LPLA to Buy Commonwealth Financial, Boost Wealth Management Offerings

Waltham, MA-based Commonwealth Financial, founded in 1979, is the largest independently owned wealth management firm in the United States. It offers integrated business solutions and services for roughly 2,900 financial advisors. As of Dec. 31, 2024, it had roughly $285 billion in assets under management (AUM) and client cash sweep balances of about$6 billion. LPL Financial Holdings Inc. (LPLA) entered into a definitive merger agreement to acquire Commonwealth Financial Network. The all-cash transaction is ...