Lpl Financial Stock Price, News & Analysis

LPL Financial LLC has appointed Bill Sappington as the new executive vice president of Banking and Lending Solutions. In this role, Sappington will spearhead the development of LPL's banking and lending strategies, reporting directly to Kabir Sethi, the Chief Product Officer. With over 30 years of experience, including leadership positions at City National Bank and BNY Mellon, Sappington aims to enhance client services and innovate product offerings. His appointment is expected to drive growth and add value to LPL's banking initiatives.

LPL Financial LLC announced that financial advisor Ivan Hendricks has joined the firm, bringing $280 million in assets under management (AUM). After 16 years in financial advisory, Hendricks chose LPL for its extensive resources and supportive environment. He aims to provide personalized services through his company, Candor Wealth Partners, which emphasizes honesty and transparency. LPL’s executive vice president Scott Posner noted that they focus on supporting advisors to enhance their business. LPL is a leading firm in the financial advisory sector, serving over 20,000 advisors across the U.S.

LPL Financial (Nasdaq: LPLA) released its "Midyear Outlook 2022" report, outlining investment insights amid economic challenges. Key findings include a forecast of slow economic growth, persistent inflation above the Fed’s target, and strong headwinds for stocks, albeit with potential for improved valuations if inflation decreases. Core bonds show a better value proposition due to rising yields. The report emphasizes navigating challenges effectively to achieve financial success.

LPL Financial (Nasdaq: LPLA) announced a definitive purchase agreement to acquire the Private Client Group business of Boenning & Scattergood, a broker/dealer and RIA with approximately 40 advisors managing around $5 billion in client assets. The acquisition will integrate Boenning & Scattergood into LPL’s employee advisor model while retaining its brand. The deal is expected to close in early 2023, subject to regulatory approval. LPL anticipates a transaction multiple of ~5x post-synergy EBITDA, expanding its operational capabilities and client service.

LPL Financial Holdings Inc. (Nasdaq: LPLA) announced that it will report its second quarter financial results after the market close on August 2. A conference call is scheduled for 5 p.m. ET on the same day to discuss the results. The call will be accessible via the company's investor relations website, and a replay will be available until August 23.

LPL is a prominent firm supporting over 20,000 financial advisors across the U.S., advocating for personalized client relationships.

LPL Financial announced the addition of advisors Adam Hutchinson and Robert Gibbs, who bring approximately $215 million in assets after leaving Morgan Stanley. They will join River’s Edge Wealth Partners, emphasizing a client-first approach and a desire for independence. The advisors highlighted the benefits of LPL's resources, including compliance and marketing support, which will allow them to focus more on client relations. River’s Edge managing partner expressed excitement about their integration into the team, noting their similar client dedication.

LPL Financial announced the joining of Ivan Illán as a Hybrid RIA, launching Aligne Wealth Advisors Investment Management (AWAIM). With approximately $300 million in advisory and brokerage assets, Illán brings extensive experience and a passion for client communication. By partnering with LPL, AWAIM aims to enhance client relations and leverage LPL's technology for improved services. LPL's Hybrid RIA model supports growth and client self-service options. LPL Financial remains committed to delivering innovative solutions for advisors.

LPL Financial (Nasdaq: LPLA) has launched the LPL Private Client Services Network, providing advisors access to a curated list of companies to cater to high-net-worth clients' complex needs. Introduced during LPL’s annual Private Wealth Symposium from June 13-15, this program aims to enhance the service quality for affluent families. Advisors can now offer a broader range of services, including specialized tax services and high-end insurance. Notably, LPL has seen over 200% growth in assets associated with high-net-worth households since 2016.

LPL Financial LLC reported significant growth in its May 2022 activity report, showcasing total advisory and brokerage assets of approximately $1.12 trillion, marking a 2.2% increase from April. Total net new assets reached $24.8 billion, reflecting a 27.2% annualized growth rate. Notably, client cash balances grew by $5.3 billion to $67.1 billion in May. The firm onboarded $18.2 billion in brokerage assets and $1.3 billion in advisory assets, with total net new advisory assets at $5.1 billion.