LPL buys Prudential's US broker-dealer network for up to $448M
August 17, 2017
Brokerage | El Segundo, CA | Corporate Acquisition
LPL Financial has acquired the US-based independent broker-dealer network of Prudential subsidiary National Planning. The deal includes a $325 million price up front, a figure that could go as high as $448 million following the transition of NPH's financial advisors and clients to LPL. Shares of LPL (NASDAQ: LPLA) gained 3% Wednesday.