LPL to acquire $1.5 billion Lucia Securities

LPL to acquire $1.5 billion Lucia Securities
The IBD will add the San Diego firm's 20 advisers via the purchase
APR 29, 2020

LPL Financial has agreed to acquire Lucia Securities, a San Diego, Calif.-based hybrid with 20 advisers that manages $1.5 billion.

The acquisition is scheduled to close during the second half. It is structured as an asset purchase, providing for a payment at closing and potential contingent payments.

The transaction multiple is an estimated “six times post-synergy EBITDA,” LPL said in a release.

Raymond James & Associates advised Lucia on the transaction, LPL said.

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