Announced
Completed
Financials
Tags
Acquisition
Disposal
Private
Single Bidder
Friendly
United States
Asset Managers and Custodians
wealth management
Majority
Domestic
Completed
Synopsis
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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