As promised, LPL Financial, parent company of the nation’s largest independent broker-dealer, will continue its policy of “returning capital to shareholders” by agreeing to repurchase nearly 2 million shares of its common stock.

Hot on the heels of record revenues for 2013, LPL has entered into a share purchase agreement to buy 1.9 million shares for $100 million at $52 per share from TPG Global, a Fort Worth, Texas-based private equity firm that was one of the company’s original investors.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access