LPL Financial buys NPH, a broker-dealer network with 3,200 advisers
August 15, 2017 | Bruce Kelly | Investment News
After weeks of speculation, LPL Financial said on Tuesday it had completed the purchase of National Planning Holdings Inc., an independent broker-dealer network with 3,200 advisers.
The deal is structured as an asset purchase with an initial price of $325 million. LPL will also make a contingent payment of up to $123 million in the first half of next year that depends on the level of advisers and revenue that eventually move to LPL, the company said in a statement.
No contingency payment would be due if less than 72% of NPH’s production is moved to LPL, according to the company.
