M&A Deal Summary

LPL Financial Acquires Waddell & Reed Financial - Wealth Management Business

On December 2, 2020, LPL Financial acquired business services company Waddell & Reed Financial - Wealth Management Business from Waddell & Reed Financial

Acquisition Highlights
  • This is LPL Financial’s 1st transaction in the Business Services sector.
  • This is LPL Financial’s 1st transaction in the United States.
  • This is LPL Financial’s 1st transaction in Kansas.

M&A Deal Summary
Date 2020-12-02
Target Waddell & Reed Financial - Wealth Management Business
Sector Business Services
Buyer(s) LPL Financial
Sellers(s) Waddell & Reed Financial
Deal Type Divestiture

Target

Waddell & Reed Financial - Wealth Management Business

Overland Park, Kansas, United States
Waddell & Reed Financial, Inc.'s Wealth Management Business had assets under administration of approximately $63 billion.

Search 202,463 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

LPL Financial

San Diego, California, United States
Category Company
Founded 1989
Sector Financial Services
Employees8,724
Revenue 10.1B USD (2023)
DESCRIPTION

LPL Financial is the exclusive provider of investment advisory, marketing, administrative, distribution and information systems services to the largest independent financial advisor network in the United States. LPL Financial was founded in 1989 and is based in San Diego, California.

DEAL STATS #
Overall 1 of 7
Sector (Business Services) 1 of 2
Type (Divestiture) 1 of 1
State (Kansas) 1 of 1
Country (United States) 1 of 7
Year (2020) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-08 Boenning & Scattergood

West Conshohocken, Pennsylvania, United States

Boenning & Scattergood is a broker/dealer and registered investment adviser that provides individual investors, corporate and municipal clients, and institutions a full complement of financial services, including brokerage, wealth management, equity research, equity and fixed income sales and trading, investment banking, public finance, equity options strategy, and asset management. Boenning & Scattergood was founded in 1914 and is based in West Conshohocken, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Waddell & Reed Financial

Overland Park, Kansas, United States
Category Company
Founded 1937
Sector Financial Services
Employees1,162
Revenue 1.1B USD (2019)
DESCRIPTION
Entrance to Waddell & Reed's corporate headquarters in Overland Park, Kansas.
Entrance to Waddell & Reed's corporate headquarters in Overland Park, Kansas.

Waddell & Reed Financial, Inc. is an asset management and financial planning firm serving individuals and institutional investors. Waddell & Reed was formed in 1937 and is based in Overland Park, Kansas.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 2
State (Kansas) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-01 Ivy Mackenzie

Boca Raton, Florida, United States

Ivy Mackenzie, provides financial services.

Buy -
Mergr

Product

Company

Legal