LPL Financial Holdings has entered into a definitive purchase agreement to acquire Commonwealth Financial Network.
Since its founding in 1979, Commonwealth, headquartered in Waltham, Mass., has managed approximately $285 billion of brokerage and advisory assets.
“Commonwealth is respected throughout our industry as a standard-bearer for service excellence, and their commitment to the success of their advisers is embedded in all aspects of their business,” said Rich Steinmeier, LPL Financial CEO. “A complement to LPL’s client-centric culture, Commonwealth’s service philosophy enhances the value we’ll collectively bring to all advisers across the LPL network. In addition, LPL’s advanced technology, intuitive business solutions and breadth of wealth management offerings unlock boundless potential for Commonwealth advisers and the clients they serve.”
“As we’ve grown our business over the past 46 years, Commonwealth has placed a premium on delive
