Company Overview - LPL Financial LLC announced the addition of father and son financial advisors Bart Lewellyn and Alex Lewellyn to its broker-dealer, RIA, and custodial platforms [1] - The Lewellyns reported serving approximately $320 million in advisory, brokerage, and retirement plan assets [1] - They joined LPL from Osaic and rebranded their practice from Lewellyn Financial Management to Lewellyn Wealth [4] Business Model and Services - Bart Lewellyn established the firm in 1995 to help clients accumulate wealth and invest assets in a goal-oriented manner [2] - Alex Lewellyn joined the firm in 2012, and together they provide investment services, retirement planning, insurance strategies, and complex planning services [2] - Their client base includes lineman engineers, business owners, and multigenerational families [2] - The Lewellyns prioritize providing clients with a comprehensive understanding of investment options and focus on those with the greatest potential for success [3] Strategic Transition to LPL - The Lewellyns chose LPL after an extensive due diligence process, seeking independence, discretion, and the ability to operate in their clients' best interests [4] - LPL offers innovative technology, support, and flexible solutions, which align with the Lewellyns' commitment to high-level client service [4] - Scott Posner, LPL Executive Vice President, emphasized LPL's vision to support advisors in maximizing their success and building stronger client connections [4] Industry Context - LPL Financial Holdings Inc is one of the fastest-growing wealth management firms in the US, supporting over 28,000 financial advisors and approximately 1,200 financial institutions [6] - The firm services and custodies approximately $1.8 trillion in brokerage and advisory assets on behalf of 6 million Americans [6] - LPL provides a wide range of advisor affiliation models, investment solutions, fintech tools, and practice management services [6] Media and Contact Information - Media contact details for LPL Financial are provided, including an email address and phone number [9]

SAN DIEGO, Jan. 06, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor John Somerville has joined LPL's employee advisor channel, Linsco by LPL Financial, to launch Somerville Wealth Management. He reported serving approximately $280 million in advisory, brokerage and retirement plan assets* and joins LPL from D.A. Davidson & Co. He will operate from a new Linsco office in Santa Barbara, Calif. With more than 40 years of experience in the financial services industry, Somervill ...

Core Insights - LPL Financial is enhancing its financial technology and investment solutions to improve advisor-client interactions and deliver personalized financial advice [1][2][3] Investment in Technology - In 2024, LPL invested approximately $500 million in technology innovation and infrastructure enhancements, resulting in over 250 new product enhancements that positively impacted advisor and client experiences [2] - The firm launched AI Advisor Solutions to help advisors integrate AI tools while managing compliance and regulatory risks, with plans to expand AI-powered solutions in the coming year [3] Technology Enhancements - Key updates in Q4 include a modernized money disbursement process, redesigned mobile app interface, enhanced client reporting capabilities, and advanced portfolio modeling tools in the ClientWorks platform [4] - The ClientWorks Rebalancer received updates to improve user experience, including session history viewing and a streamlined dashboard [4] Leadership Expansion - LPL has strengthened its technology leadership by appointing Sid Vyas as Chief Technology Officer of Infrastructure and Operations and Renana Friedlich as Chief Information Security Officer [5] Industry Recognition - LPL received the "Artificial Intelligence—Customer Engagement" award at the Datos Insights 2024 Digital Wealth Management Impact Awards, and several executives were recognized with ORBIE® Awards for their technology leadership [6] Company Overview - LPL Financial Holdings Inc. is a leading wealth management firm in the U.S., supporting over 28,000 financial advisors and approximately 1,200 financial institutions, managing around $1.8 trillion in assets for 6 million Americans [8]

Core Viewpoint - LPL Financial (LPLA) experienced significant growth in total brokerage and advisory assets in November 2024, indicating strong performance in the financial services sector [1]. Group 1: Asset Performance - Total brokerage and advisory assets reached $1.76 trillion, reflecting a 5.1% increase from the previous month and a 35.3% increase year over year [1]. - Brokerage assets were reported at $785.6 billion, up 3% from October 2024 and 31.3% year over year [2]. - Advisory assets totaled $973.8 billion, increasing by 6.9% from the previous month and 38.7% from November 2023 [2]. Group 2: New Assets and Cash Balances - Total net new assets (NNAs) amounted to $35 billion in November, with $0.8 billion from acquired NNAs and $34.2 billion from organic sources [3]. - The company reported a total client cash balance of $50.5 billion, which is a 4.6% increase from the prior month and an 8.4% increase from November 2023 [4]. - Of the total cash balance, $34.8 billion was insured cash and $9.9 billion was deposit cash [4]. Group 3: Strategic Outlook - LPL Financial's planned acquisition of Investment Center and the recent acquisition of Atria Wealth are expected to enhance advisory revenues and diversify operations [5]. - The company has seen a 49.2% increase in shares over the past three months, outperforming the industry growth of 17.9% [6]. Group 4: Peer Performance - Charles Schwab (SCHW) reported total client assets of $10.31 trillion in November 2024, up 5% from October and 26% year over year [8]. - Interactive Brokers Group, Inc. (IBKR) reported a significant increase in client Daily Average Revenue Trades (DARTs), reaching 3,306,000, which is a 74.2% increase from November 2023 [9].

SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for November 2024. Total advisory and brokerage assets at the end of November were $1.76 trillion, an increase of $86.0 billion, or 5.1%, compared to the end of October 2024. Total net new assets for November were $35.0 billion, which included $0.8 billion of acquired net new assets resulting from ...

