LPL Financial Closes Acquisition of The Investment Center, Inc.

Core Viewpoint - LPL Financial has successfully acquired the wealth business of The Investment Center, enhancing its advisor network and service capabilities [1][2]. Group 1: Acquisition Details - The acquisition includes approximately $4 billion of brokerage and advisory assets onboarded to LPL, with an additional $3 billion expected to onboard in the coming months [2]. - The Investment Center, founded in 1986, operates as an independent broker-dealer providing support services and investment tools to over 160 independent financial advisors [3]. Group 2: Company Profiles - LPL Financial is a leading wealth management firm in the U.S., supporting nearly 29,000 financial advisors and managing approximately $1.7 trillion in assets for around 6 million Americans [4]. - The Investment Center is registered to conduct securities business in all 50 states and is a member of FINRA and SIPC, emphasizing its compliance and regulatory standing [3].