LPL Financial announced that the firm has entered into a definitive agreement to acquire The Investment Center, a broker-dealer and registered investment adviser based in Bedminster, New Jersey.
The Investment Center was launched in 1986 to provide back-office support services, investment tools, technology and a broad selection of non-proprietary products to a national network of independent financial advisors. And The Investment Center shares LPL’s advisor-first philosophy, and its emphasis on independence has been key to its growth.
The Investment Center and LPL were introduced as part of LPL’s planned acquisition of Atria Wealth Solutions – which was announced earlier this year. And LPL expects to close and convert the acquisition of The Investment Center in the first half of 2025, subject to receipt of regulatory approval and other conditions.
Berkshire Global Advisors is acting as lead financial advisor to The Investment Center, with Seward & Kissel serving as The Investment Center’s legal counsel.
KEY QUOTES:
“The Investment Center fosters an entrepreneurial approach that has driven their success in reaching nearly $9 billion in assets. By bringing The Investment Center’s 240 high-performing advisors to LPL, we look forward to serving their thriving businesses and providing them our industry-leading service and technology.”
– Rich Steinmeier, managing director and chief growth officer at LPL Financial
“LPL’s commitment to the success of its advisors aligns with our core values and dedication to service. This acquisition is a milestone that reflects our commitment to excellence over the past 35 years. At The Investment Center, we have always prioritized the success and empowerment of our advisors, and through LPL Financial, we will enhance our ability to support them with access to even more robust resources and solutions.”
– Ralph DeVito, president and chief executive officer at The Investment Center
