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Expanded Clearing Options

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Affiliates of Linsco/Private Ledger, (LPL) will have additional choices when it comes to clearing, as LPL will offer “a choice of clearing through Pershing or LPL platforms,” according to an October 9 announcement.

LPL, with 10,000-plus affiliated advisors, has grown fast through an acquisition strategy that saw the firm buy UVEST in 2006, and then LPL announced the acquisition of three Pacific Life B/Ds last April: Waterstone Financial Group, Mutual Service Corporation, and Associated Securities Corp. LPL Chairman and CEO Mark Casady says in the announcement, “Our partnership with Pershing is a critical component of continuing LPL’s acquisition strategy.”