Most-popular stories of 2012
12. Platform diving
Headline: LPL to buy Fortigent in 'massive development in the industry'
Date: January 3
Link: Click here
In hindsight: LPL's acquisition of the wealth manager was big news, and for good reason. In buying Fortigent, the publicly traded LPL not only made inroads into the HNWI space — Fortigent's average client has $7M in assets — it also picked up some valuable technology. Fortigent's platform services 90 clients with some $50B in assets. As industry Stephen Winks said, “This gives LPL an incredible competitive edge in the marketplace." Looking back, he was spot on.