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LPL Financial buys NPH, a broker-dealer network with 3,200 advisers

August 16, 2017

LPL Financial buys NPH, a broker-dealer network with 3,200 advisers

August 15, 2017 | Bruce Kelly | Investment News

ARTICLE-LPL

After weeks of speculation, LPL Financial said on Tuesday it had completed the purchase of National Planning Holdings Inc., an independent broker-dealer network with 3,200 advisers.

The deal is structured as an asset purchase with an initial price of $325 million. LPL will also make a contingent payment of up to $123 million in the first half of next year that depends on the level of advisers and revenue that eventually move to LPL, the company said in a statement.

No contingency payment would be due if less than 72% of NPH’s production is moved to LPL, according to the company.

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