{"id":772357,"date":"2023-07-25T16:11:13","date_gmt":"2023-07-25T20:11:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/"},"modified":"2023-07-25T16:11:13","modified_gmt":"2023-07-25T20:11:13","slug":"lpl-financial-to-acquire-financial-services-provider-crown-capital-securities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/","title":{"rendered":"LPL Financial to Acquire Financial Services Provider Crown Capital Securities"},"content":{"rendered":"<h2>\nCrown Capital Securities is a broker-dealer and RIA supporting approximately 260 advisors serving approximately $6.5 billion of client assets<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">SAN DIEGO, July  25, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HfROYIm7yOTCyIIKu4q-O0Wronf6L3R8NC2c-HUe4-6y6__d3IkuzetXg_scVfnF-hKIVHKzrAQGNpIWxo2sKg==\" rel=\"nofollow noopener\" target=\"_blank\"><u>LPL Financial<\/u><\/a> LLC (\u201cLPL Financial\u201d or \u201cLPL\u201d) today announced that the firm has entered into a definitive purchase agreement to acquire the wealth management business of Crown Capital Securities, L.P. (\u201cCrown Capital\u201d or \u201cCrown\u201d), a full-service broker-dealer and registered investment advisor (\u201cRIA\u201d) headquartered in Orange County, California. Crown supports approximately 260 financial advisors, who serve approximately $6.5 billion of advisory and brokerage assets.<\/p>\n<p>Established in 1999, Crown was founded on the philosophy that financial advisors should have the freedom to build a practice on their terms. Crown advisors offer their clients customized, high-touch services such as investment management, estate planning, risk management, education planning, corporate benefits, full-service brokerage and alternative investments.<\/p>\n<p>\u201cSince our inception, we have been focused on supporting our advisors so they have more time to develop customized and integrated investment and planning strategies and more time to spend with their clients, providing a best-in-class customer experience,\u201d said Darol K. Paulsen, Chief Executive Officer, Crown Capital. \u201cLPL shares that philosophy, which is why we\u2019re confident LPL will preserve our advisor-first legacy.\u201d \u201cThis was an emotional and very personal decision for the firm, and we believe LPL was the ideal choice to help our advisors take their businesses to the next level in the future,\u201d said Phyllis Paulsen, Executive Vice President, Crown Capital.<\/p>\n<p>\u201cCrown Capital advisors share a common mission to help their clients build their financial legacies,\u201d said Rich Steinmeier, LPL Financial managing director and divisional president, Business Development. \u201cLPL\u2019s industry-leading platform will enable them to streamline operations, enhance their service offering, and grow their client relationships. We are committed to supporting the Crown advisors so they can continue providing exceptional service to their clients, and look forward to welcoming them to LPL.\u201d<\/p>\n<p>\u201cThrough this agreement, Crown advisors will maintain the independence and freedom to innovate, which they have valued at Crown, while enjoying access to LPL\u2019s industry-leading technology and integrated advisor platform,\u201d said Jonathan French, President, Crown Capital. \u201cAdditionally, advisors will have the operational support to help their practices thrive, and enhance their long-standing and personal client relationships.\u201d<\/p>\n<p>The purchase agreement was signed on July 21, 2023, and the transaction is expected to close in early 2024, subject to receipt of regulatory approval and other customary closing conditions.\u00a0<\/p>\n<p>\n        <strong><br \/>\n          <u>About LPL Financial<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 RIA firms nationwide. We are steadfast in our commitment to the advisor-mediated advice model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.<\/p>\n<p>Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA\/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Crown Capital and LPL Financial are separate entities.<\/p>\n<p>Throughout this communication, the terms \u201cfinancial advisors\u201d and \u201cadvisors\u201d are used to refer to registered representatives and\/or investment advisor representatives affiliated with LPL Financial.<\/p>\n<p>We routinely disclose information that may be important to shareholders in the \u201cInvestor Relations\u201d or \u201cPress Releases\u201d section of our website.<\/p>\n<p>\n        <strong><br \/>\n          <u>Warning Regarding Forward-Looking Statements<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Statements in this press release regarding LPL\u2019s and Crown Capital\u2019s future operating results, growth and plans, including potential future levels of assets serviced, the onboarding of advisors and assets, or any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the historical performance of LPL and Crown Capital and LPL\u2019s plans, estimates and expectations as of July 25, 2023. Forward-looking statements are not guarantees that the future levels of assets serviced, results, plans, intentions or expectations expressed or implied by LPL will be achieved.