LPL Financial Holdings Inc. announced the acquisition of Capital Investment Services, a LaGrange, Georgia‑based firm, on May 5 2026. The deal adds roughly $775 million in advisory, brokerage and retirement plan assets to LPL’s platform, expanding the broker‑dealer’s advisor network and client base.
Capital Investment Services, formerly affiliated with Raymond James, serves entrepreneurs, business owners and multigenerational households. The firm’s leadership team includes Bobby Lumpkin, Cindy Little and Allina Bell, and Lumpkin has been named to Forbes’ Best‑in‑State Wealth Advisors list for 2024‑2026. The acquisition will allow the team to operate under LPL’s technology, clearing and compliance infrastructure.
The move aligns with LPL’s broader strategy to capture independent advisors and grow its asset base amid a shift away from wirehouses. LPL is the largest independent broker‑dealer in the U.S., supporting more than 32,000 advisors and managing approximately $2.3 trillion in brokerage and advisory assets. The firm has pursued a consolidation play, recently completing acquisitions such as Commonwealth Financial Network, Atria Wealth Solutions and Mariner Advisor Network, and the Capital Investment Services deal adds a focused client segment that complements LPL’s existing portfolio.
Bobby Lumpkin said, “These achievements are truly a team effort. To effectively meet the needs of our clients daily, it takes a team of professionals that are completely committed to our mission of building long‑term client relationships.” Marc Cohen, LPL’s Chief Growth Officer, added, “We are happy to welcome Bobby and the entire Capital Investment Services team to LPL. Their deeply relational, client‑first approach aligns closely with LPL’s purpose to empower advisors with the technology, flexibility and support they need to deliver personalized advice to clients.”
LPL’s Q1 2026 earnings, released on April 30 2026, showed diluted EPS of $4.43 and total revenue of $4.94 billion, a 35% increase from the prior year. Gross profit rose 25% to $1.593 billion. The acquisition of Capital Investment Services is expected to enhance LPL’s advisory revenue and support the firm’s ongoing consolidation strategy, adding a team of experienced advisors that can be integrated into LPL’s scalable platform.
The independent wealth‑management sector continues to shift away from traditional wirehouses, and LPL’s acquisition of Capital Investment Services reinforces its position as a leading independent broker‑dealer. By adding a client‑first firm that serves entrepreneurs and business owners, LPL expands its reach into a high‑growth segment while leveraging its technology and compliance infrastructure to deliver personalized advice at scale.
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