LPL Financial Holdings To Acquire Commonwealth Financial Network For $2.7B In Cash — Retail Turns Neutral
LPL Financial also announced that it has commenced an underwritten public offering of $1.5 billion of its common stock.
Wealth management company LPL Financial Holdings Inc. (LPLA) announced on Monday that it will acquire integrated business solutions and services provider Commonwealth Financial Network for $2.7 billion in cash.
LPL expects to finance the transaction through a combination of corporate cash, debt, and equity.
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The company anticipates closing the transaction in the second half of 2025 and completing the conversion to the LPL platform in mid-2026.
LPL Financial said Commonwealth CEO Wayne Bloom will join LPL’s Management Committee and continue leading the Commonwealth community and their advisor experience.
“He will also partner with the LPL leadership team to launch LPL’s Office of Advisor Advocacy, charged with further elevating the service experience for LPL’s growing network of advisors,” the company said.
LPL Financial CEO Rich Steinmeier said that Commonwealth Financial Network complements LPL’s client-centric culture, and its service philosophy enhances the value collectively brought to all advisors across the LPL network.
“In addition, LPL’s advanced technology, intuitive business solutions, and breadth of wealth management offerings unlock boundless potential for Commonwealth Advisors and the clients they serve,” he added.
LPL Financial said it would also consider opportunities to bring the Commonwealth advisor experience into the broader LPL ecosystem.
LPL Financial also announced that it has commenced an underwritten public offering of $1.5 billion of its common stock. The company intends to use the net proceeds of the offering to fund a portion of the cash consideration payable in connection with the proposed acquisition of Commonwealth Financial Network.
Meanwhile, on Stocktwits, retail sentiment inched lower into the ‘neutral’ territory (51/100) from ‘bullish’ a day ago.
Recently, the company’s subsidiary LPL Financial released its monthly activity report for February 2025.
The company reported total advisory and brokerage assets of $1.82 trillion, marking an increase of $11.3 billion, or 0.6%, compared to the end of January 2025.
The total net new assets for the month were $24.5 billion, including $0.7 billion of acquired net new assets.
LPL Financial Holdings shares traded over 3% lower on Monday, aligning with the broader market sell-off as Wall Street awaited Trump’s tariff rollouts.
LPLA shares have lost 0.63% in 2025 but are up over 22% in the past 12 months.
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