SAN DIEGO — XCU Capital Corp., the credit union-owned brokerdealer that served more than 30 credit unions, was quietly boughtin August 2007 by LPL Financial Corp, an independent broker-dealerconsidered to be the largest of its kind in the country with morethan 800 clients and $235 billion in assets under management.
According to SEC company filings, LPL Holdings, Inc., awholly-owned subsidiary of LPL Investment Holdings Inc., enteredinto an institutional transfer agreement with XCU Capital on Aug.9, 2007 to transfer and assign existing institutional relationshipsfor a price of $3.62 million.
Heather Randolph Carter, vice president of corporate marketingat LPL, said 23 credit unions converted to LPL Financial fromXCU.
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