Welcome to our dedicated page for LPL Financial Holdings news (Ticker: LPLA), a resource for investors and traders seeking the latest updates and insights on LPL Financial Holdings stock.
LPL Financial Holdings Inc. (Nasdaq: LPLA) is a premier player in the retail financial advice market, renowned for its independent broker-dealer services. Founded on the principle that the firm should serve advisors and institutions, LPL has built a robust platform that includes proprietary technology, comprehensive clearing and compliance services, practice management programs, and independent research. The company supports over 22,000 financial advisors and nearly 1,100 enterprises across the United States, including approximately 570 registered investment advisor (RIA) firms.
As of 2023, LPL's advisors manage over $1.3 trillion of client assets, reflecting the firm's substantial influence in the financial advisory domain. The company offers a wide range of services designed to help financial advisors and institutions thrive in their respective markets. These include brokerage and investment advisory services, retirement plan advisory, and customized financial planning.
LPL Financial is also committed to technological innovation. The company's proprietary tech solutions are crafted to enhance operational efficiency and client service quality. Recent achievements include the onboarding of the wealth management business of Crown Capital Securities, a full-service broker-dealer and RIA headquartered in Orange County, California. This acquisition is expected to bring approximately $5 billion of assets under LPL's management, further expanding its market reach.
LPL Financial consistently ranks as a leader in the independent broker-dealer sector. The firm has been recognized by Financial Planning Magazine as the largest independent broker-dealer based on total revenues from 1996 to 2015. Moreover, the company is one of the fastest-growing RIA custodians, underscoring its pivotal role in the financial services industry.
LPL's financial condition remains strong, with significant increases in advisory and brokerage assets. As of February 2024, the company reported $1.40 trillion in total assets, marking a 3.0% increase from the previous month. This growth is complemented by a 6.0% annualized growth rate in total net new assets for February, showcasing the firm's continued expansion and market penetration.
The company is also dedicated to supporting the growth and success of its advisors. LPL's extensive range of practice management programs and comprehensive training ensure that advisors are well-equipped to meet their clients' financial goals. Solutions such as the Liquidity & Succession platform and the integration of technology and business solutions help advisors streamline their operations and deliver superior client experiences.
LPL Financial maintains a strong commitment to its core values of independence and client-centric service. By providing advisors with the freedom to choose their business models, services, and technology resources, LPL ensures that they have the flexibility to run their practices on their terms. This client-first approach has solidified LPL's reputation as a trusted partner for financial advisors and institutions nationwide.
In summary, LPL Financial Holdings Inc. stands out for its comprehensive suite of services, technological innovation, and unwavering commitment to supporting the success of financial advisors and institutions. With its strong financial performance and strategic acquisitions, LPL continues to be a leader in the independent broker-dealer and RIA custodian markets.
LPL Financial has welcomed Matt B. Irwin to its broker-dealer, RIA, and custodial platforms. With approximately $160 million in advisory and brokerage assets, Irwin joins from Ameriprise, celebrating 25 years in the industry. He emphasizes LPL's independent platform, which enhances investment choices and client service flexibility. Irwin's move comes after evaluating several firms, seeking better resources and support for his solo practice. LPL aims to provide advisors with innovative capabilities and robust resources to improve client experiences.
LPL Financial has welcomed Strategic Partners, Inc. to its broker-dealer and custodial platforms, expanding its advisory capabilities. The Strategic team, with approximately $830 million in advisory assets and an additional $600 million in fixed life insurance and annuities, previously operated under Royal Alliance. Strategic Partners, led by Chris Lubbers, specializes in comprehensive financial planning and aims to leverage LPL's advanced technology for improved operational efficiency and client services. The partnership with National Financial Alliance was also seen as a substantial opportunity for growth.
LPL Financial (Nasdaq: LPLA) reported a total of $1.14 trillion in advisory and brokerage assets for November 2022, marking a 4.5% increase from October. The company added $5.6 billion in net new assets during the month, with advisory assets growing by 7.6% annually. However, client cash balances fell by 4.1% to $62.5 billion. Notably, net buying activity reached $9.4 billion, a significant increase from previous months. These metrics highlight a solid growth trajectory in terms of assets despite a decline in cash balances.
LPL Financial (Nasdaq: LPLA) has appointed Garrett Fish as Senior Vice President and head of Model Portfolio Management. With over 25 years of international portfolio management experience, he will lead the firm’s investment model portfolio function and serve on the Strategic & Tactical Asset Allocation Committee. Previously, Fish spent nearly two decades at J.P. Morgan Asset Management, managing various investment vehicles. His expertise will enhance LPL’s investment strategies, benefiting financial advisors and their clients.
LPL Financial announced the addition of financial advisors David Rimkus, Donald Sharko, and Thomas Phelan, who together manage approximately $285 million in assets. They have transitioned from LaSalle St. Securities to LPL’s platforms and have rebranded their firm as Harbor Lighthouse Wealth Management. The team aims to enhance client communication and support multigenerational wealth management. LPL provides extensive resources to ensure business continuity and cater to the needs of clients' descendants.
LPL Financial has released a study highlighting the favorable effects of the SECURE 2.0 bipartisan retirement legislation on Americans' savings habits. This legislation comprises three bills aimed at improving retirement security, building on the SECURE Act of 2019. Key findings from a survey of over 600 LPL-affiliated financial advisors reveal that 95% support the legislation, which includes incentives for small businesses and expansion of the Saver’s Credit. LPL’s President, Dan Arnold, emphasized the importance of this legislation in enhancing retirement options and addressing the challenges posed by the pandemic.
LPL Financial announced the addition of Menninger & Associates Financial Planning to its broker-dealer and RIA platforms. The firm, managing approximately $155 million in advisory and retirement assets, transitioned from Cetera. Michael Menninger, a certified financial planner, emphasized the importance of financial education and the goal of having all advisors obtain CFP credentials. The move to LPL is seen as a strategic fit, allowing for greater operational freedom and access to advanced technology that enhances client experiences.
LPL Financial has published its Outlook 2023 report, emphasizing a theme of 'Finding Balance' as the economy adjusts after 2022's market imbalances. Key highlights include a projected slowdown in global economic growth to the mid-2% range and the possibility of a recession in the U.S. during the first half of 2023. The report suggests that a halt in the Federal Reserve's rate hikes could lead to stock market gains, with 10-year Treasury yields expected around 3.5%. The firm aims for stability in financial advisement, promoting independence for over 21,000 advisors nationwide.
LPL Financial welcomes Financial House to its platforms, expanding its advisor network. Financial House, managing approximately $650 million in assets, has shifted from Lincoln Financial to benefit from LPL's resources and independence. Founded over 30 years ago, the firm emphasizes a client-centered approach with a team of seasoned advisors. LPL aims to enhance operational efficiency and provide more opportunities for growth and recruitment for Financial House, reflecting its commitment to supporting advisor success.
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