Alston & Bird counseled Private Advisor Group, a financial services firm based in Morristown, New Jersey, on the sale of a minority ownership stake to LPL Financial Holdings Inc. The investment by LPL is intended to deepen the strategic alignment between the firms and enhance Private Advisor Group’s ability to support its approximately 800 advisors across the United States.
The Alston & Bird team representing Private Advisors Group was led by partners Chris Frieden and Ian Calhoun. The team also included senior associate Nathan Tyre and associate Jerome Felton (Financial Services); partner Brett Coburn (Labor & Employment); and partner Brian Harvel (Federal & International Tax).