LPL Picks Up $3.1B Firm From TD Ameritrade

“We’re constantly striving to build the kind of future-proof platform that helps advisors eliminate back-office, technology and investment management burdens so they can spend more time where it really matters — growing their business.”

“LPL has a very good understanding of the advisor as a client and will help make us only stronger in this endeavor,” Mazzali said. “We will remain multi-custodian, with LPL being the primary custodian in our search for the best partner in the custody space.”

CGAN executives also “recognized LPL’s flexibility and open-minded approach to supporting their business, as well as the firm’s commitment to future enhancements that support the evolution of the profession,” according to LPL.

“We appreciate LPL’s corporate strategy and commitment to supporting large RIAs in the custodial-only space, as well as the firm’s culture and attention to services and products that support both the advisor and end client,” Mazzali said in a statement.

LPL now supports over 21,000 financial advisors, including advisors at about 1,100 enterprises and at about 500 RIAs nationwide who custody or service $1 trillion in brokerage and advisory client assets, it said.

(Pictured: LPL campus in South Carolina. Photo: LPL Financial)