Wealth Enhancement Group to break away from LPL

An LPL spokesperson also confirmed the pending split, noting that LPL and WEG have enjoyed a mutually beneficial partnership for many years.

“However, as both companies continue to evolve, WEG will no longer have a relationship with LPL,” the spokesperson explained. “We remain committed to ensuring a smooth transition for WEG advisors and their clients and are confident that this change will ultimately benefit and enhance LPL’s ability to support our valued clients. This decision aligns with our strategic intent to focus our investments on partnerships that reflect LPL’s mission and operating models.”

Through both organic growth and an acquisition strategy, Wealth Enhancement Group has expanded its national footprint in recent years to exceed $96 billion in total client assets. The acquisition of M&R Capital Management in November was the company’s 15th completed M&A deal since 2024. This number was only slightly less than the 17 purchases ended in 2023.

LPL also continues to attract new advisors across its various affiliation models, now supporting more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions. It services and holds approximately $1.7 trillion in brokerage and advisory assets.