Welcome to our dedicated page for Lpl Financial news (Ticker: LPLA), a resource for investors and traders seeking the latest updates and insights on Lpl Financial stock.
LPL Financial Holdings Inc. operates a wealth management platform for financial advisors, broker-dealer representatives, registered investment advisers and financial institutions. News about LPLA centers on advisor and team affiliations, broker-dealer and RIA platform growth, custody and advisory asset trends, and affiliation models such as Linsco and LPL Independent Advisor Network.
Company updates also cover quarterly financial results, organic and recruited asset flows, client cash balances, capital and liquidity measures, dividends, technology and practice-management services, investment solutions, and advisor support programs such as its military deployment practice continuation framework.
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.
LPL Financial (Nasdaq: LPLA) announced the addition of My Ton, a financial advisor with approximately $180 million in assets, to Intrua Financial, an affiliated wealth management firm. Ton, previously with Wells Fargo Advisors, will open a new branch in Wichita Falls, Texas. Her goal is to enhance clients' wealth management experience and cultivate a positive culture. With 20 years of entrepreneurial experience, she aims to deliver holistic financial services, leveraging LPL’s resources to best serve her clients.
LPL Financial LLC (Nasdaq: LPLA) reported a total of $1.12 trillion in advisory and brokerage assets at the end of July 2022, marking an increase of $59.7 billion (5.6%) from June 2022. The company also recorded net new assets of $4.8 billion, with advisory assets growing by $3.0 billion (6.4% annualized) and brokerage assets by $1.8 billion. However, client cash balances slightly declined to $69.4 billion, down $0.2 billion from June. LPL's net buying activity improved significantly, totaling $4.7 billion.
LPL Financial (Nasdaq: LPLA) announced that Greg Gates, managing director and chief technology & information officer, is a finalist for the 2022 Charlotte CIO of the Year ORBIE Awards. Gates has led initiatives to enhance the company's digital platform and technology infrastructure, serving nearly 21,000 financial professionals and handling $1.1 trillion of assets. The awards, recognizing technology excellence, will be held on August 26, 2022. LPL continues to focus on technological advancements and attracting top talent to support their financial advisors.
LPL Financial (Nasdaq: LPLA) appoints Katelyn Shackleton as the new executive vice president of Corporate Strategy and New Ventures, effective immediately. Shackleton brings over 20 years of experience in wealth and investment management, having previously led Business Management at Wells Fargo. Her role focuses on strategic planning and leveraging innovation to enhance growth and advisor-client relationships at LPL. Rich Steinmeier, Managing Director, expresses confidence in Shackleton’s expertise to advance LPL's business strategies amid a rapidly changing financial landscape.
LPL Financial Holdings reported a net income of $161 million for Q2 2022, with a diluted EPS of $1.97, reflecting a 35% increase year-over-year. Gross profit rose 18% to $711 million. Despite a 4% decline in total advisory and brokerage assets to $1.06 trillion, organic net new assets grew by 13% annualized to $37 billion. The company onboarded CUNA with $25 billion in assets and announced plans to acquire Boenning & Scattergood. A $0.25 dividend will be paid on August 31, 2022.