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 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.
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.
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