SAN DIEGO and WALTHAM, Mass., March 31, 2025 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (NASDAQ:LPLA) (together with its subsidiaries, including LPL Financial LLC, "LPL Financial" or "LPL") today announced that it has entered into a definitive purchase agreement to acquire Commonwealth Financial Network ("Commonwealth"), the largest independently owned wealth management firm in the country. Headquartered in Waltham, Mass., Commonwealth provides integrated business solutions and services for approximate ...

Core Insights - LPL Financial LLC has announced that financial advisor Austin Greer has joined its employee advisor channel, Linsco by LPL Financial, to establish Oxford Oaks Capital, managing approximately $600 million in advisory, brokerage, and retirement plan assets [1][2] Group 1: Advisor Background and Experience - Austin Greer has over 17 years of experience in the financial services industry, focusing on retirement income planning, tax, and estate planning for high-net-worth clients [2] - Greer transitioned from a potential career as a high school English teacher to financial services, following his father's path [2] Group 2: Team Composition - The team includes Wealth Advisor John Dunahoo, who has been with the firm for over 11 years, and Senior LPL Registered Service Associate Stephanie DePriest, who joined in 2020, both contributing significant knowledge and a client-first approach [3] Group 3: Reasons for Transition to LPL - The team sought more autonomy, enhanced technology, and office efficiencies, leading them to choose LPL for their next business chapter [4] - The Linsco model appealed to the team for its independence, allowing them to own client relationships and operate flexibly [4] Group 4: Benefits of Joining LPL - Greer highlighted LPL's investment in resources and technology as a key factor in their decision, anticipating increased office efficiencies and enhanced service capabilities [5] - The pro-advisor culture at LPL allows the team to focus on delivering exceptional client service [5] Group 5: Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting nearly 29,000 financial advisors and managing approximately $1.7 trillion in brokerage and advisory assets for around 6 million Americans [7]

Core Insights - LPL Financial reported a total advisory and brokerage assets of $1.82 trillion at the end of February 2025, reflecting an increase of $11.3 billion or 0.6% from January 2025 [1] - The company achieved total net new assets of $24.5 billion in February, which included $0.7 billion of acquired net new assets [1] Advisory and Brokerage Assets - Advisory assets reached $995.0 billion, up 0.3% from January 2025 and up 29.5% year-over-year [4] - Brokerage assets totaled $828.2 billion, increasing by 1.1% month-over-month and 30.4% year-over-year [4] - Total advisory and brokerage assets amounted to $1,823.1 billion, marking a 0.6% increase from January 2025 and a 29.9% increase year-over-year [4] Net New Assets - Total organic net new assets for February were $23.8 billion, representing a 15.8% annualized growth rate [2] - The organic net new advisory assets were $9.6 billion, while organic net new brokerage assets were $14.1 billion [4] - Total net new assets decreased from $34.1 billion in January to $24.5 billion in February [4] Client Cash Balances - Total client cash balances at the end of February were $51.3 billion, down $0.9 billion from January 2025 [3] - The net buying activity in February was $14.3 billion [3] Market Drivers - The S&P 500 Index closed at 5,955, a decrease of 1.4% from January 2025, but up 16.8% year-over-year [5] - The Russell 2000 Index fell by 5.5% month-over-month, closing at 2,163 [5] - The average Fed Funds daily effective rate remained at 433 basis points, down 18.8% from the previous year [5] Company Overview - LPL Financial Holdings Inc. is a leading wealth management firm in the U.S., supporting nearly 29,000 financial advisors and servicing approximately $1.7 trillion in brokerage and advisory assets [6]

Core Insights - LPL Financial LLC has welcomed financial advisors Larry Hubbard, Craig Conner, and Jade Maasch, who have transitioned from Ameriprise, bringing approximately $275 million in advisory, brokerage, and retirement plan assets [1][2][3] Group 1: Company Transition - The advisors have rebranded their firm as Legacy Premier Wealth Management after leaving Alliance Financial Partners [2] - The team is based in Greeley, Colorado, and Cheyenne, Wyoming, and is supported by Chief Operating Officer Rob Timme [2] Group 2: Mission and Vision - The advisors aim to help clients create a lasting legacy and navigate financial decisions with confidence [3] - Their move to LPL was driven by the desire for a firm that aligns with their vision for future growth and client service [3][4] Group 3: Benefits of Joining LPL - LPL's non-proprietary investment product offering allows the advisors to provide tailored services to their clients [4] - The integrated, open architecture platform of LPL enables seamless access to necessary resources with a single sign-on [4] - LPL Financial supports nearly 29,000 financial advisors and manages approximately $1.7 trillion in brokerage and advisory assets [7]

