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 reported impressive growth in April 2021, with total advisory and brokerage assets surpassing $1 trillion, reaching approximately $1.063 trillion, a 10.9% increase from March. The firm saw $73.8 billion in net new assets, driven by an acquisition and organic growth, with advisory assets growing by 13.0% and brokerage assets by 8.4%. Cash balances decreased slightly to $47.7 billion. This performance underscores LPL's strong market position and effective asset acquisition strategies.
LPL Financial has been selected as the custodian for the newly launched Talisman Wealth Advisors by financial advisors Jennifer Kirby and Frank Granizo. Previously part of The Granizo Kirby Group at Merrill Lynch, they manage approximately $150 million in advisory assets. Their independent firm, based in Mountainside, N.J., aims to provide unbiased wealth management services, leveraging LPL's advanced technology and support. LPL's commitment to independent advisors enhances their ability to serve clients effectively, ensuring a focus on client interests free from institutional conflicts.
LPL Financial Holdings (Nasdaq: LPLA) announced the completion of a $400 million offering of senior unsecured notes due in 2031.
The proceeds will be used to repay existing borrowings related to the acquisition of Waddell & Reed Financial’s wealth management business, and cover related fees. The notes will incur a 4.375% interest rate, payable semi-annually, with a maturity date of May 15, 2031. The offering resulted in approximately $18 million in additional annual interest expense for the company.
LPL Financial announced that advisors Gena Barbato, Beth Woodward, and Daniel Kundla have joined from UBS, bringing approximately $215 million in advisory assets. The team aims to enhance client experiences through a holistic approach and expanded service offerings by partnering with LPL and Gladstone Wealth Partners. This collaboration allows them greater independence and flexibility, including improved digital marketing capabilities. Gladstone's CEO noted the significance of this women-led team in Atlanta's wealth management market.
LPL Financial announced that financial advisor Jeffrey Schiffman has joined the firm, affiliated with the new Linsco employee model. Schiffman brings approximately $150 million in advisory, brokerage, and retirement plan assets, transitioning from UBS Financial Services. Based in Palm Beach Gardens, Fla., Schiffman Wealth Planning aims to provide tailored financial strategies. The move allows Schiffman greater business control and access to LPL's technology and marketing resources, enhancing his practice's growth potential.
LPL Financial has launched Meeting Manager, a proprietary digital solution that streamlines client meeting preparations for advisors. This tool integrates multiple functions into a single platform, reducing the time spent on administrative tasks. Available at no extra cost through ClientWorks, Meeting Manager allows advisors to quickly assemble necessary documents, enhancing both productivity and the client experience. Kirby Horan-Adams emphasized its role in maximizing advisors' time and personalizing client interactions. LPL remains committed to innovating technology that supports independent financial advisors.
LPL Financial (Nasdaq: LPLA) announced the onboarding of financial advisor Glenn “Rob” DeHollander, who managed approximately $130 million in assets. His practice, DeHollander Financial Group, specializes in retirement income planning and wealth management, targeting affluent families and businesses.
DeHollander chose LPL for its extensive resources and independence from proprietary products. He aims to expand his business by collaborating with other LPL advisors. LPL’s executive team expressed confidence in DeHollander's contributions and the firm’s commitment to empowering advisors.
LPL Financial Holdings Inc. (Nasdaq: LPLA) announced the pricing of $400 million in senior unsecured notes through its subsidiary, LPL Holdings, with a 4.375% interest rate, maturing on May 15, 2031. Proceeds will repay existing debt from the acquisition of Waddell & Reed Financial and cover offering expenses. The issuance is expected on May 18, 2021, subject to conditions. These notes are offered solely to qualified institutional buyers and are not registered under the Securities Act of 1933.
LPL Financial (Nasdaq: LPLA) announced the addition of financial advisor Tom Zinckgraf and his team from Investment Strategies Advisors as part of its broker-dealer and RIA platforms. Zinckgraf manages approximately $180 million in advisory and brokerage assets and aims to enhance client services using LPL's technology. An industry veteran, he emphasizes a planning-based approach and client service excellence. LPL's executive Scott Posner expressed gratitude for Zinckgraf's partnership, highlighting LPL’s commitment to advisor support.
LPL Financial Holdings Inc. (LPLA) has announced plans to offer approximately $400 million in senior unsecured notes due 2031 through its subsidiary, LPL Holdings. The proceeds will primarily be used to repay borrowings from the revolving credit facility related to the recent acquisition of Waddell & Reed Financial, Inc. as well as to cover fees associated with the offering. The success of this offering is contingent on market conditions and other factors.
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