LPL Financial Holdings has acquired a minority ownership stake in Private Advisor Group, a financial services firm. This agreement will deepen Private Advisor Group's alignment with one of the fastest-growing wealth management firms in the United States, enabling the firm to fuel innovation and accelerate adviser growth and engagement. As part of this effort, the firms will expand resources for practice management and succession planning to help advisers strengthen and sustain their businesses over the long term.
Further diversifying ownership, LPL joins Merchant Investment Management as a minority owner of Private Advisor Group alongside legacy shareholders, reinforcing the firm's foundation to better serve its adviser community and their clients for years to come.
Powered by an adviser-first mindset, Private Advisor Group has been actively developing resources and solutions for its growing community. Since the firm's partnership with Merchant in 2021, Private Advisor
