LPL Financial Acquires Altria Wealth Solutions, Appoints New CEO [Yahoo! Finance]
LPL Financial Holdings Inc. (LPLA)
Last lpl financial holdings inc. earnings: 4/30 04:05 pm
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Source: Yahoo! Finance
LPL Financial Holdings LPLA, along with its subsidiaries LPL Financial LLC, has completed the acquisition of Altria Wealth Solutions, Inc. (“Altria”). Further, the company announced a change in its leadership with the termination of its existing president and chief executive officer (CEO) and the appointment of a new CEO. Details of Acquisition Pursued by LPLA Atria Wealth Solutions, Inc., based in New York, boasts a network of almost 2,400 advisors and serves around 150 banks and credit unions, managing an impressive $100 billion in brokerage and advisory assets. Notably, brokerage accounts comprise nearly 80% of the firm's assets, with the rest in advisory holdings. Per the acquisition announcement dated Feb. 13, 2024, LPLA expected onboarding and integration costs to be between $300 million and $350 million. Despite these expenses, the long-term financial projections are promising, with LPLA anticipating additional earnings of $140 million annually from the deal. LPL Finan
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LPLA
News
- LPL Financial Holdings Inc. (NASDAQ: LPLA) had its price target lowered by analysts at Jefferies Financial Group Inc. from $309.00 to $282.00. They now have a "buy" rating on the stock.MarketBeat
- Employers added 254,000 jobs in September, blowing away forecasts [CBS News]CBS News
- Here's where the jobs are for September 2024 — in one chart [CNBC]CNBC
- LPL Financial Welcomes The Noble GroupGlobeNewswire
- LPL Financial stock may be volatile short term, but management is solid, analysts say [Seeking Alpha]Seeking Alpha
LPLA
Earnings
- 7/25/24 - Beat
LPLA
Sec Filings
- 10/1/24 - Form 8-K
- 9/16/24 - Form 4
- 8/27/24 - Form 4
- LPLA's page on the SEC website