Core Insights - LPL Financial LLC has announced the addition of four financial advisors who collectively manage approximately $475 million in advisory, brokerage, and retirement assets, joining from Wells Fargo Advisors and Edward Jones [1][2][10] - Carnegie Private Wealth, launched in 2023, has experienced significant growth by leveraging LPL's resources and attracting advisors who prioritize client relationships and exceptional service [2][8] Group 1: New Advisors - James Larsen, with 18 years in international business management, aims to provide clients with peace of mind in wealth management and chose LPL and Carnegie for business continuity [3][4] - Lucas Decker has built a practice focused on strategic financial solutions for business owners and pre-retirees, valuing the advanced planning resources at Carnegie [5][6] - Kevin Lewis, a financial advisor for 10 years, emphasizes understanding clients' unique stories and goals, and appreciates the collaborative environment at Carnegie [6][7] - Seth Miller, who began his career in financial services in college, focuses on wealth preservation for young professionals and business owners, finding the move to Carnegie an obvious choice [7][8] Group 2: Company Growth and Strategy - Carnegie Private Wealth's growth reflects its commitment to exceptional client service and professional excellence, supported by LPL's innovative technology and resources [8][10] - Jordan Raniszeski, Senior Managing Partner of Carnegie, highlighted the strategic expansion as a means to enhance client service and expertise [9][10] - Scott Posner from LPL emphasized the importance of client-centric advisors and the firm's commitment to supporting their growth through differentiated business solutions [10] Group 3: LPL Financial Overview - LPL Financial is one of the fastest-growing wealth management firms in the U.S., supporting nearly 29,000 financial advisors and managing approximately $1.7 trillion in assets for around 6 million Americans [12] - The firm offers a variety of advisor affiliation models, investment solutions, and fintech tools, allowing advisors to choose the resources they need to succeed [12]

Core Insights - LPL Financial LLC has welcomed financial advisor Justin Lotano, who manages approximately $250 million in advisory, brokerage, and retirement assets, to its platforms from Wells Fargo Advisors Financial Network [1][2]. Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting nearly 29,000 financial advisors and approximately 1,200 financial institutions, with around $1.7 trillion in brokerage and advisory assets [6]. Team Composition - Justin Lotano's team includes Joe Burgard, a recent financial advisor, along with registered representative Kevyn Marteniz and staff members TJ Savona and Gianna Granato [2]. Team Philosophy - The team, with an average age of about 30, emphasizes building long-lasting relationships with clients and assisting them through significant life transitions, including retirement and divorce [3]. Business Strategy - Lotano expressed that working with LPL allows for brand building and business growth on his terms, highlighting LPL's investment in technology and operational support as key advantages [4]. Community Engagement - Lotano is actively involved in his community as the president of the Colts Neck Lions Club and is proud to establish Shorepoint Wealth Management in his hometown [3]. LPL's Commitment - Scott Posner, LPL's Executive Vice President of Business Development, stated that LPL is dedicated to empowering advisors with essential tools and support to create value for clients and grow their practices [4].

Core Insights - LPL Financial has welcomed financial advisor Michael Carmichael, who manages approximately $190 million in advisory, brokerage, and retirement plan assets, to its platforms [1][2][4] - Carmichael aims to enhance his business and client experiences by leveraging LPL's resources and M&A support [4][6] Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting nearly 29,000 financial advisors and servicing approximately $1.7 trillion in brokerage and advisory assets for around 6 million Americans [6] - The firm offers a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services, allowing advisors to choose the business model and resources that best suit their needs [6] Advisor Background - Michael Carmichael has over 20 years of experience in financial services and previously served eight years in the U.S. Marine Corps during the Gulf War [2][3] - He operates with a team of five support staff to provide comprehensive wealth management services, including investments, risk management, tax strategies, retirement income planning, and estate planning [2]

