LPL Wraps Up NPH Deal, Adds Second Wave of Reps

On its fourth-quarter conference call (held Feb. 1), LPL executives explained that the first wave of NHP reps totaled about 1,000 and that the second wave is similar in size — for a total retention rate of approximately 70%, representing about $75 billion in client assets.

At the time it struck the deal, the IBD said the four NPH broker-dealers included some 3,200 advisors with $120 billion of assets.

It paid an initial purchase price for the NPH reps of $325 million and said it could pay up to $123 million more if 72% or more of the advisors’ production (fee and commission revenue) are retained.

Groups moving with over $1 billion in assets are:

• Advisors Southeastern Alliance, Atlanta
• Central Trust Bank, Jefferson City, Mo.
• Community Investment Services Inc., Canton, N.Y.
• Johnson Bank, Racine, Wis.
• Life Brokerage Financial Group, Clearwater, Fla.

The teams joining LPL with between $500 million and $999 million in assets are:

• Bethpage Federal Credit Union, Bethpage, N.Y.
• Christopher Edwards Financial Associates, Chester, N.J.
• Fross & Fross Wealth Management, The Villages, Fla.
• Logix Federal Credit Union, Burbank, Calif.
• Members 1^st Federal Credit Union, Mechanicsburg, Pa.
• Oak Partners, Crown Point, Ind.
• Parsons Financial Associates, Concord, N.H.
• R Group Financial Marketing Inc., Eagan, Minn.
• United Community Banks Inc., Blairsville, Ga.