LPL Climbs Advisor Satisfaction Rankings Ahead of Commonwealth Onboarding

LPL Financial, the largest independent broker-dealer in the United States, announced its acquisition of rival Commonwealth Financial Network in 2025, drawing widespread attention across the wealth management industry. Differences in the firms’ technology platforms and corporate cultures have made smooth integration and advisor retention key challenges for LPL. The deal will reshape both companies and highlights the difficulty large institutions face in retaining advisors after their contracts expire.

Ahead of the formal transition of Commonwealth’s financial advisors to LPL in 2026, J.D. Power released its latest independent advisor satisfaction study. Commonwealth retained the top spot, while LPL unexpectedly ranked second, its best result in nearly a decade. The improvement offers a boost ahead of the systems integration and advisor transition, while signaling that LPL has made significant progress in improving the advisor experience.