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) has announced that financial advisors Jason Walker, Vladimir Nikitenko, H. Scott Braswell, Rosty Tkachenko, and John Hydrick have joined LPL's platforms, aligned with Integrated Financial Group (IFG). The team, now operating as Wealthstead Financial Advisors, reported serving approximately $615 million in assets and moved from Lincoln (now part of Osaic).
Led by Army veteran Jason Walker, Wealthstead offers comprehensive financial planning services, focusing on retirement income planning and portfolio management. The team chose LPL for its integrated technology, strategic business resources, and independence. They also appreciate IFG's localized support and networking opportunities.
LPL Financial, serving over 23,000 financial advisors, emphasizes advisor independence and personalized client guidance. The company provides advisors with the flexibility to choose their business model and resources to support their practice growth.
At Focus 2024, LPL Financial unveiled its strategic priorities and expanded portfolio of resources to help financial advisors thrive. The company announced an expanded suite of business solutions, expected to reach 20 services by year-end. Key highlights include:
1. New Payroll and HR Solutions to streamline talent management
2. Tech Consulting Service to optimize technology utilization
3. Chief Investment Officer (CIO) service to elevate expertise
4. Personalized Growth Coaching to drive scale and business development
5. Expanded Marketing Solutions to amplify client connections
6. Access to Capital to support advisors through lifecycle stages
LPL's research shows that top-performing advisors who partner with LPL for support earn three times more revenue while working similar hours to their peers.
LPL Financial's Focus 2024 conference is underway, showcasing enhanced technology tools and wealth management solutions. Key highlights include:
1. AI integration: LPL is piloting an AI tool for personalized financial planning insights.
2. Cybersecurity advancements: Introduction of Secure Office, Secure Cloud, and Secure Password solutions.
3. Expanded offerings: Addition of new ETFs, SMAs, fixed income, and alternative investment options to the Model Wealth Portfolios (MWP) platform.
The conference reflects the growing demand for personalized financial advice, with 63% of investors willing to pay for advice, up from 38% in 2009. LPL serves 5 million American families through its network of 23,000+ financial advisors.
LPL Financial (Nasdaq: LPLA) kicked off its annual Focus 2024 conference in San Diego, bringing together nearly 9,000 attendees for one of the largest gatherings of financial advisors worldwide. The event features over 200 breakout sessions on topics ranging from artificial intelligence to estate planning, and showcases LPL's strategic roadmap for helping financial professionals deliver great advice and run thriving businesses.
Highlights include:
- LPL's total advisory and brokerage assets increased 21% year-over-year to $1.5 trillion in Q2 2024
- The company unveiled an updated brand visual identity
- Keynote speakers include Olympic medalist Apolo Ohno and former NFL player Jon Dorenbos
LPL Financial serves over 23,000 financial advisors and continues to differentiate itself through strong growth, innovation, and a full suite of affiliation models.
LPL Financial (Nasdaq: LPLA) announced the return of Harbor Lights Financial Group to its broker-dealer, RIA, and custodial platforms. The team, serving approximately $535 million in assets, joins LPL from Wells Fargo FiNet. Founded in 1994 and based in Manasquan, N.J., Harbor Lights specializes in retirement planning and high-net-worth clients.
The group chose to return to LPL due to the firm's recent transformation and investments in future-focused platforms. They were particularly attracted to LPL's Liquidity & Capital resources and its commitment to advisor support. LPL's leadership, from CEO Dan Arnold to Chief Growth Officer Rich Steinmeier, impressed the Harbor Lights team with their dedication to the advisors' success.
LPL Financial (Nasdaq: LPLA) announced that financial advisor Alberto Francis has joined their LPL Private Wealth Management model to launch Rockview Private Wealth. Francis, formerly with Bank of America Private Bank, reported serving approximately $725 million in assets. The move allows Francis to shift focus from banking to investments, planning, and customized services for high-net-worth clients.
LPL Private Wealth offers independence with support, providing enhanced services, expanded capabilities, and access to an exclusive high-net-worth advisor community. Francis chose LPL for its broader range of services, resources, and ability to craft client-focused strategies without proprietary product limitations. The name 'Rockview' pays homage to Francis' Irish heritage and symbolizes stability, security, and vision for his new practice.
LPL Financial has announced that SoundWay Financial has joined its broker-dealer, RIA, and custodial platforms, aligning with existing firm Balmville Wealth Group (BWG). The SoundWay team, led by senior advisors Richard Belanger, Hons Yu, CFP®, and Michael Belanger, serves approximately $180 million in advisory, brokerage, and retirement plan assets. They have moved from Cetera to LPL Financial, seeking to elevate their practice and work more cohesively as a team.
The move to LPL Financial and BWG is expected to provide SoundWay with more control over their practice, localized support, and additional resources. This transition aligns with LPL's commitment to supporting advisors' ability to meet client expectations for differentiated experiences and access to sophisticated wealth management solutions.
LPL Financial (Nasdaq: LPLA) has announced that Englert Financial, a family-oriented firm based in Springfield, Va., has joined LPL's broker-dealer, RIA, and custodial platforms. The team, consisting of George Englert, Kevin Englert, and Carrie Hughes, reported serving approximately $170 million in advisory, brokerage, and retirement plan assets. They previously worked with Avantax, now owned by Cetera.
The move to LPL is part of Englert Financial's strategic plan to enhance technology and provide more personalized services to clients. The team cited LPL's best-in-class technology, innovative resources, and integrated capabilities as key factors in their decision. As a Fortune 500 company, LPL offers the stability and confidence Englert Financial needs to build their ideal practice for the future.
LPL Financial (Nasdaq: LPLA) has announced that financial advisor Jerry Rizza has joined their broker-dealer, RIA, and custodial platforms. Rizza, who previously served with Osaic, brings approximately $250 million in advisory, brokerage, and retirement plan assets to LPL. With 31 years of experience in financial services, Rizza specializes in retirement planning and behavioral investment counseling.
Based in Melville, NY, Rizza Financial Services includes two licensed assistants. The move to LPL was motivated by the desire for enhanced service experiences, office efficiencies, and a robust technology platform. LPL's advisor-centric model and integrated platform are expected to improve client service and streamline operations.
LPL Financial (LPLA) reported its Q2 2024 results, showing mixed performance. Net income was $244 million, with diluted EPS of $3.23, down 12% year-over-year. Adjusted EPS decreased 2% to $3.88. However, gross profit increased 9% to $1,079 million, and adjusted EBITDA rose 2% to $533 million. Total advisory and brokerage assets grew 21% to $1.5 trillion, with advisory assets increasing 25% to $829 billion. The company saw strong organic growth, with $29 billion in total organic net new assets. LPL's advisor count increased by 1,520 year-over-year to 23,462. The company also completed a $1 billion debt issuance to finance the Atria Wealth Solutions acquisition.
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