Ropes & Gray Represents LPL Financial LLC in Acquisition of Independent Broker-Dealer Network of National Planning Holdings, Inc.
Ropes & Gray represented LPL Financial LLC, a leading retail investment advisory firm and independent broker/dealer in its acquisition of the independent broker-dealer network of National Planning Holdings, Inc.
The transaction is structured as an asset purchase with an initial purchase price of $325 million. LPL Financial will also make a contingent payment between $0 and $123 million in the first half of 2018, based on the level of National Planning Holdings’ business that onboards to LPL Financial’s platform. The transaction was signed and closed on August 15, 2017 following receipt of regulatory approval.
The Ropes & Gray team included private equity partner Taylor Hart, securities & public companies partner Marko Zatylny, tax partner Aaron Harsh and benefits partner Renata Ferrari.