Lpl Financial To Acquire Financial Resources Group Investment Services
Nov 03, 2022•about 3 years ago
Acquiring Company
LPL Financial
Acquired Company
Financial Resources Group Investment Services
Description
LPL Financial Holdings Inc. (NASDAQ: LPLA) (“LPL Financial” or “LPL”) today announced that the firm has entered into a definitive purchase agreement to acquire Financial Resources Group Investment Services (“FRGIS”), an LPL branch office supporting financial institutions and advisors, headquartered in Fort Mill, South Carolina. FRGIS comprises approximately 800 advisors and 85 financial institutions nation-wide, serving approximately $40 billion of advisory and brokerage assets. FRGIS will continue to operate independently within LPL following the closing of the acquisition (the “Closing”), retaining its brand and leadership team.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed