Company Overview - LPL Financial's total brokerage and advisory assets reached $1.56 trillion at the end of August 2024, marking a 2% increase from the previous month and a 22.7% increase year over year [1] - Brokerage assets accounted for $690.6 billion, growing 1.8% from July 2024 and 17% year over year, while advisory assets totaled $869.5 billion, rising 2.2% from the previous month and 27.7% from August 2023 [1] Net New Assets - Total net new assets (NNAs) for August 2024 were $6.8 billion, which included $0.3 billion from acquired net new assets related to Liquidity & Succession activity [2] - NNAs decreased from $9 billion in July 2024 and $13.1 billion in August 2023; excluding off-boarded assets from a planned separation, total NNAs would have been $10.4 billion [2] Client Cash Balance - The total client cash balance was reported at $43.3 billion in August, down 1.6% from the prior month and 9.2% from August 2023 [3] - Of this total, $30.4 billion was insured cash, $9.3 billion was deposit cash, with the remainder consisting of money-market sweep and client cash balance [3] Market Position and Performance - LPL Financial's recruiting efforts and advisor productivity are expected to support advisory revenues, with plans for strategic acquisitions to diversify operations [4] - However, the company faces a challenging operating backdrop that may impact financial performance in the near term [4] Competitive Landscape - In comparison, Charles Schwab reported core NNAs of $32.8 billion in August 2024, up 13% from the previous month and significantly higher than $4.9 billion in the same month last year [8] - Schwab's total client assets reached $9.74 trillion, reflecting a 2% increase from July 2024 and a 20% increase year over year [8] - Interactive Brokers reported a 40.4% increase in client Daily Average Revenue Trades (DARTs) year over year, totaling 2,712,000 in August 2024 [7]

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Moody's Corp. (MCO) has announced the acquisition of Praedicat, a leading provider of casualty insurance analytics, to enhance its insurance solutions. The details of the transaction have been kept under wraps. Strategic Rationale Behind Moody's Acquisition This deal strengthens Moody's overall risk assessment strategy by adding comprehensive casualty and liability modeling to its portfolio of market-leading solutions for the insurance industry. MCO will incorporate Praedicat's models and predictive analyti ...

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 ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? The Zacks Style ...

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 ...