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 announced the addition of Theresa M. Hannon CPA and Kevin Hannon CFP to its platform, joining from American Portfolios Financial Services. The Hannon team manages approximately $175 million in advisory and brokerage assets. By partnering with Professional Wealth Advisors, they aim to enhance client service through improved technology and support. This move aligns with their client-centric values, promising elevated customer service and operational support. LPL continues to strengthen its network, focusing on providing personalized financial guidance.
LPL Financial announced that 119 affiliated advisors were ranked in the 2022 Best-In-State Wealth Advisors list by Forbes, an increase from 92 last year. LPL's executive vice president Angela Xavier praised the advisors for their commitment to client service and professionalism. The list evaluates advisors based on various criteria, including client retention and revenue trends. LPL Financial, a leader in the advisory sector, supports nearly 20,000 advisors nationwide, emphasizing a client-centric, independent model in wealth management.
LPL Financial has welcomed Northern Lakes Financial Group into its broker-dealer and investment advisor platforms. The group, which joined from Thrivent Investment Management, reported managing approximately $120 million in advisory and retirement plan assets. Comprised of father-daughter team Robert Viau and Liz Mengo, alongside client support specialist Kamryn Nardini, the group aims to provide tailored financial guidance. Their decision to partner with LPL stems from a desire for a flexible business model and enhanced technological support to better serve their clients.
LPL Financial (Nasdaq: LPLA) announced the affiliation of financial advisor Gary Edmonds and business management associate Andy Chang with Linsco by LPL Financial. The team, servicing approximately $360 million in advisory assets, joins from UBS Financial Services. Their move aims to enhance client services through increased independence and access to innovative technology. The Linsco model provides comprehensive support, enabling advisors to focus on client relationships while utilizing LPL's integrated wealth management platforms.
LPL Financial welcomes financial advisor Lisa Tesar to their Linsco employee model, managing approximately $260 million in assets. Tesar, a second-generation advisor, aims to provide personalized financial advice primarily to high-net-worth clients focusing on retirement income. Her team was attracted to LPL for its brand autonomy and supportive resources that facilitate personalized client service. LPL continues to emphasize its commitment to advisor-centered models allowing for growth and independence.
LPL Financial Holdings Inc. (LPLA) will announce its first quarter financial results on April 28, after market closure. A conference call is scheduled for 5 p.m. ET that day, providing insights into the company's performance. Investors can listen via phone or access a live webcast on the Investor Relations website. A replay of the call will be available until May 19. LPL Financial, a leader in the advisory sector, supports nearly 20,000 financial advisors across the U.S., focusing on an advisor-centered model for personalized client guidance.
LPL Financial has enhanced its Model Wealth Portfolios (MWP) platform by adding separately managed account (SMA) strategies, creating a unified managed account (UMA) that allows advisors to combine SMAs with other investment models. This development enables tailored investment strategies with lower minimums for clients, providing transparency and better tax management opportunities. LPL aims to deliver a superior wealth management platform, emphasizing advisor input for continuous improvement. As of December 31, 2021, MWP manages over $83 billion in assets.
On March 28, 2022, LPL Financial announced the launch of a new independent practice, Alcove Private Wealth, by advisors Leslie Shenkler and Daryl Lipkin. The duo, transitioning from UBS, manages approximately $265 million in advisory assets. With over 25 years in the industry, Shenkler holds a Chartered SRI Counselor designation, while Lipkin is a Certified Investment Management Analyst. They chose LPL Strategic Wealth Services for independence and flexibility to better serve clients, emphasizing a client-centered culture and personalized support.
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