LPL Financial(US:LPLA) Globenewswireยท2025-01-30 21:07Key Financial Results - For Q4 2024, the company reported a net income of $271 million, translating to diluted earnings per share (EPS) of $3.59, which is a 26% increase from Q4 2023 [4][8] - Adjusted EPS increased by 21% year-over-year to $4.25 [4] - Gross profit rose by 22% year-over-year to $1,228 million [4] - Total revenue for Q4 2024 was $3,512 million, a 13% increase from the previous quarter [23] Key Business Results - Total advisory and brokerage assets increased by 29% year-over-year to $1.7 trillion [4] - Advisory assets grew by 30% year-over-year to $957 billion, representing 55.0% of total assets [4] - The company onboarded $63 billion of assets from Prudential in Q4 2024 [3][5] - Record recruited assets reached $79 billion, including $63 billion from Prudential [4] Key Capital and Liquidity Results - Total client cash balances increased by $9 billion sequentially to $55 billion [4] - Corporate cash stood at $479 million, with a leverage ratio of 1.89x [4] - Share repurchases amounted to $100 million, and dividends paid were $23 million in Q4 2024 [4] Key Updates - The company completed the acquisition of Atria and expects to finalize the conversion in mid-2025 [12] - In January 2025, the company onboarded the wealth management business of Wintrust, with $16 billion of brokerage and advisory assets [5] - The company plans to slow the growth of Core G&A in 2025, with an outlook range of $1,560 million to $1,600 million, excluding Prudential and Atria [12]