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 announces that Bodnar Financial Advisors has joined its broker-dealer and custodial platforms, managing approximately $300 million in assets. Founded in 1988, Bodnar Financial emphasizes fiduciary principles, focusing on personalized financial strategies. The team, led by John Bodnar, values client relationships and plans to utilize LPL’s independence and tools to enhance their services. Scott Posner from LPL welcomed the new advisors, emphasizing LPL’s commitment to empowering financial advisors and enhancing client connections.
LPL Financial has introduced Bookkeeping Services to enhance support for its advisors, allowing them to make informed business decisions with accurate financial reporting. The service pairs advisors with trained bookkeepers familiar with industry standards, saving time and ensuring precise record-keeping. This new offering is available to all LPL advisors, with a waived onboarding fee for a limited time. The launch aligns with LPL's mission to empower advisors through innovative services, building on previous introductions like Paraplanning Services and the Private Client Services Network.
LPL Financial announces the addition of financial advisor Marianela “Nela” Silva to its platforms. Silva, based in Orange, California, brings approximately $120 million in advisory assets from Wells Fargo Advisors. With over 15 years of experience, she focuses on holistic wealth-building strategies, particularly for families and small business owners in the Hispanic community. Silva intends to enhance her services through LPL's resources and community support, aiming to improve client experiences and address diverse needs.
LPL Financial (Nasdaq: LPLA) has announced several appointments within its Research team. Marc Zabicki has been named chief investment officer, continuing his leadership role after nearly two years as director of research. Quincy Krosby becomes chief global strategist, focusing on macroeconomic conditions, while Jeff Buchbinder steps in as chief equity strategist. The LPL Research team aims to provide insightful analysis on investment strategies, portfolio management, and market conditions to help advisors navigate financial landscapes effectively.
LPL Financial announced the appointment of Pete Dorsey as executive vice president of Institution Services, effective Sept. 21, 2022. Dorsey, previously chief strategy and revenue officer at Altruist, brings over two decades of experience in institutional business. He aims to enhance client relationships and drive growth within LPL's bank, credit union, and enterprise sectors. Dorsey succeeds Shawn Mihal and is expected to strengthen LPL's market position in the institution space, fostering differentiated experiences for clients.
LPL Financial (Nasdaq: LPLA) recently welcomed financial advisors Benjamin Link and Steve Sexton to its employee advisor model, Linsco. The duo brings approximately $380 million in advisory assets from Truist Investment Services, becoming Linsco's 25th team. Their new venture, Vero Wealth Management, is based in Greensboro, N.C. The Linsco model supports advisors with business operations and allows them to focus on client relationships. With LPL's technology and support, the advisors aim to enhance their service offerings and grow their business.
LPL Financial LLC, a subsidiary of LPL Financial Holdings (Nasdaq: LPLA), reported its monthly activity for August 2022, revealing total advisory and brokerage assets of $1.10 trillion, down $19.5 billion or 1.7% from July. The firm achieved net new assets of $9.7 billion, equating to a 10.4% annualized growth rate. Notably, total client cash balances fell to $65.8 billion, down $3.6 billion compared to July. However, net buying activity reached a new monthly high at $9.3 billion.
LPL Financial announced it received the Gold award from Brandon Hall Group for its Emerging Leaders Program, focusing on leadership development and cultural alignment. The program, redesigned in 2021, supports approximately 600 alumni, enhancing skills like strategic agility and empathetic leadership. Sponsored by LPL President and CEO Dan Arnold, ELP aims to cultivate diverse talent and ensure a strong succession pipeline. The award recognizes the program's design, measurable benefits, and overall impact, with formal recognition slated for January 31-February 2, 2023.
LPL Financial announced the addition of Rubino, Skedsvold, Moran & Associates to its broker-dealer and custodial platforms, bringing approximately $340 million in advisory and brokerage assets. The Portland-based team, led by Judy Rubino and Kari Skedsvold, sought LPL for its progressive and independent platform, allowing for personalized client services. This strategic move also supports their succession planning. LPL continues to expand its advisor-focused model, aiming to empower advisors with innovative tools and resources.
Kaplan has entered into a strategic educational agreement with LPL Financial, enhancing its long-standing partnership. As part of LPL’s Vendor Affinity Program, Kaplan will offer a wide range of financial education programs with discounts for LPL employees and advisors. Programs include professional designations in financial planning and exam prep for various certifications. This collaboration aims to support LPL's goals of employee retention and development, ultimately benefiting its affiliates and clients. Both companies emphasize the importance of accessible, high-quality financial education.
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