After the uneven acquisition of Nationwide Planning Holdings in 2017 and complaints from advisors about its know-how final 12 months, LPL Monetary is rebounding and seemingly has money to burn.
The corporate at present has greater than $1 billion in capital it may possibly deploy for mergers and acquisitions, LPL CFO Matt Audette stated throughout a presentation Tuesday on the Credit score Suisse Monetary Companies Discussion board.
A surplus of money above its $200 million steadiness sheet goal, earnings from any acquired corporations and the pliability to briefly go above its goal leverage vary give the unbiased dealer/vendor appreciable buying energy in 2019.
“We really feel very well positioned for M&A ought to it come up,” Audette stated.
In December, LPL acquired know-how agency AdvisoryWorld for $28 million in money. However Audette and different executives have made it clear the agency intends to proceed to put money into the corporate with the purpose of serving to advisors throughout its enterprise channels.
Principally not too long ago, the agency is utilizing extra know-how to streamline its recruiting and transition course of and has launched a brand new planning software for advisors.
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