LPL Investment Holdings will acquire Rockville, Md.-based Fortigent, a firm that provides wealth management solutions to advisors who run high-net-worth practices at independent advisory firms, trust companies and banks, the firms announced.

Fortigent, whose 90 advisory firm clients oversee more than $50 billion in high-net-worth assets, shores up LPL Financial’s growing share of high-net-worth business. Not all of those assets are held in custody with LPL, and advisors who sign on with Fortigent in the future will not be required to do so. Still, the deal is attractive for LPL, according to Robert Moore, CFO of LPL Financial.

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