LPL retains $2 billion firm affiliated with NPC

Deal with California-based Trilogy Financial comes as other big advisory firms have decided to leave

Oct 19, 2017 @ 5:21 pm

By Bruce Kelly

Trilogy Financial, with over $2 billion in client assets one of the largest financial planning firms affiliated with National Planning Corp., said on Thursday afternoon it was joining LPL Financial.

LPL in mid-August said it acquired the assets of National Planning Holdings Inc., an independent broker-dealer network with 3,200 advisers and $120 billion of client assets. The firms in the NPH network are: National Planning, Invest Financial Corp., Investment Centers of America Inc. and SII Investments Inc. Combined in 2016, they generated $909 million in revenues, according to InvestmentNews data.

Since the announcement of the acquisition, the industry has been rampant with speculation regarding how many NPH advisers would eventually commit to LPL. InvestmentNewsrecently reported that industry executives and recruiters estimate that 50% to 75% of NPH advisers and assets would move to LPL.

Competition has been stiff.

For example, earlier this week Paris International, a $1.3 billion financial advisory firm based in Great Neck, N.Y., and formerly affiliated with National Planning, said it had chosen Commonwealth Financial Network as its broker-dealer, the two companies said Monday.

Also this week, Priority Financial Group, a hybrid super office of supervisory jurisdiction (OSJ) managing $1.35 billion in brokerage and advisory assets, announced it has switched affiliation from LPL Financial to Securities America.

(More: LPL retains $570 million with super-OSJ deal.)

Based in Huntington Beach, Calif., Trilogy Financial has more than 150 advisers in 10 offices across the country.

"LPL Financial's commitment to Trilogy's business model coupled with its forward-thinking perspective on compliance integration, technology, marketing and long-term growth solidified our decision that the broker-dealer is the right long-term partner for Trilogy," said Jeff Motske, Trilogy's CEO, in a statement. "We are confident that this decision will provide a smooth transition in the short-term for clients, as well as incredible long-term opportunities for our clients, advisers and entire Trilogy family as we continue to grow."


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