LPL Financial Strengthens Ties Through Minority Investment in Private Advisor Group

LPL Financial's Minority Investment in Private Advisor Group

In a significant move, Private Advisor Group, recognized as a leader in financial services, has announced that LPL Financial Holdings Inc. has acquired a minority ownership stake in the firm. This collaboration is expected to deepen the strategic relationship between the two organizations, fostering innovation and growth within the wealth management sector.

The partnership, effective since November 18, 2025, paves the way for enhanced resources and support for advisors. By joining forces with LPL Financial, one of the fastest-growing wealth management firms in the United States, Private Advisor Group aims to bolster its service offerings, providing advisors with increased tools for practice management and succession planning.-

According to Frank Smith, the CEO of Private Advisor Group, LPL aligns naturally with their core beliefs about empowering advisors. "At Private Advisor Group, we are committed to offering advisors choices and pathways to thrive. Our shared history with LPL reinforces our mutual goal of advocating for advisors and shaping the industry's future," he stated.

Marc Cohen, the Chief Growth Officer at LPL, expressed excitement about strengthening ties with Private Advisor Group, noting that their collaboration is built on a longstanding foundation of shared values. The duo aims to better support advisors throughout their careers by providing innovative solutions tailored to industry demands.

In recent years, Private Advisor Group has made substantial investments into its infrastructure, including tools such as the Alignment Equity Program and the WealthSuite investment management platform. These initiatives are designed to empower financial advisors, helping them enhance client services and grow their businesses effectively.

LPL's entry into Private Advisor Group's ownership structure, along with Merchant Investment Management, diversifies the firm’s ownership base and reinforces its commitment to nurturing the advisor community. This collaboration aims not just at supporting current advisors but also at paving new avenues for upcoming leaders in the financial advisory space.

Tim Bello, Co-Founder and Managing Partner at Merchant, highlighted the impact of this partnership. He noted that combining the entrepreneurial spirit of Private Advisor Group with Merchant's growth-oriented support and LPL's expansive scale creates a robust foundation that will benefit current and future advisors.

As the partnership evolves, Private Advisor Group will operate independently while leveraging resources from both LPL and Merchant to unlock new opportunities for its advisor community. This strategic alignment seeks to enhance the overall service landscape for financial advisors, ensuring they remain competitive in a rapidly evolving market.

The details of the investment agreement have not been publicly disclosed. Legal counsel for the transaction was provided by Katz Teller, Alston Bird LLP, and Ropes Gray, while Republic Capital Group and Ernst Young offered advisory support to Private Advisor Group for the transaction.

About the Companies

Private Advisor Group: Founded in 1997 and based in Morristown, NJ, Private Advisor Group is among the nation's top financial services firms, managing over $41.3 billion in assets as of June 30, 2025. The firm specializes in creating financial strategies that encourage growth, fiduciary adherence, and a client-focused approach for independent advisors.

LPL Financial Holdings Inc.: As one of the fastest-growing wealth management firms in the U.S., LPL supports over 32,000 financial advisors, offering a broad array of resources designed to facilitate successful financial practices. With approximately $2.3 trillion in brokerage and advisory assets, LPL continues to enhance its service models and technology offerings for independent financial advisors and institutions.

Merchant: Merchant operates as a private partnership providing growth capital and strategic direction to independent financial firms. With a global footprint encompassing 125 partner firms managing over $300 billion in assets, Merchant is committed to fostering innovation and growth within the financial services sector.

For those interested in learning more about Private Advisor Group, visit privateadvisorgroup.com.