LPL Financial Holdings (LPLA) said Tuesday it has completed the acquisition of the wealth business of the Investment Center, a broker-dealer and registered investment adviser based in New Jersey.
As of Tuesday, about $4 billion in brokerage and advisory assets have been transferred to its platform, LPL said, with another $3 billion expected over the next several months.
The deal adds 160 financial advisors to LPL's network, the company said.
LPL shares were up by nearly 1% in recent trading.
Price: 313.05, Change: +2.28, Percent Change: +0.73
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