On December 18, 2023, Independent Advisor Alliance announced a minority investment by LPL Financial.
Under the terms of the transaction, LPL Financial LLC (“LPL”) acquired a non-controlling minority interest in Independent Advisor Alliance (“IAA”). Further terms of the deal were not disclosed.
IAA, based in Charlotte, North Carolina, is a hybrid registered investment firm offering financial and retirement advisory services to individuals and businesses. As of August 2023, IAA had $11.8 billion in assets under management.
LPL (Nasdaq: LPLA), based in San Diego, California, is a financial advisory firm serving over 22,000 financial advisors, including approximately 560 registered investment advisor firms nationwide. As of November 2023, LPL had $1.3 trillion in advisory and brokerage assets.
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