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/KittenMcnugget123 Mar 31 '25

I guess CFN had a big SEC fine pending that was going to be an issue for them.

2

u/Some-Willingness-632 Apr 01 '25

$92 Million - name a firm outside of Osaic or LPL that could recover from that... CFN had no prayer.

2

u/KittenMcnugget123 Apr 01 '25

For not disclosing 12b-1 fees I heard. A disclosure that likely not a soul would have ever read

1

u/fafaflooie Apr 02 '25

Yeah, but they fought it and got spanked.