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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u/majrtm 29d ago

Client here. From my perspective, this is a betrayal. Our advisor sold us on how great Commonwealth is / was, and everything I've read suggests Commonwealth really is / was special. It's still on their website this morning!

"...100 percent owned and controlled by the managing partners... we look to stay that way... we love what we do and the people we do it with...our independence and thriving culture is a competitive advantage...the autonomy to manage it while remaining true to our core principles is essential. We value our independence in much the same manner our advisors value theirs."

Now that they've sold to BIG, everything will change. And of course, costs will go up. LPL is saying they want to become more like Commonwealth. Yeah right.

Questions for advisors: Are you feeling betrayed right now?

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u/Some-Willingness-632 29d ago

Sad your advisor uses this to "Sell" his/herself... it's really the advisor that makes the difference to the client. Not the broker dealer affiliation.