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SAN DIEGO — At the time when credit union broker-dealer XCU Capital Corp. merged with LPL Financial Corp last August, it had the option of closing down its “shell” or selling it. The CUSO said it was approached by $15 billion State Employees’ Credit Union and the deal was finalized earlier this year.

That’s according to Mark Hoaglin, senior vice president, credit unions at LPL and former president/CEO of XCU Capital. SECU was a former XCU Capital client and opted not to sign on with LPL after the merger last year.

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