<\/p>\n<p>Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets serviced, actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. In particular, LPL can provide no assurance that the assets reported as serviced by Crown Capital financial advisors will translate into assets serviced at LPL, or that Crown Capital financial advisors will join LPL. Important factors that could cause or contribute to such differences include: satisfaction of closing conditions under the parties\u2019 purchase agreement, including receipt of transaction approval from the Financial Industry Regulatory Authority; difficulties or delays in onboarding Crown Capital financial advisors or clients, which could negatively affect LPL\u2019s ability to realize revenue or expense synergies or other expected benefits of the transaction; disruptions of LPL\u2019s business that could make it more difficult to maintain relationships with its financial advisors and their clients; the choice by clients of Crown Capital advisors not to open brokerage and\/or advisory accounts at LPL; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry, including competitors\u2019 success in recruiting Crown Capital advisors and their clients; and the other factors set forth in Part I, \u201cItem 1A. Risk Factors\u201d in LPL\u2019s 2022 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, LPL specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company&#8217;s views as of any date subsequent to the date of this press release. Estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.<\/p>\n<p>Contacts<\/p>\n<p>Media Relations<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7ruUaPiNkdZyULqFM8SlxapWgSOd5BMw1zdJS8z9ir7yfEHTGh_CQ19I33HbEkHgvKf79ql9oghfC5booz3pw34v_lXbK8OHW_csWlpKddhkpMcZjAdW1b0NHPHOneCj\" rel=\"nofollow noopener\" target=\"_blank\"><u>media.relations@lplfinancial.com<\/u><\/a><br \/>(706) 254-4100<\/p>\n<p>Investor Relations<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=NOZCnnYO-ZiOIqFHBjk5nRf-4y6h-EHjKUqUgeJ-cF2tVl_OBCI7k9uxBZGCp80-Whl7Z2iygp5vApOz3JFkpST9-ByobEAyu77jhC0AJcYFb4kQRjZ1dsJcQQzTqDbcWHl2gFiCVPjhugGoxBrzQQ==\" rel=\"nofollow noopener\" target=\"_blank\"><u>investor.relations@lplfinancial.com<\/u><\/a><\/p>\n<p>Tracking # 1-05376026<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MDU3OSM1NzA4NzcyIzIwMTkxNDA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MmE0ZGRhM2MtM2IzZS00NGQ1LWE0ZTgtYTcyODRmNGFkZGU4LTEwMzA3MTM=\/tiny\/LPL-Financial-Holdings-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crown Capital Securities is a broker-dealer and RIA supporting approximately 260 advisors serving approximately $6.5 billion of client assets SAN DIEGO, July 25, 2023 (GLOBE NEWSWIRE) &#8212; LPL Financial LLC (\u201cLPL Financial\u201d or \u201cLPL\u201d) today announced that the firm has entered into a definitive purchase agreement to acquire the wealth management business of Crown Capital Securities, L.P. (\u201cCrown Capital\u201d or \u201cCrown\u201d), a full-service broker-dealer and registered investment advisor (\u201cRIA\u201d) headquartered in Orange County, California. Crown supports approximately 260 financial advisors, who serve approximately $6.5 billion of advisory and brokerage assets. Established in 1999, Crown was founded on the philosophy that financial advisors should have the freedom to build a practice on their terms. Crown advisors offer their clients customized, high-touch &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LPL Financial to Acquire Financial Services Provider Crown Capital Securities&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-772357","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LPL Financial to Acquire Financial Services Provider Crown Capital Securities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LPL Financial to Acquire Financial Services Provider Crown Capital Securities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Crown Capital Securities is a broker-dealer and RIA supporting approximately 260 advisors serving approximately $6.5 billion of client assets SAN DIEGO, July 25, 2023 (GLOBE NEWSWIRE) &#8212; LPL Financial LLC (\u201cLPL Financial\u201d or \u201cLPL\u201d) today announced that the firm has entered into a definitive purchase agreement to acquire the wealth management business of Crown Capital Securities, L.P. (\u201cCrown Capital\u201d or \u201cCrown\u201d), a full-service broker-dealer and registered investment advisor (\u201cRIA\u201d) headquartered in Orange County, California. Crown supports approximately 260 financial advisors, who serve approximately $6.5 billion of advisory and brokerage assets. Established in 1999, Crown was founded on the philosophy that financial advisors should have the freedom to build a practice on their terms. 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(\u201cCrown Capital\u201d or \u201cCrown\u201d), a full-service broker-dealer and registered investment advisor (\u201cRIA\u201d) headquartered in Orange County, California. Crown supports approximately 260 financial advisors, who serve approximately $6.5 billion of advisory and brokerage assets. Established in 1999, Crown was founded on the philosophy that financial advisors should have the freedom to build a practice on their terms. Crown advisors offer their clients customized, high-touch &hellip; Continue reading \"LPL Financial to Acquire Financial Services Provider Crown Capital Securities\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/","og_site_name":"Market Newsdesk","article_published_time":"2023-07-25T20:11:13+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MDU3OSM1NzA4NzcyIzIwMTkxNDA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LPL Financial to Acquire Financial Services Provider Crown Capital Securities","datePublished":"2023-07-25T20:11:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/"},"wordCount":1074,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MDU3OSM1NzA4NzcyIzIwMTkxNDA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lpl-financial-to-acquire-financial-services-provider-crown-capital-securities\/","name":"LPL Financial to Acquire Financial Services Provider Crown Capital Securities - 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