LPLA Announces Y/Y Rise in Brokerage and Advisory Assets in November

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].