Anthony R. Caruso, Esq. of Sills Cummis & Gross, P.C. has successfully negotiated an agreement for his client, Concord Capital Partners, Inc. to be acquired by LPL Investment Holdings Inc. (NASDAQ: LPLA). LPL Financial LLC, the nation's largest independent broker-dealer and wholly owned subsidiary of LPL Investment Holdings, recently announced the intent of its parent company to acquire Concord Capital Partners ("Concord Wealth Management" or & "Concord") and certain of its subsidiaries.

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Concord Wealth Management is an industry leader in providing technology and open architecture investment management solutions for trust groups of financial institutions. Based in Matawan, New Jersey, Concord has over $10 billion in assets under administration. Caruso, a member of the corporate department at Sills and Chair of the Sports Entertainment Group, advises that this proposed strategic combination with his client enables LPL Financial to provide integrated wealth management solutions for financial institutions. Through its Institution Services business unit, LPL Financial is the nation's largest provider of third-party investment services to banks and credit unions.

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Upon completion of this transaction, all Concord employees are expected to join LPL Financial, and Concord's Matawan, New Jersey, office will be retained. The transaction is subject to customary closing conditions and is expected to close during the third quarter of 2011. Caruso and his legal team at Sills Cummis & Gross, P.C. negotiated this transaction with Ropes & Gray, LLP, legal advisor to LPL Financial.

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