LPL Financial Retains $1.2 Billion Super OSJ
LPL Financial has retained super OSJ, Advisors Southeastern Alliance, a $1.2 billion firm affiliated with Invest Financial Corporation based in the Atlanta suburb of Duluth, Georgia and has 70 advisors on its roster.
LPL Financial, the nation’s largest independent broker-dealer, has retained super OSJ, Advisors Southeastern Alliance, a $1.2 billion firm affiliated with Invest Financial Corporation. Advisors Southeastern Alliance is based in the Atlanta suburb of Duluth, Georgia and has 70 advisors on its roster.
Invest Financial is one of four broker-dealer firms in the National Planning Holdings network, which LPL purchased last summer. The NPH network also includes Investment Centers of America, National Planning Corporation, and SII Investments.
Last month, LPL added a number of large NPH affiliated firms, including The Planners Network which oversees $4.3 billion of client brokerage and advisory assets, Discovery Financial with $1.1 billion, Trilogy Financial with more than $2 billion, and Zuk Financial Group with approximately $1.6 billion.
LPL paid an initial $325 million for the NPH network, and will make a contingent payment of up to $123 million in the first half of 2018, based on the level of NPH’s business that onboards onto its platform.
LPL Financial is a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA) and oversees approximately $566 billion in brokerage and advisory assets as of October 31, 2017. The company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 financial advisors and 700 financial institutions.
