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January 01, 2011 at 07:00 PM
The parent company of LPL Financial (LPLA) went public on November 18. LPL is still majority-owned by the private equity firms TPG Capital and Hellman & Friedman.
As of December 9, its shares were trading near $35, after going public at $30. This means its shares are handily beating the major stock markets, judging from three weeks of performance.
“What more could one ask for?” said Chip Roame, head of Tiburon Strategic Advisors, a consulting firm based in northern California. “It’s been hugely successful.”
