LPL Financial Reports Monthly Activity for November 2023

Rhea-AI Summary

LPL Financial LLC (LPLA) released its November 2023 monthly activity report, showing a total advisory and brokerage assets of $1.30 trillion, with $8.4 billion in total net new assets and $47.3 billion in client cash balances. The company experienced significant growth rates and net buying in November.

Positive

• Total advisory and brokerage assets increased by $81.0 billion, or 6.6%, compared to October 2023
• Total net new assets for November were $8.4 billion, with a growth rate of 8.2%
• Total client cash balances at the end of November were $47.3 billion, an increase of $0.4 billion compared to October 2023

Negative

• None.

SAN DIEGO, Dec. 18, 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 November 2023.

Total advisory and brokerage assets at the end of November were $1.30 trillion, an increase of $81.0 billion, or 6.6%, compared to the end of October 2023.

Total net new assets for November were $8.4 billion, translating to an 8.2% annualized growth rate. Total net new advisory assets were $6.7 billion, translating to a 12.3% annualized growth rate.

Total client cash balances at the end of November were $47.3 billion, an increase of $0.4 billion compared to the end of October 2023. Net buying in November was $11.3 billion.

(End of period $ in billions, unless noted)	November	October	Change		November	Change
	2023	2023	M/M		2022	Y/Y
Advisory and Brokerage Assets
Advisory assets	702.3	653.6	7.5	%	599.0	17.2	%
Brokerage assets	598.2	565.8	5.7	%	536.9	11.4	%
Total Advisory and Brokerage Assets	1,300.4	1,219.4	6.6	%	1,135.9	14.5	%
Total Net New Assets
Net new advisory assets	6.7	5.7	n/m		3.6	n/m
Net new brokerage assets	1.7	1.5	n/m		2.0	n/m
Total Net New Assets	8.4	7.2	n/m		5.6	n/m
Organic Net New Assets
Net new organic advisory assets	6.7	5.7	n/m		3.6	n/m
Net new organic brokerage assets	1.7	1.5	n/m		2.0	n/m
Total Organic Net New Assets	8.4	7.2	n/m		5.6	n/m
Net brokerage to advisory conversions	0.9	0.8	n/m		0.7	n/m
Client Cash Balances
Insured cash account sweep	33.8	33.5	0.9	%	45.4	(25.6	%)
Deposit cash account sweep	8.9	9.0	(1.1	%)	11.5	(22.6	%)
Total Bank Sweep	42.7	42.5	0.5	%	56.8	(24.8	%)
Money market sweep	2.4	2.4	—	%	3.0	(20.0	%)
Total Client Cash Sweep Held by Third Parties	45.2	44.9	0.7	%	59.8	(24.4	%)
Client cash account	2.1	2.1	—	%	2.7	(22.2	%)
Total Client Cash Balances	47.3	46.9	0.9	%	62.5	(24.3	%)
Net buy (sell) activity	11.3	10.7	n/m		9.4	n/m
Market Drivers
S&P 500 Index (end of period)	4,568	4,194	8.9	%	4,080	12.0	%
Russell 2000 Index (end of period)	1,809	1,662	8.8	%	1,887	(4.1	%)
Fed Funds daily effective rate (average bps)	533	533	—	%	377	41.4	%

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

Media Relations
media.relations@lplfinancial.com

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 560 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises, 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.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

FAQ

What is the total advisory and brokerage assets reported by LPL Financial LLC for November 2023?

LPL Financial LLC reported a total advisory and brokerage assets of $1.30 trillion for November 2023.

What were the total net new assets for LPL Financial LLC in November 2023?

LPL Financial LLC reported total net new assets of $8.4 billion for November 2023.

How much were the client cash balances for LPL Financial LLC at the end of November 2023?

The client cash balances for LPL Financial LLC at the end of November 2023 were $47.3 billion.

What was the change in total advisory and brokerage assets from October 2023 to November 2023 for LPL Financial LLC?

The total advisory and brokerage assets for LPL Financial LLC increased by $81.0 billion, or 6.6%, from October 2023 to November 2023.

What was the growth rate of total net new assets for LPL Financial LLC in November 2023?

The growth rate of total net new assets for LPL Financial LLC in November 2023 was 8.2%.