LPL Financial to acquire The Investment Center, terms not disclosed

LPL Financial announced that the firm has entered into a definitive agreement to acquire The Investment Center, a broker-dealer and registered investment adviser based in Bedminster, N.J. “The Investment Center fosters an entrepreneurial approach that has driven their success in reaching nearly $9 billion in assets,” said Rich Steinmeier, managing director and chief growth officer at LPL Financial. “By bringing The Investment Center’s 240 high-performing advisors to LPL, we look forward to serving their thriving businesses and providing them our industry-leading service and technology.” The Investment Center was founded in 1986 to provide back-office support services, investment tools, technology and a broad selection of non-proprietary products to a national network of independent financial advisors. The Investment Center shares LPL’s advisor-first philosophy, and its emphasis on independence has been key to its growth. The Investment Center and LPL were introduced as part of LPL’s planned acquisition of Atria Wealth Solutions, Inc., which was announced earlier this year. LPL expects to close and convert the acquisition of The Investment Center in the first half of 2025, subject to receipt of regulatory approval and other conditions.