Our View of LPL’s Acquisition of Fortigent

Fortigent, the independent investment, research and financial reporting firm we have partnered with since our inception announced this morning that they are being acquired by LPL Financial.  LPL is purchasing 100% of the company from the current owners, Lydian Trust, Affiliated Managers Group and Fortigent management.

During a call with a Fortigent managing director, Barry Glassman, president of Glassman Wealth Services learned of the pending merger and expressed his support of the deal.

“They told me that it is very important to the leaders of Fortigent to keep Fortigent as Fortigent,” said Glassman.  “Based on conversations I’ve had with them leading up to the deal, I anticipate that what we enjoy most about working with Fortigent should not change.”

Glassman Wealth Services is among the few elite advisors who allocate significant resources for the considerable and comprehensive investment research and due diligence services offered by Fortigent.  In addition to harnessing the expertise of their investment specialists who filter the vast universe of investment ingredients, we respect, and have come to rely on their thought leadership in formulating the recipes that are our client portfolios.  In short, they help us to remain on the forefront of investing for our clients.

Fortigent claims that the acquisition will allow more resources to be available at a faster pace, and that advisors will see greater customization.  2010 seemed to be a year of introspection for the firm, and 2011 was a “full-court press” to address their findings.  Our hope is that with LPL’s resources, more of Fortigent’s strategic wish list, and therefore ours, will come to fruition in 2012.

Barry Glassman, CFP®
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