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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the cash funded at closing and total consideration transferred (dollars in thousands):
Cash Funded at Close |  | August 1, 2025
Cash consideration |  | $ | 1,927,371 |
Cash for liabilities assumed(1) |  | 405,823 |
Cash for post-combination expenses(2) |  | 419,049 |
Total cash funded at close |  | $ | 2,752,243 |
Consideration |  | August 1, 2025
Cash |  | $ | 1,927,371 |
Other liabilities incurred |  | 90,414 |
Total consideration |  | $ | 2,017,785 |
____________________ (1)Liabilities assumed are reflected in the Accounts payable and accrued liabilities and Equity awards liability line items in the table below and were paid concurrently with the closing. (2)The post-combination expenses were paid at the closing and primarily included $228.4 million of costs related to transaction bonuses and the acceleration of unvested equity awards which were classified as Compensation and benefits and $190.1 million of costs related to certain contract termination fees which were classified as Occupancy and equipment in the consolidated financial statements. The following table summarizes the total consideration for the transaction at October 1, 2024 (dollars in thousands):
Total Consideration | October 1, 2024
Cash | $ | 853,429 |
Fair value of contingent consideration | 19,545 |
Total consideration | $ | 872,974 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the Company's provisional purchase price allocation at August 1, 2025 (dollars in thousands):
Provisional Purchase Price Allocation(1) |  | August 1, 2025
Fair value of consideration transferred |  | $ | 2,017,785 |
Assets |  |
Cash and equivalents |  | 333,927 |
Restricted cash |  | 95,414
Investment securities |  | 43,719
Receivables from brokers, dealers and clearing organizations |  | 1,839
Other receivables, net |  | 55,788
Advisor loans, net |  | 92,716
Property and equipment, net |  | 7,769
Intangible assets |  | 1,716,000
Other assets |  | 58,330
Total identifiable assets acquired |  | $ | 2,405,502 |
Liabilities |  |
Accrued advisory and commission expenses payable |  | 14,440
Accounts payable and accrued liabilities |  | 57,012
Client payables |  | 525
Equity awards liability |  | 382,231
Unearned revenue |  | 309,594
Other liabilities |  | 47,218
Total liabilities assumed |  | $ | 811,020 |
Net assets acquired |  | 1,594,482 |
Goodwill |  | $ | 423,303 |
____________________ (1)The Company recorded provisional purchase accounting adjustments during the three months ended December 31, 2025 which resulted in a $12.9 million decrease in advisor loans, net, a $40.0 million increase in advisor relationship intangibles, a $5.0 million increase in trade name intangible, a $1.9 million decrease in other assets and a $30.1 million decrease in goodwill. The following table summarizes the Company's purchase price allocation at October 1, 2024 (dollars in thousands):
Purchase Price Allocation(1) |  | October 1, 2024
Fair value of consideration transferred |  | $ | 872,974 |
Assets |  |
Cash and equivalents |  | 76,259 |
Restricted cash |  | 15,866
Receivables from brokers, dealers and clearing organizations |  | 13,734 |
Other receivables |  | 37,163
Other intangibles |  | 620,100
Other assets |  | 30,482
Total identifiable assets acquired |  | $ | 793,604 |
Liabilities |  |
Accrued advisory and commission expenses payable |  | 32,756
Accounts payable and accrued liabilities |  | 58,691
Deferred tax liabilities |  | 110,643
Other liabilities |  | 26,409
Total liabilities assumed |  | $ | 228,499 |
Net assets acquired |  | 565,105 |
Goodwill |  | $ | 307,869 |
________________ (1)During the year ended December 31, 2025, the Company recorded purchase accounting adjustments that resulted in a $15.4 million decrease in total consideration, a $13.5 million decrease in advisor relationships, a $6.3 million decrease in institutional relationships, a $4.8 million decrease in other receivables, a $5.2 million increase in other assets, a $1.3 million decrease in deferred tax liabilities, and a $6.2 million increase in accounts payable and accrued liabilities. These cumulative adjustments resulted in an $8.9 million increase to goodwill.
Business Acquisition, Pro Forma Information | The following table presents unaudited pro forma results as if the acquisition of Commonwealth had occurred on January 1, 2024 (dollars in thousands):
|  | Years Ended December 31,
LPL Financial and Commonwealth Pro Forma Combined Financial Information (unaudited) |  | 2025 | 2024
Total revenue |  | $ | 18,634,628 |  | $ | 15,073,569 |
Net income |  | $ | 1,330,159 |  | $ | 536,737 |
The following table presents unaudited pro forma results as if the acquisition of Atria had occurred on January 1, 2024 (dollars in thousands):
|  |  | Year Ended December 31,
LPL Financial and Atria Pro Forma Combined Financial Information (unaudited) |  |  | 2024
Total revenue |  |  | $ | 12,998,942 |
Net income |  |  | $ | 982,067 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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