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.
The LPL Financial Foundation announced new partnerships aimed at enhancing economic well-being for underserved populations. Grants totaling nearly $500,000 were awarded to the American College of Financial Services and LISC to promote diversity in financial services and support small business owners. The LISC grant will assist 100 small businesses in Charlotte and San Diego, while the American College will establish the LPL Financial Foundation Equity Scholars Program to increase the representation of financial professionals from diverse backgrounds.
LPL Financial (Nasdaq: LPLA) has appointed Cara Dailey as executive vice president and Chief Data Officer, effective September 13, 2021. In this newly created role, she will lead the Data and Analytics team to enhance LPL's digital strategies and data management. Dailey brings extensive experience from Silicon Valley Bank and Nike, among others. Her focus will be on leveraging data as a strategic asset to create personalized client experiences. The move aligns with LPL’s commitment to improving services for over 19,000 financial advisors nationwide.
LPL Financial (Nasdaq: LPLA) announced the launch of Shoreline Wealth Management by advisors David Crossan and John Stephens, who bring over 35 years of experience. They previously managed approximately $305 million in assets and transitioned from Wells Fargo Advisors to LPL’s Strategic Wealth Services model. This move allows them to offer customized client services and expand their operations along the Jersey Shore. They emphasize financial education and plan to enhance their marketing efforts, including podcasting and a radio show.
LPL Financial (Nasdaq:LPLA) welcomed the Vande Bossche Financial Planning and Wealth Management team, led by John Vande Bossche, who brings approximately $380 million in advisory assets. The family's move from Northwestern Mutual enhances LPL's service offerings, particularly in retirement and investment planning. The team aims to cater to multiple generations, leveraging LPL's integrated technology and platforms for improved client experiences. This long-term partnership is expected to significantly benefit both LPL and the Vande Bossche team.
LPL Financial (Nasdaq: LPLA) has welcomed Francis Ciocari CFP® as a new financial advisor, who has joined from Morgan Stanley. Ciocari brings approximately $300 million in advisory, brokerage, and retirement plan assets. He will establish a new Gladstone Wealth Partners office in Blue Bell, Pa., enhancing LPL’s hybrid registered investment advisor platform. Ciocari emphasizes high-touch, goals-based wealth management and values the autonomy and support offered by LPL and Gladstone, which he believes will benefit his clients.
LPL Financial has appointed Matthew Morningstar as executive vice president of Compliance, Legal & Risk, effective September 7, 2021. Morningstar will oversee litigation, regulatory matters, and customer disputes, reporting to Michelle Oroschakoff. He brings significant experience from Morgan Stanley, where he led Litigation and Regulatory Enforcement. Morningstar aims to enhance LPL's legal functions and support diversity initiatives. LPL Financial, listed on Nasdaq as LPLA, serves over 19,000 financial advisors and emphasizes an advisor-centered model.
LPL Financial has welcomed Corpus Christi Financial Group, which manages about $400 million in assets, to its platforms. The Texas-based team, led by Cory Summers, transitioned from Voya to enhance client service and expand their business. This move comes after Voya's acquisition by Cetera, prompting the team to seek a stable partner focused on growth. Summers emphasized the importance of innovative technology solutions for comprehensive financial management. LPL aims to support Corpus Christi Financial Group in providing exceptional client experiences and attracting new advisors.
LPL Financial announced that three of its advisors were recognized in the 2021 Top Wealth Advisors list by Forbes. Notable advisors include Charles Zhang at #6, Susan Kaplan at #40, and Laila Pence at #76. This recognition highlights the advisors' dedication during the COVID-19 pandemic and their efforts to support clients amid economic volatility. The selection criteria were based on qualitative assessments such as experience and best practices in client management, as per SHOOK Research.
LPL Financial has welcomed TBT Financial Services, which manages approximately $625 million in assets, to its broker-dealer and advisory platforms. The team from Texas aims to enhance client service and expand its capabilities while maintaining independence and rebranding in the coming year. TBT's move is driven by LPL's robust technology and operational support, which will streamline processes and improve client experiences. This partnership aligns with LPL's commitment to empowering advisors for sustainable growth.
LPL Financial (Nasdaq: LPLA) has welcomed financial advisor Allison Taylor and her team at Taylor Wealth Management, who bring approximately $295 million in advisory and brokerage assets. Transitioning from Wells Fargo Advisors, Taylor emphasizes her client-focused mission and her commitment to support women in finance. The team aims to offer personalized financial education and plans to engage the community through workshops. LPL’s culture and support for independent advisors were significant factors in her decision to join the firm, as reflected in her commitment to ethical practice.
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