LPL Financial Holdings Inc. entered into a definitive purchase agreement to acquire Atria Wealth Solutions, Inc. for $1.04 billion.
February 12, 2024
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LPL Financial Holdings Inc. (NasdaqGS:LPLA) entered into a definitive purchase agreement to acquire Atria Wealth Solutions, Inc. for $1.04 billion on February 12, 2024. Transaction structured as an equity purchase with an upfront price of approximately $805 million and potential earn-outs of approximately $0 million to $230 million are based on retention ranging from 80% to 100%. LPL anticipates financing this transaction through a combination of cash and debt. As part of the agreement, Atria will transition its brokerage and advisory assets currently custodied with its network of broker-dealers to the LPL platform. Transaction is subject to receipt of regulatory approval and other conditions and is expected to close in the second half of 2024. Conversion is expected to be completed in mid-2025.
Morgan Stanley & Co. LLC acted as a financial advisor and Allen & Overy LLP acted as a legal counsel to LPL. Ardea Partners LP acted as a lead financial advisor, William Blair & Company, LLC acted as financial advisor and Ropes & Gray LLP acted as a legal counsel to Atria.
LPL Financial Holdings Inc. is an independent broker-dealer and an investment advisory firm company. The Company offers an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises (collectively, advisors) in the United States. Through its comprehensive platform, it offers integrated technology solutions; brokerage and advisory platforms; clearing, compliance, business and planning and advice services; consultative practice management programs and training, and in-house research. Through its custody and clearing platform, using both proprietary and third-party technology, the Company offers access to diversified financial products and services, enabling its advisors to offer personalized financial advice and brokerage services to retail investors. Its products include alternative investments, annuities, exchange-traded products, insurance-based products, mutual funds, and retirement plan products.
LPL FINANCIAL HOLDINGS INC. 
