LPL Financial Reports Monthly Activity for November 2025

Core Insights - LPL Financial Holdings Inc. reported a total advisory and brokerage assets of $2.36 trillion at the end of November 2025, reflecting an increase of $12.5 billion or 0.5% from October 2025 [1]. Group 1: Advisory and Brokerage Assets - Advisory assets reached $1,385.9 billion, up 0.8% from October 2025 and up 42.3% year-over-year [4]. - Brokerage assets totaled $977.6 billion, a slight increase of 0.1% from October 2025 and a year-over-year growth of 24.4% [4]. - The total advisory and brokerage assets increased by 34.3% compared to November 2024 [4]. Group 2: Organic and Acquired Net New Assets - Total organic net new assets for November were $6.7 billion, representing a 3.4% annualized growth rate [2]. - Organic net new advisory assets were $8.3 billion, while organic net new brokerage assets were negative at -$1.7 billion [4]. - Total acquired net new assets remained at $0.0 billion for both advisory and brokerage segments [4]. Group 3: Client Cash Balances - Total client cash balances decreased to $54.6 billion, down $0.3 billion from October 2025 [3]. - The conversion of $1.6 billion from sweep money market funds to purchased money market funds impacted cash balances [3]. - Net buying activity in November was reported at $12.9 billion [3]. Group 4: Market Drivers - The S&P 500 Index ended at 6,849, a marginal increase of 0.1% from October 2025 and a 13.5% increase year-over-year [5]. - The Russell 2000 Index rose to 2,500, reflecting a 0.9% increase month-over-month and a 2.7% increase year-over-year [5]. - The average Fed Funds daily effective rate decreased by 4.9% from October 2025 and by 16.6% year-over-year [5].