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Announced

Completed

LPL Financial completed the acquisition of the wealth management business of Waddell & Reed Financial for $300m.

Financials

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Transaction Value£216m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Disposal

Private

Single Bidder

Friendly

United States

Asset Managers and Custodians

wealth management

Majority

Domestic

Completed

Synopsis

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LPL Financial, a provider of investment and business solutions for independent financial advisors, completed the acquisition of the wealth management business of Waddell & Reed Financial, an American asset management and financial planning company, for $300m. “Waddell & Reed advisors are seasoned and well-regarded throughout the industry and are a strong cultural and strategic fit with us. We look forward to supporting them with our comprehensive platform that helps them design and operate the perfect practice for them and their clients. Waddell & Reed and Macquarie have been strong partners throughout the process, and we look forward to our ongoing collaboration,” Dan Arnold, LPL Financial President and CEO.

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