Core Insights - A South Carolina-based team managing approximately $1.25 billion in client assets is transitioning from UBS to join LPL Financial, forming an independent practice named Ox Road Capital [1][2] - The team, which includes four principals and additional associates, primarily serves ultra-high-net-worth individuals, C-Suite executives, and medical professionals [3] - The decision to move was driven by a desire to build a lasting legacy and brand, as the team felt they had entered a new "season" in their business [3] Team Background - The team is based in Greenville, S.C., and has been together since 2016, with all members having spent their careers at UBS, except for one who had a prior stint at JPMorgan [2] - The team consists of Jeffrey Allen, Steve Armaly, Brian Blackburn, and Michael S. Lee, along with several associates [3] Transition to LPL Financial - The team conducted due diligence on potential partners and ultimately chose LPL's supported independent model, which offers greater autonomy compared to traditional employment structures [4][5] - LPL Financial's Strategic Wealth Services, launched in 2020, is designed for advisors exiting wirehouses or regional firms, particularly those managing over $200 million [5] Support from LPL Financial - LPL will provide various transitional services to the new team, including assistance with their exit from UBS, client onboarding, real estate search, technology integration, and brand development [6] - Additional support includes access to third-party CFO consultants, marketing strategists, tech support, and administrative assistance [6]

Core Insights - LPL Financial LLC has announced the launch of a new independent practice, Ox Road Capital, by financial advisors Jeffrey S. Allen, Steve N. Armaly, Brian A. Blackburn, and Michael S. Lee, who collectively manage approximately $1.25 billion in advisory, brokerage, and retirement plan assets [1][2][12] - The team, based in Greenville, S.C., has nearly 100 years of combined experience and serves a diverse national client base, including ultra-high-net-worth individuals and various professionals [2][3] Group 1: Team Formation and Philosophy - The team was formed in 2016, leveraging individual strengths to create a collaborative environment focused on client relationships rather than transactions [3][4] - Decision-making within the team is based on unanimous agreement, emphasizing a structured approach to financial planning [3] Group 2: Transition to LPL Financial - The advisors chose to affiliate with LPL Financial's Strategic Wealth Services to build a legacy and establish their own brand, moving beyond the traditional employee model [4][6] - LPL's supported independence model offers a combination of entrepreneurial freedom and comprehensive business support, which was a significant factor in their decision [5][6] Group 3: Support and Resources - LPL Financial provides a wealth management platform that includes technology, simplified pricing, and dedicated operational support, allowing advisors to focus on client needs [6][7] - The transition process includes access to a dedicated team for ongoing support in various business aspects, enhancing the advisors' ability to serve their clients effectively [6][7] Group 4: Company Overview - LPL Financial is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and managing approximately $1.9 trillion in assets [10][12] - The firm offers a range of advisor affiliation models and practice management services, ensuring flexibility for advisors to choose the best resources for their businesses [10]

Core Insights - LPL Financial LLC has announced that The Capitol Bay Group has joined Upstream Investment Partners, bringing approximately $375 million in advisory, brokerage, and retirement plan assets [1][2] - The Capitol Bay Group, based in Tysons, Virginia, is led by John Yetman and Manish Mukhi, who collectively have 70 years of experience focusing on high-net-worth clients, business owners, and retirees [2][3] - The team emphasizes a holistic approach to financial planning, addressing clients' entire financial situations and prioritizing their specific goals [3] Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions [6] - The firm services and custody approximately $1.9 trillion in brokerage and advisory assets for around 7 million Americans [6] - LPL offers a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services, allowing advisors to choose the resources they need [6] Reasons for Transition - The Capitol Bay Group chose to partner with LPL Financial for three main reasons: independence, a broader range of investment options, and a supportive culture that values client relationships [4] - The team sought more autonomy and tools to enhance their client offerings, which they believe LPL provides [3][4] - LPL Financial continues to invest in capabilities and solutions to help advisors grow their businesses and deliver differentiated service experiences [4]

