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 (Nasdaq: LPLA) announced the launch of StrateFi Wealth Management by advisors Jason Sherr and Merrick Nguyen, who transitioned from Wells Fargo Advisors. The new independent practice manages approximately $235 million in advisory and brokerage assets. StrateFi aims to provide comprehensive financial services, focusing on strategies for client asset growth and preservation. Supporting their independence, LPL offers innovative technology and business management resources to enhance client service and operational efficiency.
LPL Financial has announced the retirement of Burt White, managing director and chief investment officer, effective March 2022. The firm will initiate a search for a new wealth management leader. White has been a key player since joining in 2007, enhancing the firm's research and advisory services. LPL serves over 19,000 financial advisors and reaffirms its commitment to an advisor-centered model. The transition aims to ensure continuity in leadership and support for its advisors.
LPL Financial Holdings Inc. (LPLA) reported July 2021 monthly activity metrics, revealing total advisory and brokerage assets of approximately $1.13 trillion, up $17.6 billion (1.6%) from June 2021. The company experienced net new assets of $10.0 billion, equating to an annualized growth rate of 11.5%. Notably, $3.0 billion of these assets stemmed from the onboarding of M&T Bank clients. Advisory assets rose to $588.4 billion, a 1.9% month-over-month increase, while brokerage assets grew by 1.3% to $541.4 billion. Client cash balances at July-end were $48.5 billion.
LPL Financial (Nasdaq: LPLA) announced the launch of Tower 68 Financial Advisors, led by CEO Ken South, as a new independent practice affiliated with LPL's Strategic Wealth Services. Tower 68, transitioning from Oppenheimer, serves approximately $550 million in assets, emphasizing personalized client management and robust online tools. South, with a background in financial education, values LPL’s support in enhancing client experiences. The SWS model offers comprehensive operational support, enabling the firm to focus on client needs while maximizing business growth.
LPL Financial welcomes Everett Ice and his team from Ice Capital Management to its platforms, bringing approximately $135 million in advisory and brokerage assets. Ice, who has two decades of financial advising experience, aims to enhance client service with LPL's flexible resources and integrated ClientWorks platform. The transition from Wells Fargo Advisors reflects a commitment to improved financial planning services. LPL continues to expand its advisor network and support more than 19,000 financial advisors nationwide.
LPL Financial announced that Chief Financial Officer Matt Audette will present at the UBS Financial Services Virtual Conference on August 11, 2021, at 1:00 p.m. ET. The event will include a live audio webcast available at investor.lpl.com. A replay will be accessible two hours after the presentation and will remain available until September 10, 2021.
LPL Financial is a leading firm supporting over 19,000 financial advisors across the U.S., with a strong commitment to an advisor-centered model.
LPL Financial (Nasdaq: LPLA) has commenced its annual Focus conference, attracting over 13,000 participants, including advisors and institutional clients. Following strong Q2 earnings signaling organic growth and a record $1.1 trillion in total assets, the firm aims to enhance personalization in services. CEO Dan Arnold emphasized a shift towards custom solutions for advisors. With the advisor market anticipated to reach $24 trillion by 2022, LPL is allocating over $1.3 billion in technology and workforce investments to support growth.
LPL Financial (Nasdaq: LPLA) announces today that Corey Staten joins as executive vice president of Service, effective immediately. He will oversee the Service organization, enhancing the experience for LPL advisors, RIAs, and institutions. Staten has extensive experience in client service, previously holding leadership positions at JPMorgan Chase, Charles Schwab, and American Express. He succeeds Tim Hodge, who played a pivotal role in evolving LPL's service experience over the past six years. Staten's appointment aims to accelerate the service strategy and strengthen LPL's client care.
LPL Financial (Nasdaq:LPLA) has announced a reduction in the investment minimum for its Optimum Market Portfolios (OMP) from $10,000 to $1,000. This strategic change broadens access for advisors to provide services to a wider client base with lower investable assets. The OMP platform offers professionally managed portfolios and risk management strategies, enhancing diversification through multiple subadvisors. With $9.2 billion in assets under management as of June 30, 2021, LPL continues to support over 19,000 financial advisors nationwide.
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