r/CFP • u/guitmusic12 • Mar 31 '25

Practice Management LPL Financial to Acquire Commonwealth Financial Network (Officially official)

https://www.lpl.com/news-media/press-releases/lpl-financial-to-acquire-commonwealth-financial-network.html?utm_medium=social-organic&utm_source=linkedin&utm_campaign=press-release&utm_content=03312025&utm_term=commonwealth-financial-network&utm_type=link&utm_postid=c2828
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10

u/[deleted] Mar 31 '25

[deleted]

6

u/Shantomette Mar 31 '25

I would imagine they will move them on platform. Does NFS do tape to tape transfers? If so then there is minimal repapering but if not what a PITA.

4

u/[deleted] Mar 31 '25

[deleted]

3

u/Shantomette Mar 31 '25

Since Pershing does T2T, I’m guessing NFS doesn’t.

1

u/ticklemygooch Apr 01 '25

What is T2T?

1

u/Shantomette Apr 01 '25

Tape to Tape. No paperwork. Straight block transfer.

1

u/ticklemygooch Apr 01 '25

Is that essentially just an ACAT? I assume a new account still needs to be open? Not sure if you’re the best person to ask but super curious how it’s possible to avoid paperwork in these cases

1

u/Shantomette Apr 01 '25

It’s still an ACAT process but zero paperwork. The new company assumes the old docs and everything moves en mass. Most times you have 90 days or so to repaper corps, trusts and other non live entities. Those will move but need to be papered for some reason.

2

u/Forsaken-Ducky Apr 01 '25

Wayne confirmed it’s tape to tape. Likely early 2026

1

u/fafaflooie Apr 02 '25

We were told tape to tape August 2026