Company Overview - LPL Financial's total brokerage and advisory assets reached $1.53 trillion at the end of July 2024, marking a 2.1% increase from the previous month and a 19.6% increase year over year [1] - Brokerage assets were $678.7 billion, growing 1.5% from June 2024 and 14.3% year over year, while advisory assets amounted to $850.6 billion, rising 2.6% from the previous month and 24.3% from July 2023 [2] Net New Assets - Total net new assets (NNAs) for July 2024 were $9 billion, down from $10.8 billion in June 2024 and $11 billion in July 2023. Excluding $0.6 billion of off-boarded assets, NNAs were $9.5 billion [3] Client Cash Balance - The total client cash balance was $44.5 billion in July, stable compared to the prior month but down 8.9% from July 2023. This included $31.1 billion in insured cash and $9.1 billion in deposit cash [4] Strategic Outlook - The company's recruiting efforts and strong advisor productivity are expected to support advisory revenues. Strategic acquisitions are anticipated to aid in diversifying operations, although a challenging operating environment poses near-term headwinds [5] Competitive Landscape - Interactive Brokers Group reported a 38.4% increase in client Daily Average Revenue Trades (DARTs) year over year, totaling 2,756,000 in July 2024 [7] - Charles Schwab reported core net new assets of $29 billion in July 2024, significantly up from $13.7 billion in the same month last year, while total client assets reached $9.57 trillion, a 2% increase from June 2024 and 16% year over year [8][9]

SAN DIEGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Alberto Francis has joined LPL Financial's high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Rockview Private Wealth. He reported having served approximately $725 million in advisory, brokerage and retirement plan assets* and joins LPL from Bank of America Private Bank. Francis, the son of Irish and Mexican immigrants, is a former NCAA Champion and All-American from ...

"We believe our clients deserve the highest level of service, which is why we take a team approach to add a broader perspective to all we do. Our goal is to provide a variety of comprehensive financial planning services and investment strategies with the understanding that each client is unique and deserves personalized attention and tailored services," George Englert said. Kevin Englert added, "We're also very excited about the opportunity to grow our team and evolve our business. As a Fortune 500 company, ...

Asset-Based 26 On February 13, 2024, the Company announced that it had entered into a definitive purchase agreement to acquire Atria, a wealth management solutions holding company headquartered in New York. As part of the agreement, Atria will transition its brokerage and advisory assets to the Company's platform. The Company expects to close the transaction in the second half of 2024 for an initial purchase price of approximately $805 million and potential contingent consideration of up to $230 million bas ...

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With 31 years of financial services experience, Rizza's unique background includes playing professional baseball within the Oakland A's minor league system followed by more than three years as an accountant at a CPA firm in New York City. "As I learned more about the financial services industry, I fell in love with the idea of helping families plan for a more secure financial future," said Rizza, who grew his business organically by word of mouth. The move to LPL was driven by Rizza's desire for enhanced se ...

View all Key Company Metrics for LPL Financial here>>> Shares of LPL Financial have returned -17.4% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. LPL Financial Holdings Inc. (LPLA) reported $2.93 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.8%. EPS of $3.88 for the same period compares to $3.94 a year a ...

LPL Financial Holdings Inc. (LPLA) came out with quarterly earnings of $3.88 per share, beating the Zacks Consensus Estimate of $3.66 per share. This compares to earnings of $3.94 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates four times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's c ...

Investor Relations investor.relations@lplfinancial.com 2 These and any other statements that are not related to present facts or current conditions, or that are not purely historical, constitute forward-looking statements. They reflect the Company's expectations and objectives as of July 25, 2024 and are not guarantees that expectations or objectives expressed or implied will be achieved. The achievement of such expectations and objectives involves risks and uncertainties that may cause actual results, leve ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider LPL Financial Holdings Inc. (LPLA) . This company, which is in the Zacks Financial - Investment Bank industry, shows potential for another earnings beat. This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 8.5 ...