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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.
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LPL Financial has welcomed Strategic Partners, Inc. to its broker-dealer and custodial platforms, expanding its advisory capabilities. The Strategic team, with approximately $830 million in advisory assets and an additional $600 million in fixed life insurance and annuities, previously operated under Royal Alliance. Strategic Partners, led by Chris Lubbers, specializes in comprehensive financial planning and aims to leverage LPL's advanced technology for improved operational efficiency and client services. The partnership with National Financial Alliance was also seen as a substantial opportunity for growth.
LPL Financial (Nasdaq: LPLA) reported a total of $1.14 trillion in advisory and brokerage assets for November 2022, marking a 4.5% increase from October. The company added $5.6 billion in net new assets during the month, with advisory assets growing by 7.6% annually. However, client cash balances fell by 4.1% to $62.5 billion. Notably, net buying activity reached $9.4 billion, a significant increase from previous months. These metrics highlight a solid growth trajectory in terms of assets despite a decline in cash balances.
LPL Financial (Nasdaq: LPLA) has appointed Garrett Fish as Senior Vice President and head of Model Portfolio Management. With over 25 years of international portfolio management experience, he will lead the firm’s investment model portfolio function and serve on the Strategic & Tactical Asset Allocation Committee. Previously, Fish spent nearly two decades at J.P. Morgan Asset Management, managing various investment vehicles. His expertise will enhance LPL’s investment strategies, benefiting financial advisors and their clients.
LPL Financial announced the addition of financial advisors David Rimkus, Donald Sharko, and Thomas Phelan, who together manage approximately $285 million in assets. They have transitioned from LaSalle St. Securities to LPL’s platforms and have rebranded their firm as Harbor Lighthouse Wealth Management. The team aims to enhance client communication and support multigenerational wealth management. LPL provides extensive resources to ensure business continuity and cater to the needs of clients' descendants.
LPL Financial has released a study highlighting the favorable effects of the SECURE 2.0 bipartisan retirement legislation on Americans' savings habits. This legislation comprises three bills aimed at improving retirement security, building on the SECURE Act of 2019. Key findings from a survey of over 600 LPL-affiliated financial advisors reveal that 95% support the legislation, which includes incentives for small businesses and expansion of the Saver’s Credit. LPL’s President, Dan Arnold, emphasized the importance of this legislation in enhancing retirement options and addressing the challenges posed by the pandemic.
LPL Financial announced the addition of Menninger & Associates Financial Planning to its broker-dealer and RIA platforms. The firm, managing approximately $155 million in advisory and retirement assets, transitioned from Cetera. Michael Menninger, a certified financial planner, emphasized the importance of financial education and the goal of having all advisors obtain CFP credentials. The move to LPL is seen as a strategic fit, allowing for greater operational freedom and access to advanced technology that enhances client experiences.
LPL Financial has published its Outlook 2023 report, emphasizing a theme of 'Finding Balance' as the economy adjusts after 2022's market imbalances. Key highlights include a projected slowdown in global economic growth to the mid-2% range and the possibility of a recession in the U.S. during the first half of 2023. The report suggests that a halt in the Federal Reserve's rate hikes could lead to stock market gains, with 10-year Treasury yields expected around 3.5%. The firm aims for stability in financial advisement, promoting independence for over 21,000 advisors nationwide.
LPL Financial welcomes Financial House to its platforms, expanding its advisor network. Financial House, managing approximately $650 million in assets, has shifted from Lincoln Financial to benefit from LPL's resources and independence. Founded over 30 years ago, the firm emphasizes a client-centered approach with a team of seasoned advisors. LPL aims to enhance operational efficiency and provide more opportunities for growth and recruitment for Financial House, reflecting its commitment to supporting advisor success.
LPL Financial (Nasdaq: LPLA) announced that CEO Dan Arnold will present at the Goldman Sachs 2022 US Financial Services Conference on December 7 at 10:40 a.m. ET. A live audio webcast will be available at investor.lpl.com, with a replay accessible until December 28.
LPL Financial is a leader in supporting over 21,000 financial advisors with a commitment to advisor independence and client-focused services.