Core Insights - LPL Financial's annual conference revealed that 78% of financial advisors are utilizing or planning to use AI tools to enhance business capacity in 2025 [1][2] - The firm invested $470 million in technology development in 2024, focusing on advisor feedback to improve operational efficiency and client experience [3] - A significant portion of advisors (66%) are adopting new technologies to create capacity, with 54% planning to grow their businesses through technology upgrades [2][4] Technology Adoption - More than half of LPL advisors (54%) aim to grow their businesses by upgrading technology systems, including AI and automation tools [2] - Only 12% of advisors see disruptive technology as a major challenge, compared to 23% citing economic volatility and sustaining growth [2] Investment and Innovation - LPL showcased innovations at Focus 2025, including expanded AI tools, major infrastructure investments, and a $50 million initiative to transform advisor compensation [3] - The firm is focused on automating time-consuming processes to enhance advisor efficiency and accuracy [3] Advisor Priorities - Advisors are looking to expand wealth management services, with 18% planning to offer alternative investments and 37% aiming to provide additional planning services [4] - A focus on serving higher-net-worth clients is evident, with 34% prioritizing wealth planning services and 24% cultivating relationships with CPAs and attorneys [4] Client Interests - Advisors reported that clients are most concerned about market volatility (62%), goals-based financial planning (50%), and tax optimization (49%) [5]

Core Insights - LPL Financial LLC has announced that Concentric Wealth Management has joined its broker-dealer and Registered Investment Advisor (RIA) platform, managing approximately $715 million in advisory, brokerage, and retirement plan assets [1][4]. Group 1: Company Overview - Concentric Wealth Management, based in Cincinnati, Ohio, has evolved from an accounting firm established over 40 years ago to a wealth management firm over the past 15 years, serving a diverse clientele including business owners, retirees, and affluent households [2]. - The team at Concentric Wealth Management is led by Patrick Burke and Matt Tarka, who emphasize a collaborative and relationship-driven approach to client service [3]. Group 2: Reasons for Joining LPL Financial - The decision to partner with LPL Financial was driven by significant growth over the past two years and the need for a robust platform to support their long-term vision [4]. - The advisors highlighted LPL's cutting-edge technology, strong alternative investment platform, and comprehensive business solutions as key factors that align with their values and support their growth strategy [5]. Group 3: LPL Financial Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions, with around $1.9 trillion in brokerage and advisory assets [7]. - The firm offers a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services, providing flexibility for advisors and institutions [7].

Core Insights - LPL Financial Holdings Inc. has transitioned the support of First Horizon Bank's broker-dealer and investment advisory services program to its platform, enhancing service capabilities for First Horizon Advisors [1][2] - The integration is expected to provide personalized advice and foster growth and stronger client relationships [2] - As of August 2025, approximately $12 billion of brokerage and advisory assets have been onboarded to LPL, with more expected in the coming months [2] Company Overview: First Horizon Corporation - First Horizon Corporation, with $82.1 billion in assets as of June 30, 2025, is a regional financial services company operating primarily in the southern U.S. [3] - The company offers a wide range of services including commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking [3] - First Horizon has received recognition as one of the best employers and a top reputable bank in the U.S. [3] Company Overview: LPL Financial - LPL Financial Holdings Inc. is a leading wealth management firm in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions [4] - The firm services and custody approximately $1.9 trillion in brokerage and advisory assets for around 7 million Americans [4] - LPL provides various advisor affiliation models, investment solutions, fintech tools, and practice management services to support advisors and institutions [4]

Core Insights - LPL Financial has welcomed Skyward Financial's advisors, who manage approximately $700 million in advisory, brokerage, and retirement plan assets, transitioning from Wedbush Securities [1][2]. Company Overview - Skyward Financial, based in Houston, is led by Matthew Houston, Lynn Houston, and Ross Stripling, with a team of six advisors boasting over 200 years of combined experience [2]. - The firm primarily serves business owners and retirees, with plans to expand its client base to include college athletes [2]. Client Engagement Strategy - Skyward Financial emphasizes a collaborative approach to financial planning, focusing on educating and understanding clients to help them achieve financial freedom [2][3]. - The firm aims to ensure clients are comfortable with their investments and understand their financial strategies [3]. Transition to LPL Financial - The decision to join LPL Financial was driven by the need for enhanced service experiences and a more robust technology platform [3][4]. - Skyward Financial believes that LPL provides the tools of a Wall Street firm while allowing them to maintain independence and their own branding [4]. LPL Financial Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and managing approximately $1.9 trillion in assets [6]. - The firm offers a variety of advisor affiliation models, investment solutions, and fintech tools to help advisors run successful businesses [6].

