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 announces the launch of PBC Private Wealth, a new independent practice founded by Steven Bailin, Jodie Cohen, and Jeffrey Prince, who joined from Morgan Stanley. The team, managing approximately $700 million in assets, aims to provide customized advice and financial planning services to affluent clients. They highlight LPL's Strategic Wealth Services model as a key factor in their decision, offering tailored support and innovative technology to enhance client service. The advisors are motivated to integrate client values and financial goals into their services, emphasizing independence and personalized support.
LPL Financial has unveiled its new Resilience Plan, designed to support financial advisors during short-term leaves of absence for personal, medical, or family reasons. This service guarantees client management by LPL’s in-house team, ensuring advisors’ practices remain intact while they focus on personal matters. The Resilience Plan allows coverage for up to nine months and includes various scenarios such as parental leave and personal illnesses. This initiative highlights LPL’s commitment to advisor support and business continuity, allowing advisors to maintain strong client relationships during their absence.
LPL Financial (Nasdaq: LPLA) released its "Midyear Outlook 2021," which predicts U.S. GDP growth between 6.25% and 6.75% in 2021. The report indicates a robust economic recovery post-pandemic, with emphasis on sustainable growth driven by private-sector expansion rather than stimulus. Key forecasts include continued S&P 500 earnings growth and an anticipated rise in the 10-year U.S. Treasury yield to 1.75% - 2%. LPL encourages investors to prepare for market challenges while remaining focused on long-term goals.
LPL Financial announced the addition of Alan Kodama and the Pacstar Financial Group, managing approximately $420 million in assets. The team transitioned from Ameriprise Financial to leverage LPL's resources and technology, enhancing client services. Established in 1987, Kodama's practice has grown into a multi-office firm in Hawaii. The decision to join LPL stemmed from extensive due diligence focused on client benefits and service improvement. LPL aims to provide the necessary support to help the Pacstar team build long-term value.
LPL Financial (Nasdaq:LPLA) welcomes financial advisor Joseph F. Myer CFP® to its broker-dealer and RIA platforms. Myer, previously at Merrill Lynch, managed approximately $250 million in assets, joining LPL to set up Veritas Capital Management. He emphasizes a client-centric approach and aims to grow through building a team of advisors. LPL's support allows Myer to operate independently while leveraging its resources. Robert Hudson from Gladstone Wealth Partners highlighted this trend of established advisors moving towards independent models, expecting continued growth in this sector.
LPL Financial (Nasdaq: LPLA) announced the signing of a new law in South Carolina aimed at protecting vulnerable adults from financial exploitation. This legislation, supported by LPL, introduces new tools for financial firms and regulators to identify and prevent abuse, addressing an estimated annual loss of $36.5 billion due to financial exploitation of the elderly in the U.S. The bill follows the North America Securities Administrators Association's Model Act, which has been adopted in 32 jurisdictions, and showcases LPL's commitment to the safety of senior investors.
LPL Financial Holdings Inc. (Nasdaq: LPLA) will report its second quarter financial results on July 29, 2021, after market close. A conference call to discuss these results is scheduled for 5 p.m. ET the same day. Interested parties can access the call by dialing 877-677-9122 domestically or 708-290-1401 internationally, using passcode 5050359. The conference call will be webcast on the company's Investor Relations website, with a replay available until August 19, 2021.
LPL Financial has introduced a significant feature in its Model Wealth Portfolio (MWP) platform, enhancing customization and flexibility for financial advisors. This new capability allows advisors to combine models with different risk scores and investment objectives, enabling tailored and diversified portfolios that align with client goals. Rob Pettman, an executive vice president at LPL, highlighted that this upgrade supports efficiency and scalability in advisory practices. The platform now integrates AdvisoryWorld's risk scoring methodology, facilitating more effective portfolio management.
LPL Financial (Nasdaq: LPLA) announced the addition of financial advisor Brandon Chase, who brings approximately $125 million in advisory and brokerage assets. He joins HUB Retirement and Wealth Management as Senior Vice President and Wealth Advisor. Chase aims to assist business owners in enhancing their companies' value for sale, leveraging innovative technology and resources from LPL. This partnership is expected to bolster HUB's commitment to serving business owners and further enhance LPL's advisor-centric operational model, marking a strategic growth in their financial advisory network.
LPL Financial (Nasdaq:LPLA) announced that financial advisors Susan Kaplan and Laila Pence have been recognized in Barron’s ‘Top 100 Women Advisors’, ranking No. 10 and No. 14, respectively. This recognition highlights their exceptional performance in navigating a fluctuating market. Angela Xavier, LPL's EVP, commended their dedication and contributions to the company and its clients. Furthermore, LPL Financial’s female advisors have shown consistent industry recognition, with 19 advisors listed in Forbes’ recent Top Women Wealth Advisors list.
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