LPL Financial Completes Acquisition of Crown Capital Securities’ Wealth Management Business, Marking a Major Milestone in Wealth Management Sector

LPL Financial has officially completed the acquisition of Crown Capital Securities’ wealth management business. Based in Orange County, California, Crown Capital is a broker-dealer and registered investment advisor. The acquisition was announced in July and has now been finalized.

Crown Capital’s wealth management business supports around 260 financial advisors who manage approximately $6.5 billion in advisory and brokerage assets. As of May 8, approximately $1.3 billion of assets managed by 125 advisors have already been moved to LPL’s platform, with the remaining $3.7 billion expected to transition in the coming months.

Rich Steinmeier, managing director and divisional president of business strategy and growth at LPL Financial, commended Crown Capital for its growth mindset and commitment to independence for financial advisors. He expressed excitement about how the acquisition will enable both firms to provide a top-notch experience for advisors and clients while supporting future growth in the wealth management sector.

Jonathan French, president and chief marketing officer of Crown Capital, shared his confidence that this acquisition would be beneficial for both companies as they work together to enhance their offerings and support the growth of their businesses in this space.

With this acquisition complete, LPL Financial now serves nearly 23,000 financial advisors across the country, including those at institutions and RIA firms. This marks a significant milestone for both companies as they continue to grow their presence in the wealth management sector.

In conclusion, LPL Financial has completed its acquisition of Crown Capital Securities’ wealth management business after announcing it in July. This transaction represents a significant milestone for both companies as they work together to enhance their offerings and support the growth of their businesses in the wealth management sector.