LPL Financial to acquire private client business of Boenning & Scattergood

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• LPL Financial (NASDAQ:LPLA) entered into a definitive purchase agreement to acquire private client business of investment advisor Boenning & Scattergood.
• The transaction, anticipated to close in early 2023, is structured as an asset purchase.
• The transaction is subject to receipt of regulatory approval and other customary closing conditions.
• The company estimates a transaction multiple of ~5x post-synergy EBITDA.
• Source: Press Release