LPL Acquires HNW Consulting Firm

LPL Financial is acquiring Fortigent, a provider of high-net-worth solutions and consulting services to RIAs, banks and trust companies.

 

Independent broker/dealer LPL Financial said that its parent company, LPL Investment Holdings Inc., is responsible for the acquisition.

LPL said Fortigent will remain focused on supporting financial professionals serving high-net-worth clients. It will retain its brand, management team and Rockville, Maryland headquarters. Andrew Putterman will continue to lead Fortigent, reporting to Robert Moore, chief financial officer of LPL Financial.

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The transaction is expected to close in the first quarter of 2012, subject to customary closing conditions. Financial terms of the transaction were not disclosed.

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