthens its multi-custodian platform.
For Mariner, the deal ensures continuity for its advisors and clients and aligns them with a larger platform like LPL Financial. It also helps Mariner streamline its business and support the long-term success of its advisor network.
Marty Bicknell, CEO and President of Mariner, said, “This is an ideal outcome for these advisors, enabling them to broaden their relationship with LPL while maintaining stability and continuity for the clients they serve.”
LPLA’s Price Performance & Zacks Rank
In the past three months, LPLA shares have lost 14.9% compared with the industry’s decline of 2.4%.
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Currently, LPL Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Acquisitions by Some Other Finance Companies
Last week, Capital One Financial Corporation COF completed its previously announced acquisition of Brex after securing all required customary regulatory approvals and closing conditions. The acquisition significantly strengthens Capital One’s strategic expansion into the business payments and AI-driven financial software space.
Brex is a leading AI-native financial platform that integrates corporate cards, expense management software and banking services into a single ecosystem. Its platform leverages AI to automate workflows, streamline expense reviews and enable secure, real-time payments for businesses.
In another development this month, Franklin Resources, Inc. BEN is set to deepen its presence in digital assets. The company announced plans to acquire 250 Digital, an active cryptocurrency investment management firm spun out of CoinFund. The acquisition includes 250 Digital’s investment team and its liquid cryptocurrency strategies, marking a strategic step toward expanding the company’s digital asset platform.
Franklin Resources is launching a dedicated unit, Franklin Crypto, to scale its institutional digital asset capabilities. Following the deal closure, the new unit will integrate crypto-native investment expertise with its global distribution network to target institutional investors across the rapidly expanding digital asset market.
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Franklin Resources, Inc. (BEN): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).