LPL Financial Reports Monthly Activity For May 2023

SAN DIEGO, June 21, 2023 (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 May 2023.

Total advisory and brokerage assets at the end of May were $1.19 trillion, an increase of $2.3 billion, or 0.2%, compared to the end of April 2023.

Total net new assets for May were $8.1 billion, translating to an 8.2% annualized growth rate. Total net new advisory assets were $7.0 billion, translating to a 13.4% annualized growth rate.

Total client cash balances at the end of May were $50.6 billion, a decrease of $0.3 billion compared to the end of April 2023. Net buying in May was $9.5 billion.

(End of period $ in billions, unless noted)	May	April	Change	May	Change
	2023	2023	M/M	2022	Y/Y
Advisory and Brokerage Assets
Advisory assets	629.8	628.2	0.3%	591.8	6.4%
Brokerage assets	560.2	559.5	0.1%	528.6	6.0%
Total Advisory and Brokerage Assets	1,190.0	1,187.7	0.2%	1,120.4	6.2%
Total Net New Assets
Net new advisory assets	7.0	3.4	n/m	5.1	n/m
Net new brokerage assets	1.2	1.0	n/m	19.6	n/m
Total Net New Assets	8.1	4.4	n/m	24.8	n/m
Organic Net New Assets
Net new organic advisory assets	7.0	3.4	n/m	5.1	n/m
Net new organic brokerage assets	1.2	1.0	n/m	19.6	n/m
Total Organic Net New Assets	8.1	4.4	n/m	24.8	n/m
Net brokerage to advisory conversions	0.7	0.6	n/m	0.6	n/m
Client Cash Balances
Insured cash account sweep	36.5	37.0	(1.4%)	37.3	(2.1%)
Deposit cash account sweep	9.7	9.5	2.1%	11.0	(11.8%)
Total Bank Sweep	46.2	46.5	(0.6%)	48.3	(4.3%)
Money market sweep	2.5	2.5	—%	17.1	(85.4%)
Total Client Cash Sweep Held by Third Parties	48.7	49.0	(0.6%)	65.4	(25.5%)
Client cash account	2.0	1.9	5.3%	1.8	11.1%
Total Client Cash Balances	50.6	50.9	(0.6%)	67.2	(24.7%)
Net buy (sell) activity	9.5	11.1	n/m	0.2	n/m
Market Drivers
S&P 500 Index (end of period)	4,180	4,169	0.3%	4,132	1.2%
Russell 2000 Index (end of period)	1,750	1,769	(1.1%)	1,864	(6.1%)
Fed Funds daily effective rate (average bps)	505	483	4.6%	76	n/m

Note: Totals may not foot due to rounding.

For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.

Contacts

Investor Relations
investor.relations@lplfinancial.com
(617) 897-4574

Media Relations
media.relations@lplfinancial.com
(980) 321-1232

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated advice model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

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