The parent company of LPL Financial, the nation's largest independent broker-dealer, announced its intent to acquire Concord Capital Partners and certain of its subsidiaries.   Concord Wealth Management is an industry leader in providing technology and open architecture investment management solutions for trust groups of financial institutions.  Concord, which is based in Matawan, NJ, has over $10 billion in assets under administration.  

Through its Institution Services business unit, LPL Financial is the nation's largest provider of 3rd-party investment services to banks and credit unions.  With this acquisition, LPL Financial would have the ability to support both the brokerage and trust business lines of current and prospective financial institution partners.  The combination of offerings will create an integrated wealth management solution for financial institutions that the company believes will redefine the market.   [PRNewswire, 4/20]