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 Holdings Inc. (Nasdaq: LPLA) announced its Q3 2021 results, reporting a net income of $103 million and diluted earnings per share (EPS) of $1.26. The EPS prior to amortization increased 23% year-over-year to $1.77. Gross profit rose 25% to $631 million. Total advisory and brokerage assets increased 40% year-over-year to $1.13 trillion. The company onboarded $71 billion of Waddell & Reed client assets with a retention rate of 99%. Additionally, a quarterly dividend of $0.25 was declared for November 29, 2021.
LPL Financial (Nasdaq: LPLA) announced today that financial advisor David Winchell has joined the firm, launching Winchell Financial Group. With over 25 years in the industry, Winchell oversees approximately $265 million in advisory and brokerage assets. He left UBS Financial Services for LPL’s Strategic Wealth Services (SWS) model, seeking independence and personalized client service. The SWS model provides ongoing support and resources for advisors, allowing them to prioritize client needs while managing their practices effectively.
LPL Financial (Nasdaq: LPLA) has welcomed Riolo Financial Group to its platforms, adding approximately $250 million in advisory and brokerage assets. Founded in 2014 by Dominick and Frank Riolo, the firm joins from Ameriprise Financial. The Riolo team emphasized the importance of stability in a consolidating industry and the independence LPL provides, allowing them to operate without conflicts from proprietary products. LPL aims to support the group's growth and success with innovative capabilities and robust solutions.
LPL Financial (Nasdaq: LPLA) announced that financial advisor Peter Shunyia has joined the firm to establish his independent practice, Shunyia & Co. Private Wealth Advisors, with approximately $150 million in advisory and retirement plan assets. With 20 years of experience, Shunyia focuses on clients such as high-net-worth individuals and business owners. He aims to enhance investment choices and client service through LPL's resources. The announcement highlights LPL's commitment to supporting its advisors and expanding their networks.
LPL Financial (Nasdaq:LPLA) has launched the Strategic Market Solution (SMS) Plus, designed to assist small businesses in offering employer-sponsored retirement plans. This new program, powered by Lincoln Financial Group, provides multiple employer aggregation for plan administration. It aims to reduce costs and administrative burdens while enhancing fiduciary oversight. With specialized providers involved, SMS Plus offers features like 3(38) investment management and payroll services. LPL emphasizes the importance of retirement readiness for American workers through accessible plans.
LPL Financial has announced that seven of its affiliated financial advisors have been honored as Top Wealth Advisor Moms in a recent list by Working Mother magazine and SHOOK Research. This recognition highlights their success while managing family responsibilities and assisting clients in achieving financial goals. The criteria for selection included service models, revenue streams, and client retention rates. LPL Financial emphasizes its commitment to supporting these advisors, celebrating their entrepreneurial spirit and positive impact in the financial advisory space.
LPL Financial has welcomed financial advisor Guy Rodgers, who reported managing approximately $175 million in advisory and brokerage assets. Transitioning from Wells Fargo, Rodgers aims to offer enhanced services amidst ongoing pandemic challenges. With a focus on ethical financial advice, he believes LPL's extensive resources will help him provide better client experiences. LPL's executive team expressed commitment to supporting Rodgers and his clients with innovative technology and superior service.
LPL Financial (Nasdaq: LPLA) announced the addition of financial advisor Douglas Chin to its broker-dealer and RIA platforms, aligning with Gladstone Wealth Partners. Chin, with $200 million in assets, brings 30 years of experience, focusing on personalized investment management for high-net-worth families and small businesses. He values the independence and resources offered by LPL to enhance client service. Richard Frick from Gladstone praised Chin's move towards independence, highlighting the increasing trend of advisors seeking customized solutions.
LPL Financial (Nasdaq: LPLA) announced that Lindsey D. Rhea, CFP, has joined its broker-dealer and registered investment advisor platforms. Rhea, with approximately $260 million in advisory assets, previously worked at Wells Fargo Advisors. As the Owner and Wealth Strategist at Alia Wealth Partners, she aims to enhance her clients' experiences and plans for growth by utilizing LPL's Strategic Wealth Services. Rhea's accolades include rankings from Forbes as a leading wealth advisor. This move is seen as a strategic effort for long-term success and expanded client service.
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