According to anonymous sources speaking to Reuters, LPL Financial is exploring strategic alternatives, including a potential sale.
Goldman Sachs is working with LPL on a sale process that has attracted other companies and private equity firms.
If LPL is really looking at a potential sale, one has to wonder whether the new Department of Labor Fiduciary Rule has played a part in this development. I don’t have any insight, but I’m someone who doesn’t believe in coincidences.
Whether the new rule is impacting this development might never be known, I still believe that changes with the rule will lead to changes within the brokerage industry that will lead to transactions includes sales and consolidation of brokerage firms. That’s just a guess, but a solid one since seismic changes in the retirement plan industry such as this one leads to a shakeup among plan providers.