Core Insights - LPL Financial (NASDAQ: LPLA) has achieved a total return of 911% over the past decade, significantly outperforming the S&P 500, which delivered a total return of 288% during the same period [1]. Performance Analysis - The strong performance of LPL Financial is attributed to robust earnings growth [1].

Core Insights - LPL Financial (LPLA) experienced a rise in total brokerage and advisory assets, reaching $1.94 trillion in July 2025, marking a 1.1% increase from the previous month and a 26.8% increase year over year [1][10]. LPLA's July Performance Breakdown - Brokerage assets totaled $862.4 billion, increasing by 0.5% from June 2025 and surging 27.1% year over year [2][10]. - Advisory assets amounted to $1.1 trillion, rising 1.5% from the previous month and 26.6% from July 2024 [2][10]. Organic Net New Assets (NNAs) - Total organic NNAs were reported at $5.4 billion, which included $1.8 billion of off-boarded assets due to a planned separation from certain offices. Excluding these off-boarded assets, organic NNAs were $7.2 billion [3][10]. Client Cash Balances - LPL Financial reported a total client cash balance of $49.5 billion in July, down 2.2% from the prior month but up 12.5% from July 2024. The breakdown included $33.7 billion in insured cash and $10.8 billion in deposit cash [4][10]. Strategic Outlook - The company’s acquisition of Commonwealth Financial Network, Investment Center, and Atria Wealth, along with strong advisor productivity and recruitment efforts, is expected to bolster advisory revenues. The company is anticipated to continue expanding inorganically to diversify operations [5]. - However, there are concerns regarding the performance of capital markets and the substantial goodwill on the balance sheet [5]. Stock Performance - Over the past year, LPLA shares have increased by 61.4%, outperforming the industry growth of 39% [6].

Core Insights - LPL Financial reported a total advisory and brokerage assets of $1.94 trillion at the end of July 2025, reflecting an increase of $20.2 billion or 1.1% from June 2025 [1] - The company experienced total organic net new assets of $5.4 billion in July, which corresponds to a 3.4% annualized growth rate [2] - Client cash balances decreased to $49.5 billion, down by $1.1 billion from the end of June 2025, with net buying activity recorded at $13.7 billion [3] Advisory and Brokerage Assets - Advisory assets reached $1,077.0 billion, up 1.5% month-over-month and 26.6% year-over-year [4] - Brokerage assets totaled $862.4 billion, showing a 0.5% increase month-over-month and a 27.1% increase year-over-year [4] - Total advisory and brokerage assets increased to $1,939.4 billion, marking a 1.1% rise month-over-month and a 26.8% rise year-over-year [4] Organic and Acquired Net New Assets - Organic net new advisory assets were $7.5 billion, while organic net new brokerage assets were negative at $(2.0) billion [4] - Total organic net new assets for July were $5.4 billion, down from $8.0 billion in June [4] - There were no acquired net new assets reported for both advisory and brokerage segments [4] Client Cash Balances - Total client cash balances decreased to $49.5 billion, a 2.2% decline from June 2025 [4] - Insured cash account sweep was $33.7 billion, down 1.5% month-over-month, while deposit cash account sweep remained stable at $10.8 billion [4] - The total bank sweep decreased by 1.1% to $44.4 billion, and money market sweep saw a significant decline of 8.1% to $3.4 billion [4] Market Drivers - The S&P 500 Index increased by 2.2% to 6,339, while the Russell 2000 Index rose by 1.7% to 2,212 [4] - The average Fed Funds daily effective rate remained unchanged at 433 basis points, down 18.8% from the previous year [4]