June 15, 2011
The SNL Financial article, "LPL Seeking Niche Acquisitions, Not Securities America" reported on LPL Investment Holdings Inc.'s interest in deals across the broker/dealer sector. It reviewed LPL's purchase of National Retirement Partners and the talk of a possible deal with Ameriprise Financial's subsidiary Securities America, and some of the latter's legal issues.
The article noted: "The year has unfolded pretty much as expected, according to Paul McCurdy, chairman of Kelley Drye & Warren LLP's broker/dealer practice, with few major consolidation-oriented transactions and a greater focus on complementary strategic deals across the sector. McCurdy explained that it is tough to predict which players will make a move and where, but he noted that bolt-ons geared toward improving derivatives, research and client education offerings, as well as speeding up execution capabilities, are garnering interest.
"'It's going to be driven by market participants where the acquirer either has an established practice and wants to grow it or doesn't have an established practice and recognizes that it's better to buy it than build it,' he said."