Waddell & Reed Announcement (January 2021)

You may have heard recently that LPL Financial Holdings Inc. and Macquarie Management Holdings, Inc. announced the signing of an agreement to jointly acquire Waddell & Reed Financial, Inc. and I wanted to send a quick note about what this might mean for you.I am currently an independent financial advisor affiliated with Waddell & Reed, Inc.

As you know, Waddell & Reed provides support to my business as you and I work together directly. Similarly, after the close of the acquisition and subsequent transition of my practice to LPL, I will become an independent financial advisor affiliated with LPL. As I do today, I will be able to continue to serve your needs and guide you toward your goals. Very little will change, and your best interests remain my top priority. You may not be familiar with LPL, so I am happy to share some information with you about the firm and what you can expect in terms of service and support. LPL is the nation’s largest independent broker-dealer*, recognized for its innovative tools, technology, and service. LPL invests heavily to improve its technology and provide extraordinary service. This should enable me to spend more time helping you pursue your financial goals and elevate your overall experience. You will experience timely trades, 24/7 access to your accounts from any device, anywhere, and clear and easy-to-understand statements. 

You are not required to do anything at this time. With LPL’s partnership, we are working hard behind the scenes to minimize any disruptions to you as I transfer my practice to LPL. Waddell & Reed and LPL expect this acquisition to take place in mid-2021. 

Myself and the rest of the Montane Group are all working very hard to ensure the change runs smoothly. We are here to talk about any concerns you might have. We will continue to share more information with you as we near an official transition date, but right now, we want to assure you that our group, especially on your end, will remain much the same financial investment group that you know and love.


Steve & the Montane Group