06:53 AM EDT, 03/31/2025 (MT Newswires) -- LPL Financial Holdings ( LPLA ) said Monday it has signed a deal to acquire wealth management firm Commonwealth Financial Network for about $2.7 billion in cash.

The company intends to close the transaction in H2, and the conversion to the LPL platform is anticipated in mid-2026, LPL Financial ( LPLA ) said, adding that it plans to fund the deal through a combination of corporate cash, debt, and equity.

LPL Financial's ( LPLA ) stock was down 2% in recent Monday premarket activity.