On August 18, 2020, LPL Financial Holdings Inc. announced the acquisition of E.K. Riley Investments, LLC.
Under the terms of the transaction, which closed August 18, 2020, LPL Financial Holdings Inc. (“LPL”) acquired E.K. Riley Investments, LLC (“E.K. Riley”). The deal was structured as an asset purchase. Most of E.K. Riley’s independent advisors are expected to join LPL. Further terms of the deal were not disclosed.
LPL, based in Boston (Nasdaq: LPLA), is a retail investment advisory firm, independent broker-dealer and registered investment advisor custodian.
E.K. Riley, based in Seattle, is a broker-dealer and registered investment advisor. E.K. Riley had more than $2 billion in client assets.
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