Wealth Enhancement Group to Break From LPL

A spokesperson for LPL also confirmed the pending split, noting that LPL and WEG have enjoyed a mutually beneficial partnership for many years.

“However, as both companies continue to evolve, WEG will no longer have a relationship with LPL,” the spokesperson explained. “We remain committed to ensuring a smooth transition for WEG advisors and their clients, and we’re confident this shift will ultimately benefit and enhance LPL’s ability to support our valued clients. This decision aligns with our strategic intent to focus our investments on partnerships that reflect LPL’s mission and operating models.”

Through both organic growth and an acquisition-heavy strategy, Wealth Enhancement Group has expanded its national footprint in recent years to surpass $96 billion in total client assets. The acquisition of M&R Capital Management in November was the firm’s 15th closed M&A transaction of 2024. That tally was only slightly lower than the 17 acquisitions closed in 2023.

LPL also continues to draw new advisors across its various affiliation models, now supporting more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions. It services and custodies some $1.7 trillion in brokerage and advisory assets.

Credit: Adobe Stock