back Back

LPL Financial takes over FinTech firm Blaze Portfolio

By Pavithra R

October 28, 2020

  • Lpl
  • USA
Share

LPL Financial Holdings, a leader in the retail financial advice market and the nation’s largest independent broker/dealer, has acquired Blaze Portfolio, a Chicago-based FinTech firm providing trade order management and portfolio rebalancing for investment professionals.

Founded in 2010, Blaze Portfolio develops scalable investment portfolio rebalancing software and real-time trade order management technology for wealth managers, investment advisors, multi-family offices, digital advisors and industry partners. It currently serves 135 investment firms and provides an advisor-facing trading system that LPL Financial will integrate into its platform to expand its wealth management capabilities and drive growth.

“For many advisors, our trading platform is their lifeblood, and the way they express and execute their investment strategies for their clients in a sophisticated way. It’s important, therefore, that we continue to invest in our offering to help them differentiate, grow and win in the marketplace. Acquiring Blaze Portfolio will enable us to provide our advisors with a dynamic trading and rebalancing system that can be utilized by practices of all sizes, affiliations and sophistications to meet their clients’ needs,” said Burt White, LPL Financial managing director and Chief Investment Officer. 

Besides bringing Blaze Portfolio’s trading capabilities to all LPL advisors, LPL Financial will continue to offer Blaze Portfolio’s services as a stand-alone solution to the wealth management industry. LPL is planning to retain the talented team of employees who will continue to evolve and expand the Blaze Portfolio technology offering. LPL paid an initial purchase price of approx. $12 mn and has agreed to a potential contingent payment of up to $5 mn subject to milestones and customary purchase price adjustments.

“We are excited to join LPL because of our shared commitment to innovation and focus on delivering best-in-class advisor technology. With LPL, we have opportunity to scale, expand the capabilities of our product and partner with an experienced team to design technology around the advisor experience,” said Blaze Portfolio Chief Executive Officer Bryson Pouw.

Established since 1989, LPL was founded with a pioneering vision: to help entrepreneurial financial professionals establish successful businesses through which they could offer truly independent financial guidance and investment advice.

Also, read Visa to acquire YellowPepper to bolster payment capabilities in Latin America and the Caribbean

Previous Article

October 28, 2020

SINNAD and Compass Plus enable banks to offer tokenisation services

Read More
Next Article

October 28, 2020

Nuclei selected for Qatar FinTech Hub Accelerator program

Read More






IBSi Daily News Analysis

June 21, 2024

Lpl

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

Ageras to acquire French FinTech Shine from Societe Generale

Read More

Today

Loop & J.P. Morgan Payments to boost working capital with freight payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023