LPL Investment Holdings, which provides an integrated technology platform, clearing services and financial products to independent financial advisors, filed on Friday with the SEC to raise up to $600 million in an initial public offering. The Boston, MA-based company, which was founded in 1989, sold a 60% ownership stake to private equity firms Hellman & Friedman and TPG Capital in 2005, according to its website. LPL Investment Holdings booked $2.9 billion in sales for the 12 months ended March 31st, 2010. It plans to list under the symbol LPLA. Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal, for which terms and timing were not disclosed.
