LPL Financial announced the closing of its acquisition of the Private Client Group business of Boenning & Scattergood, a broker/dealer and registered investment adviser headquartered in West Conshohocken, Pa. The 108-year-old business will operate under LPL’s Linsco employee advisor affiliation model, which allows the firm to retain its brand and operations, while benefitting from LPL’s integrated advisory and brokerage platform. As a result of the transaction, approximately $4 billion of client assets are expected to onboard to LPL’s custodial platform.
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