Core Insights - LPL Financial has welcomed financial advisors from Townsgate Wealth Management, who manage approximately $1.15 billion in advisory, brokerage, and retirement assets, transitioning from Wells Fargo Advisors Financial Network [1][2][3] Group 1: Company Overview - Townsgate Wealth Management, founded in 2016, focuses on high-net-worth individuals, families, and business owners, providing personalized investment strategies [2] - The firm emphasizes a fiduciary approach, prioritizing client goals in wealth preservation, legacy building, and wealth sharing [3] Group 2: LPL Financial's Position - LPL Financial is recognized as one of the fastest-growing wealth management firms in the U.S., supporting nearly 29,000 financial advisors and managing approximately $1.7 trillion in assets [6] - The firm offers various advisor affiliation models, investment solutions, and technology resources, allowing flexibility for advisors to operate their businesses effectively [6]

Financial Performance - The company reported a significant increase in revenue, reaching $1.5 billion, representing a 15% year-over-year growth[10] - User data showed an increase in active users to 2.3 million, up 20% compared to the previous year[10] - The company provided an optimistic outlook, projecting revenue growth of 10-12% for the next fiscal year[10] - New product launches are expected to contribute an additional $200 million in revenue over the next year[10] - The company plans to increase its dividend payout by 5% in the upcoming quarter[10] - The debt-to-equity ratio remains stable at 0.4, indicating strong financial health[10] Market Strategy - The company is expanding its market presence, targeting a 25% increase in market share in the next two years[10] - A strategic acquisition of a competitor is anticipated to enhance service offerings and add $300 million in annual revenue[10] - Strategic acquisitions and investments are being pursued, which may influence the Company's capital management plans and liquidity[22] Operational Efficiency - Investment in new technology is projected to improve operational efficiency by 15%[10] - The Company is focused on realizing synergies, expense savings, and service improvements from its investments and acquisitions[22] Risk Management - The company is focused on risk management strategies to mitigate potential market fluctuations[10] - The Company must manage operating risks, information technology systems risks, cybersecurity risks, and sourcing risks effectively[22] Business Challenges - The Company faces difficulties and delays in onboarding assets from acquired, recruited, or transitioned advisors, which may be affected by regulatory approvals[22] - There are potential disruptions in the Company's business that could impact relationships with advisors and their clients[22] - The performance of third-party service providers is essential as business processes transition to them[22] - The transition of advisors affiliated with Atria or Prudential Financial, Inc. to the Company is under consideration, impacting asset reporting[22] - The price, availability, and trading volumes of the Company's common stock will affect future share repurchases[22] - The execution of the Company's capital management plans is critical, including compliance with its amended credit agreement and revolving credit facility[22] - The Company is monitoring changes in the growth and profitability of its fee-based offerings and asset-based revenues[22]

Core Insights - LPL Financial reported a total advisory and brokerage assets of $1.81 trillion at the end of January 2025, reflecting an increase of $71.1 billion or 4.1% from December 2024 [1][5]. Asset Growth - Total net new assets for January amounted to $34.1 billion, which included $0.1 billion from acquired net new assets due to Liquidity & Succession activity [2]. - Organic net new assets for January were $34.0 billion, representing a 23.4% annualized growth rate, with significant contributions from Prudential Advisors ($13.5 billion) and Wintrust Investments ($15.2 billion) [3]. Client Cash Balances - Total client cash balances decreased to $52.2 billion at the end of January, down by $2.9 billion from December 2024, with net buying activity recorded at $14.5 billion [4][6]. Detailed Financial Metrics - Advisory assets reached $992.4 billion, up 3.7% month-over-month and 34.0% year-over-year, while brokerage assets increased to $819.4 billion, a 4.6% month-over-month rise and 31.9% year-over-year [5]. - Total organic net new assets rose to $34.0 billion from $25.5 billion in December, with advisory and brokerage assets contributing significantly to this growth [5]. Market Performance - The S&P 500 Index closed at 6,041, a 2.7% increase from the previous month and a 24.7% increase year-over-year, while the Russell 2000 Index rose by 2.6% month-over-month and 17.5% year-over-year [6].