LPL Financial announced it had closed its acquisition of Crown Capital Securities, L.P., a full-service broker-dealer and registered investment advisor (RIA) based in Orange County, California.
As of May 8, 2024, approximately 125 advisors had onboarded about $1.3 billion of brokerage and advisory assets to LPL. The remaining roughly $3.7 billion assets are expected to be onboarded over the next few months.
KEY QUOTES:
“We continue to be impressed with Crown Capital’s growth mindset and deep commitment to the value of independence for financial advisors. Through LPL’s advisor-first focus and by leveraging our innovative platform and specialized services, the high-performing advisors at Crown Capital Securities are even better positioned to scale their thriving businesses.”
– Rich Steinmeier, LPL Financial managing director and divisional president, Business Strategy & Growth
“Since the inception of Crown Capital Securities, our ambition has been to offer best-in-class experiences to our advisors built upon our unique family culture and their clients while sustainably growing our business for the future. Through LPL, we can take both goals to the next level. I am extremely proud of our accomplishments and am excited about this next chapter of our journey.”
– Jonathan L. French, Crown Capital president and chief marketing officer
