LPL Closes $100B AUM Atria Wealth Acquisition

LPL Financial has officially closed its acquisition of New-York based Atria Wealth Solutions in a landmark deal that will integrate roughly 2,400 Atria advisors into LPL’s platforms.

According to an October 2 press release, the mammoth broker-dealer and RIA will formally begin to absorb Atria’s advisors from its independent brokerage subsidiaries into the current pool of over 23,000 LPL-affiliated advisors. LPL expects to exceed or retain at least 80% of Atria advisors in the transition process, which it expects to complete by the middle of 2025.

The announcement concludes a transaction that was first announced in February. Morgan Stanley served as financial advisor to LPL, while A&O Shearman provided legal counsel. For Atria, Ardea Partners LP acted as lead financial advisor, with additional financial advice from William Blair & Company, while Ropes & Gray LLP served as legal counsel.

Atria’s acquisition will represent nearly $100B of AUM in LPL’s total advisory and brokerage assets of $1.56T as of the end of August, per LPL’s latest monthly activity report.

View the press release here.