LPL Financial Holdings Inc. announced on Tuesday that they have entered an agreement to acquire Atria Wealth Solutions Inc., a company that provides wealth management solutions. The specifics of the financial agreement have not been released yet.
According to the terms of agreement, Atria is set to transition approximately $100 billion in brokerage and advisory assets over to the LPL platform. The anticipated time for the completion of this transaction is scheduled for the latter half of 2024, and the conversion is predicted to be finalized by mid-2025.
At the moment, shares of LPL are experiencing a surge, trading at $262.50 on the Nasdaq, an increase of 4.40 percent.
