You may have recently heard – either from us or in the media -- about an agreement between Macquarie Management Holdings, Inc. and LPL Holdings, Inc. (LPL Holdings) whereby LPL Holdings would acquire the wealth management business of Waddell & Reed Financial, Inc. It is our priority to keep you informed as details become available and to share what the acquisition may mean for you.
As you know, we are independent financial advisors affiliated with Waddell & Reed, Inc. (WRI), a broker-dealer and registered investment advisor. WRI provides support to our business as we work directly with you. After the acquisition, LPL Financial LLC (LPL) will provide similar support services.
Your best interests are a top priority
Our primary focus and core philosophy is to always act in your best interests. We sincerely value your steadfast dedication and will continue to serve your financial interests.
So, what happens next?
You will receive a letter from WRI in early March about the anticipated change of ownership to LPL. You do not need to take any action if you plan to continue using our services. During and after the transition to LPL, you will have full access to your accounts and we will continue to service them.
Keeping you informed
We will stay in contact throughout the transition to LPL so that it is as seamless as possible. As always, we are happy to answer any questions you may have.
We deeply appreciate your relationship and are sincerely grateful for your patience over the next several months.
Jeff Feuerstein and all of us at Values and Vision Financial Advisors