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Ropes & Gray Advises LPL Financial in Acquisition of Waddell & Reed’s Wealth Management Business

Practices: Asset Management, Mergers & Acquisitions, Tax, Executive Compensation & Employee Benefits, Antitrust

A Ropes & Gray team advised LPL Financial Holdings Inc., a leading U.S. retail investment advisory firm, independent broker-dealer, and registered investment advisor (RIA) custodian, in its agreement with Macquarie Asset Management, the asset management division of Macquarie Group, to acquire the wealth management business of Waddell & Reed Financial, Inc. upon completion of Macquarie’s acquisition of all of the issued and outstanding common shares of Waddell & Reed. The deal was announced in a press release. 

The Ropes & Gray team was led by mergers & acquisitions and capital markets partners Tom Fraser and Marko Zatylny (both of Boston), asset management partner Brynn Rail (New York), tax partner Leo Arnaboldi (New York), antitrust partner Jonathan Klarfeld (New York) and employment & benefits partner Renata Ferrari (Boston).

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