LPL Financial Holdings Inc. (LPLA) shares plunged 8.10% in pre-market trading on Friday, despite the company announcing the completion of its acquisition of Commonwealth Financial Network. The significant drop comes as a surprise, considering the potentially positive news surrounding the company.

LPL Financial has finalized its acquisition of Commonwealth Financial Network, a wealth management firm with approximately 3,000 advisors managing $305 billion in assets. As part of the deal, Commonwealth's CEO, Wayne Bloom, will join LPL's management committee as a managing director while maintaining his role at Commonwealth. The acquisition, which was initially announced on March 31, 2025, aims to enhance advisor success through LPL's technology and wealth management solutions.

The sharp decline in LPL Financial's stock price, despite the completion of this major acquisition and a recent target price increase by Barclays (from $460 to $463), suggests that investors may have concerns about the integration process, potential risks associated with the acquisition, or other undisclosed factors affecting the company's outlook. Market participants will likely be closely watching for further details and guidance from LPL Financial regarding the impact of this acquisition on its future performance and growth prospects.