On September 4, 2024, LPL Financial LLC announced it had entered into a definitive agreement to acquire Seward & Kissel client, The Investment Center, Inc.
LPL Financial LLC (NASDAQ: LPLA) (“LPL”) announced that it had entered into a definitive agreement to acquire The Investment Center, Inc. (“The Investment Center”).
LPL, based in San Diego, is an independent broker-dealer that buys and sells financial products for clients, such as mutual funds and domestic and international securities. As of September 2023, had $1.24 trillion in assets under management.
The Investment Center, based in Bedminster, New Jersey, is an independent broker-dealer founded in 1986 with the purpose of providing back-office support services, investment tools, technology, and a broad selection of non-proprietary products to a network of more than 240 independent financial advisors in offices across the nation. As of September 2024, The Investment Center had $11.1 billion in assets under management. A Seward & Kissel team led by partners Jim Abbott, Michael Watling, James Cofer, Patricia Poglinco, David Baron, Counsel Michael O’Brien and associates Noga Benmor-Piltch, Sean Flynn, Elyse Moy and Grace Dahlstrom is representing The Investment Center in connection with this transaction.
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