SAN DIEGO, Dec. 16, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that Marc Cohen has been promoted to managing director, Business Strategy and Innovation, and has joined the LPL Financial Management Committee. In this role, Marc will continue to lead the development of the firm’s corporate strategy and expand his responsibilities to include leading business line and affiliation strategy for independent advisors, large enterprises and institutional channels. In addition, Cohen now leads the com ...

Company Overview - LPL Financial (LPLA) shares increased by 3.1% following the announcement of a rise in total brokerage and advisory assets, reaching $1.67 trillion, which represents a growth of 5.1% month-over-month and 37.2% year-over-year driven by strong market performance and the acquisition of Atria Wealth Solutions, Inc. [1] Asset Breakdown - Of LPLA's total assets, brokerage assets were $762.7 billion, reflecting an 8.9% increase from September 2024 and a 34.8% increase year-over-year. Advisory assets totaled $910.6 billion, up 2.1% from the previous month and 39.3% from October 2023 [2]. New Assets - Total net new assets (NNAs) for October were $96.6 billion, which included $0.3 billion from Liquidity & Succession activity and $88 billion from the Atria acquisition. Organic NNAs were $8.3 billion, with $1 billion off-boarded as part of a planned separation, resulting in adjusted organic NNAs of $9.3 billion [3]. Client Cash Balance - The total client cash balance reported in October was $48.3 billion, an increase of 5.5% from the prior month and 3.6% from October 2023. This included $34.7 billion in insured cash and $9.7 billion in deposit cash [4]. Market Performance - Over the past three months, LPLA's shares have surged by 45.1%, significantly outperforming the industry average increase of 21.1% [6]. Competitive Landscape - In comparison, Interactive Brokers Group, Inc. (IBKR) reported a 46% increase in client Daily Average Revenue Trades (DARTs) year-over-year, totaling 2,823,000 for October 2024 [8]. Charles Schwab (SCHW) reported core NNAs of $24.6 billion, a substantial increase from $11.3 billion year-over-year, but a decline from the previous month's $33.5 billion [9]. SCHW's total client assets were $9.85 trillion, up 28.7% year-over-year [10].

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What ar ...

Group 1 - The Zacks Style Scores provide a unique rating system for stocks based on value, growth, and momentum, helping investors identify securities with high potential to outperform the market in the short term [2][3][4] - Each stock is rated from A to F, with A indicating the highest potential for outperformance, and the Style Scores are categorized into Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5] - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to assist investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [6][7] Group 2 - LPL Financial Holdings Inc. is identified as a stock to watch, currently holding a 3 (Hold) rating on the Zacks Rank, with a VGM Score of A, indicating strong potential [11] - The company is projected to experience year-over-year earnings growth of 1.3% for the current fiscal year, with upward revisions in earnings estimates from analysts [12] - The Zacks Consensus Estimate for LPLA has increased by $0.07 to $15.92 per share, and the company has an average earnings surprise of 9%, making it a strong candidate for growth investors [12]

Financial Data and Key Metrics Changes - Total assets reached a record $1.6 trillion, with organic net new assets of $27 billion, representing a 7% annualized growth rate [10] - Adjusted EPS for the quarter was $4.16, with gross profit of $1.128 billion, up $49 million sequentially [25] - Client cash revenue was $372 million, up $11 million from Q2, with overall client cash balances ending at $46 billion, an increase of $2 billion sequentially [26] Business Line Data and Key Metrics Changes - Recruited assets for Q3 were $26 billion, with a total of $87 billion for the trailing 12 months, both records excluding large institution onboarding [12] - In the traditional independent market, recruiting reached approximately $23 billion in assets, marking a new quarterly high [13] - Service and Fee revenue was $146 million in Q3, up $11 million from Q2 [28] Market Data and Key Metrics Changes - The company is preparing to onboard the retail wealth management businesses of Prudential Financial and Wintrust Financial, expected to add approximately $76 billion of brokerage and advisory assets by early 2025 [14] - The company has made significant progress in the large institution marketplace, enhancing its capabilities to serve larger institutions [60] Company Strategy and Development Direction - The long-term vision is to become the leader in the advisor-centered marketplace, focusing on creating a culture and capabilities for sustainable outperformance [9] - The strategy includes investing back into the platform and providing unmatched flexibility for advisors [11] - The company aims to drive operating leverage through efficiency improvements and operational transformation [46][92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for investor advice and the attractiveness of the independent model, which positions the company favorably in the marketplace [48][49] - The management team emphasized the importance of maintaining client centricity and empowering employees to make decisions that support client success [43][44] Other Important Information - The company closed the acquisition of Atria Wealth Solutions, welcoming approximately 2,200 advisors and 160 institutions [14] - The company plans to restart share repurchases in Q4, anticipating buying back $100 million of shares [39] Q&A Session Summary Question: Key priorities for the business over the next one to two years - Management identified three top priorities: maintaining client centricity, empowering employees, and driving operating leverage [43][46] Question: Sources of growth in cash balances - Management noted that cash balances are stabilizing and emphasized the importance of organic growth in driving future cash balance increases [55] Question: Strategic vision for institutional and private wealth channels - Management discussed the growth opportunities in the institutional channel and the private wealth market, highlighting the company's capabilities and partnerships [60][68] Question: Free cash flow conversion and cash liquidity objectives - Management indicated a focus on maintaining a leverage ratio of 1.5x to 2.5x and returning to typical cash levels around $200 million [96][98] Question: Liquidity and succession offering traction - Management highlighted the unique liquidity and succession solutions being well-received by advisors, enhancing recruitment efforts [81][84]