LPL Financial Acquires $15 Billion Good Life as It Extends OSJ Roll-Up Strategy
Updated
Updated · Wealth Management · Jul 20
LPL Financial Acquires $15 Billion Good Life as It Extends OSJ Roll-Up Strategy
1 articles · Updated · Wealth Management · Jul 20
Summary
$15 billion Good Life became LPL Financial’s latest full acquisition, giving the broker-dealer another affiliated advisor group it had already partnered with and folded into its platform.
The deal fits LPL’s long-running playbook of taking stakes in large OSJs, then buying them outright to add scale and recurring revenue while minimizing disruption for advisors already using LPL custody and services.
That strategy follows April’s purchase of Mariner’s advisor network, which added 367 advisors and $31 billion in assets, and earlier OSJ deals including Financial Advocates in 2023.
The Good Life move contrasts with LPL’s more difficult Commonwealth integration: the firm says it still expects to retain 80% of assets, but advisor attrition has continued and LPL recently fought to keep a $2.1 billion team.
Analysts expect more such acquisitions because LPL now supports more than 32,000 advisors and can buy affiliated broker-dealer businesses in a less competitive market than RIAs.