LPL Suitors Most Likely PE Firms
October 13, 2016 By Dan Jamieson, Financial Advisor The most likely potential buyer for LPL Financial -- assuming a deal is done -- would be a private equity firm, observers say. And LPL reps say they’d be fine with that. Reuters reported Tuesday that LPL, the largest independent broker-dealer in the United States, is exploring strategic alternatives, including a potential sale. The news service cited unnamed sources who were familiar with the matter. LPL is working with investment bank Goldman Sachs Group Inc. on a sale process that has attracted other companies and private equity firms, Reuters reported. LPL and Goldman Sachs both declined to comment. As owners, private equity firms would solve LPL’s difficulty in trying to meet Wall Street’s growth expectations, said Dan Seivert, chief executive of Echelon Partners, a mergers and acquisitions consultant. “The goal for the...
