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CHARLOTTE, N.C. — Linsco Private/Ledger Corp. has made another significant company change, this time announcing its plans to buy UVEST Financial Services, one of the country’s largest providers of third-party brokerage services to financial institutions.

Under the terms of the agreement, the UVEST management team will remain in place and continue to operate from its Charlotte headquarters, LPL said. UVEST President/COO Dan Arnold will become CEO of UVEST as well as assume oversight and responsibility for LPL’s Financial Institution Services business. He will report to Mark Casady, chairman, CEO and president of LPL. UVEST Founder and Chairman John Robison will retire upon completion of the transaction and assume the title of chairman emeritus. Financial terms were not disclosed and the transaction, still subject to regulatory approval, is expected to close later this year.

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