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."

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

What's next for adviser consolidation?

After a strong start to M&A activity in 2017, the year stalled in the third quarter. What's ahead? M&A Expert David Devoe explains.

Video Spotlight

Help Clients Be Prepared, Not Surprised

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Tax update: Brady says sales tax deduction in final bill

Taxpayers will be able to deduct state income taxes or state sales taxes in addition to property levies — up to a $10,000 cap.

Critics say regulation hasn't curbed overly rosy projections for indexed universal life insurance

They say rule didn't go far enough and more stringent measures may be necessary.

Broker, retirement groups make last-minute pleas to change tax legislation

Pass-through provisions are target of groups representing employee-model brokerage firms, as well as retirement plan advisers.

House and Senate reach tentative compromise for tax overhaul

Lawmakers still need to get a cost analysis of their agreement, so it's not yet definite, according to a source.

Advisers' biggest fears for 2018

What keeps advisers up at night.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print