LPL Financial has entered into a definitive purchase agreement to acquire the retail business of Boenning & Scattergood, a broker-dealer and registered investment adviser headquartered in West Conshohocken, Pennsylvania.
The regional firm’s 40 financial advisers, who manage $5 billion in advisory and brokerage assets, will become part of LPL’s employee adviser model but will continue to work under the Boenning & Scattergood brand name.
“Our family business has a 108-year history of helping our clients build and secure their financial legacies, and LPL is the right partner for us to carry that legacy and our business forward,” Harold Scattergood Jr., chairman and CEO of Boenning & Scattergood, said in a release.
The transaction is structured as an asset purchase, LPL said in the release, and is expected to close in early 2023.
A high-net-worth advisory group leaves Wintrust to embrace independence.
Independent firm joins expanding national advisory network.
New research reveals shifting strategies in financial guidance.
Westlake Village office strengthened by acquisition.
The Finra filing cited an arbitration which involved seven claimants seeking compensation for alleged securities law violations.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
