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 launch of Lau Financial Group by advisor Hugh Lau, who oversees approximately $750 million in assets. Lau's transition to an independent practice is supported by LPL’s Strategic Wealth Services, offering tailored investment strategies for multi-generational wealth. Lau and his team seek autonomy while leveraging LPL’s technology and resources to enhance their client service. The firm aims to grow its client base and brand presence in the community, backed by LPL's operational support.
LPL Financial (Nasdaq: LPLA) announced that McLaughlin Asset Management has joined its platform, bringing approximately $600 million in advisory assets. McLaughlin, based in Haddonfield, N.J., focuses on comprehensive wealth management, serving high-net-worth clients. The team aims to enhance client service by transitioning to an independent hybrid RIA model, leveraging LPL and Gladstone's resources. LPL's technology and advisory capabilities are expected to support continued growth for McLaughlin Asset Management.
LPL Financial (Nasdaq: LPLA) has welcomed financial advisor Corey Phillips to its platform, bringing approximately $115 million in advisory, brokerage, and retirement assets. Previously affiliated with Park Avenue Securities, Phillips plans to partner with Alex Kastrinakis at LPL, launching a new brand later this year. Phillips emphasized LPL's industry-leading tools which enhance client investment experiences and support fiduciary practices. LPL aims to empower advisors with independence and innovative services, showcasing its commitment to supporting financial advisors nationwide.
LPL Financial (Nasdaq: LPLA) welcomes Elite Financial Network to its platforms. The firm manages around $1 billion in advisory, brokerage, and retirement plan assets, transitioning from Securities America. Founded in 1992 and led by CEO Dan Cairo, Elite Financial Network emphasizes holistic financial services. Cairo cites LPL's advisor-centric culture and innovative solutions as key reasons for the move, anticipating significant growth and expansion. LPL aims to support advisors through robust digital platforms and quality solutions, solidifying its position in the independent financial advisory market.
LPL Financial Holdings Inc. (LPLA) will announce its fourth quarter financial results after market close on February 3, 2022. A conference call to discuss these results is scheduled for 5 p.m. ET the same day, accessible via phone and webcast. LPL Financial, a leader in the advisor-centric financial services market, supports over 19,000 advisors and is recognized as the top RIA custodian. The investor relations section will provide further details relevant to shareholders. A replay of the call will be available until February 24, 2022.
LPL Financial (Nasdaq: LPLA) has announced that Sterling Wealth Group, managing approximately $390 million in assets, has joined its broker-dealer and RIA platforms. Founded by Bob Madden, the Melville, N.Y.-based firm, operates with a client-centric approach and aims to enhance client experiences. After a year of due diligence, they chose LPL for its advanced technology and extensive resources. The partnership is expected to support Sterling's growth and improve service delivery. LPL remains dedicated to empowering advisors through innovative solutions and personalized support.
LPL Financial LLC, a subsidiary of LPL Financial Holdings (NASDAQ: LPLA), reported its November 2021 activity. Total advisory and brokerage assets decreased to approximately $1.17 trillion, down $10 billion (0.8%) from October. Notably, total net new assets for November reached $6.9 billion, reflecting a 7.0% annualized growth rate, with net new advisory assets at $7.1 billion (13.7% annualized growth).
Client cash balances rose by $1 billion to $51.9 billion, with net buying activity at $5.5 billion.
LPL Financial (Nasdaq: LPLA) has welcomed Lamont Financial Group to its platforms, expanding its advisory services. With approximately $200 million in assets, Lamont joined LPL from Securities America, citing the need for enhanced office efficiencies and integrated technology. LPL's ClientWorks platform and its robust capabilities were significant factors in their decision. The partnership with JFC Advisor Network aims to support growth for Lamont's advisors, furthering their mission of delivering customized financial strategies.
LPL Financial announced that financial advisor Bob Trent has joined the firm, launching Trent Wealth Management under the Linsco model in Santa Rosa, California. Trent has experience managing approximately $200 million in advisory and retirement plan assets. The move is aimed at providing clients with personalized service and enhanced portfolio management through LPL's technology and support. Trent emphasizes the independence and innovative capabilities offered by LPL, which allows for better client service and operational flexibility.
LPL Financial announced the affiliation of financial advisor Gene Foley, who brings approximately $85 million in advisory, brokerage, and retirement plan assets from Wells Fargo Advisors. Foley, a veteran with over 40 years in financial services, chose LPL for its independence and support structure through the Linsco employee model. This model provides advisors with autonomy to manage their practices while accessing LPL’s integrated wealth management resources. Scott Posner, LPL’s EVP of Business Development, expressed enthusiasm in welcoming Foley to the LPL community.
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