LPL Financial has completed its acquisition of the wealth management business of Crown Capital Securities. The transaction was finalized following an announcement in July. Crown Capital, a broker-dealer and registered investment advisor based in Orange County, California, supports around 260 financial advisors who manage approximately $6.5 billion in advisory and brokerage assets.
As of May 8th, over $1.3 billion of assets managed by 125 advisors have already been transferred to LPL’s platform, with the remaining $3.7 billion expected to transition in the coming months. Richard Steinmeier, managing director and divisional president of business strategy and growth at LPL Financial, praised Crown Capital for its focus on growth mindset and commitment to independence for financial advisors.
Crown Capital’s president and chief marketing officer, Jonathan French, expressed confidence that the acquisition would enable the firm to provide a top-notch experience for advisors and clients while supporting future growth opportunities. With this acquisition, LPL Financial now serves nearly 23,000 financial advisors across institutions and registered investment advisor (RIA) firms across the country. This marks a significant milestone for both companies as they work together to enhance their offerings and support the growth of their businesses in the wealth management sector.
