The deal values the combined entity, Binah Capital Group, at $208 million. It starts trading under the ticker BCG.

The Regal Wealth Advisors team joined Summit Financial Networks, the OSJ run by Marshall Leeds.

The final impact has yet to be determined.

One equity analyst said the acquisition of Atria transforms LPL into a “category killer” in the enterprise space.

“We got tired of being shuffled around like cattle from private equity. We had no idea which direction Osaic is going,” said Jason Hohenstein, co-founder of the Equity Design Group.

Osaic’s acquisition of Lincoln will have minimal impact on the wealth management firm’s debt leverage and interest coverage, the ratings agencies said.

S&P estimates Osaic will pay $1.04 billion, including transaction costs and retention loans to Lincoln advisors.