On March 31, 2025, LPL Financial announced its definitive agreement to acquire Commonwealth Financial Network.
LPL Financial LLC (“LPL”) announced, on March 31, 2025, its definitive agreement to acquire Commonwealth Financial Network (“Commonwealth”). Commonwealth Chief Executive Officer Wayne Bloom will join LPL’s management committee and will continue to lead Commonwealth. The transaction is expected to close in the second half of 2025 for a purchase price of approximately $2.7 billion in cash. Further terms of the transaction were not disclosed.
LPL, headquartered in San Diego, California, is a registered investment advisor and wealth management firm that is a subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA). As of April 2025, LPL Financial had over $618.9 billion in assets under management. Morgan Stanley & Co. LLC is acting as exclusive financial advisor to LPL.
Commonwealth, based in Waltham, Massachusetts, is a registered investment advisor and broker/dealer that provides solutions, resources, and support to independent financial advisors. As of December 31, 2024, Commonwealth had approximately $285 billion in brokerage and advisory assets. Goldman Sachs & Co. LLC is acting as exclusive financial advisor to Commonwealth.
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