Wells Fargo analyst Christopher Harris found the Reuters article saying LPL Financial (LPLA) hired Goldman Sachs (GS) to explore strategic alternatives as a surprise. Recent actions by the company, including a levered stock buyback in December, would seem to suggest a focus on remaining independent, Harris tells investors in a research note. The analyst doesn't see "too many obvious" buyers of the company and thinks investors should not chase the stock on the Reuters story. A private equity transaction would be complicated by the fact that LPL is already fairly levered, the analyst contends. He keeps a Market Perform rating on the shares. JPMorgan this morning downgraded LPL to Neutral.

LPL Financial announced that financial advisors Chris Mukoda, Brad Travis, Jr., CFP, and David Crouse have joined LPL Financial's broker-dealer, RIA and custodial platforms, aligning with Momentum Wealth Partners, an existing firm supporting LPL-affiliated advisors. They reported serving approximately $415 million in advisory, brokerage and retirement plan assets, and join LPL from PNC Investments. With the move, the team - which shares more than 75 years of combined financial services experience - launches Sussex Wealth Partners, an independent financial practice based in the Sussex County town of Lewes, Del. The new practice, located inside a former art gallery, was designed by the team's partner and office manager, Natalie Fowler, and brought to life by her husband, Anthony. The space gives an elevated and intimate feel - much like the experience the Sussex Wealth team strives to offer its wide variety of clients.