Lpl Financial Stock Price, News & Analysis

LPL Financial (Nasdaq: LPLA) recently welcomed financial advisors Benjamin Link and Steve Sexton to its employee advisor model, Linsco. The duo brings approximately $380 million in advisory assets from Truist Investment Services, becoming Linsco's 25th team. Their new venture, Vero Wealth Management, is based in Greensboro, N.C. The Linsco model supports advisors with business operations and allows them to focus on client relationships. With LPL's technology and support, the advisors aim to enhance their service offerings and grow their business.

LPL Financial LLC, a subsidiary of LPL Financial Holdings (Nasdaq: LPLA), reported its monthly activity for August 2022, revealing total advisory and brokerage assets of $1.10 trillion, down $19.5 billion or 1.7% from July. The firm achieved net new assets of $9.7 billion, equating to a 10.4% annualized growth rate. Notably, total client cash balances fell to $65.8 billion, down $3.6 billion compared to July. However, net buying activity reached a new monthly high at $9.3 billion.

LPL Financial announced it received the Gold award from Brandon Hall Group for its Emerging Leaders Program, focusing on leadership development and cultural alignment. The program, redesigned in 2021, supports approximately 600 alumni, enhancing skills like strategic agility and empathetic leadership. Sponsored by LPL President and CEO Dan Arnold, ELP aims to cultivate diverse talent and ensure a strong succession pipeline. The award recognizes the program's design, measurable benefits, and overall impact, with formal recognition slated for January 31-February 2, 2023.

LPL Financial announced the addition of Rubino, Skedsvold, Moran & Associates to its broker-dealer and custodial platforms, bringing approximately $340 million in advisory and brokerage assets. The Portland-based team, led by Judy Rubino and Kari Skedsvold, sought LPL for its progressive and independent platform, allowing for personalized client services. This strategic move also supports their succession planning. LPL continues to expand its advisor-focused model, aiming to empower advisors with innovative tools and resources.

Kaplan has entered into a strategic educational agreement with LPL Financial, enhancing its long-standing partnership. As part of LPL’s Vendor Affinity Program, Kaplan will offer a wide range of financial education programs with discounts for LPL employees and advisors. Programs include professional designations in financial planning and exam prep for various certifications. This collaboration aims to support LPL's goals of employee retention and development, ultimately benefiting its affiliates and clients. Both companies emphasize the importance of accessible, high-quality financial education.

LPL Financial announced the launch of Kelly Wealth Advisors on its employee advisor model, Linsco by LPL Financial. The advisory firm, which serves nearly $300 million in assets, transitions from Wells Fargo to leverage LPL’s technology and independence. Led by Tom and Maureen Kelly, the multigenerational team focuses on personalized investment services and multigenerational wealth management. This move aims to enhance client services and operational efficiency, allowing the firm to focus on client relationships without operational burdens.

LPL Financial has welcomed Broadway Wealth Management Group as their newest affiliate under the Linsco model. The group, which has approximately $600 million in advisory and brokerage assets, transitioned from Merrill Lynch to enhance client services and grow their practice. Led by seasoned professionals with over 100 years of collective experience, they emphasize personalized financial planning and retirement solutions. The partnership with LPL allows them to utilize sophisticated tools and streamline operations, enhancing their ability to meet client needs effectively.

LPL Financial announced the addition of five financial advisors from Genesis Financial Partners to its RIA and custodial platforms. The team, managing approximately $150 million in assets, transitioned from Cambridge Associates. JFC Advisor Network will support their integration. The move aims to enhance operational efficiency and client service through LPL's advanced technology. JFC’s leaders expressed confidence in LPL’s support model, emphasizing a strong commitment to personalized advisor experiences. This strategic expansion reflects LPL's growing market presence and advisor-driven model.

On August 26, 2022, LPL Financial announced the onboarding of ~$2.6 billion in client assets from the retail brokerage and advisory business of People’s United Bank, following its merger with M&T Bank. This includes ~$2.4 billion in brokerage assets and ~$0.2 billion in advisory assets. An additional ~$1.8 billion of assets is set to onboard in the coming months. With a focus on technology and personalized guidance, LPL aims to enhance its services for the newly integrated advisors and clients.