LPL Financial, the nation’s largest independent broker-dealer, has retained Trilogy Financial, a privately held financial planning firm affiliated with National Planning Corp. with more than $2 billion in client assets under management.
LPL recently announced plans to purchase independent broker-dealer network of National Planning Holdings, which includes NPC, for an initial purchase price of $325 million, as well as a contingent payment between $0 and $123 million in the first half of 2018 depending on the level of NPH’s business that onboards onto LPL’s platform.
Following the announcement of NPH’s acquisition, Trilogy said that it conducted “comprehensive due-diligence” to determine whether it would transition to LPL Financial or move to another broker-dealer. The Trilogy leadership team vetted nearly a dozen broker-dealer options, both large and small, before coming to a decision.
“LPL Financial’s commitment to Trilogy’s business model coupled with its forward-thinking perspective on compliance integration, technology, marketing and long-term growth solidified our decision that the broker-dealer is the right long-term partner for Trilogy,” said Motske. “We are confident that this decision will provide a smooth transition in the short-term for clients, as well as incredible long-term opportunities for our clients, advisors and entire Trilogy family as we continue to grow.”
Founded in 1999, Trilogy Financial Services is headquartered in Huntington Beach, California and has more than 150 advisors in 10 offices throughout the United States. TrilogyCapital is the firm’s independent registered investment advisor.
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), offers a platform of proprietary technology, brokerage and investment advisory services to more than 14,000 financial advisors and approximately 700 financial institutions nationwide. LPL Financial oversees approximately $551 billion in brokerage and advisory assets as of Aug. 31, 2017.