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.
On November 12, 2020, LPL Financial (LPLA) announced that advisors Jerry Giordano and Joseph Praino have joined their platforms, bringing approximately $350 million in advisory and brokerage assets. The duo is partnering with KM Capital Group to provide clients with personalized wealth management. Praino emphasizes the benefits of independence, allowing him to serve clients without external pressures. Giordano appreciates LPL's extensive resources and product access, aiming to enhance client service. This move signifies LPL's ongoing growth and commitment to providing advisors with the necessary tools for success.
LPL Financial reported its October 2020 activity, with total advisory and brokerage assets at approximately $808 billion, down 0.3% from September. The firm experienced $5.0 billion in total organic net new assets, reflecting a 7.4% annualized growth rate. Notably, advisory assets accounted for $4.8 billion, marking a 14.2% growth rate. Client cash balances rose $1.7 billion to $48.3 billion. The report also included onboarding assets from Lucia Securities, LLC, contributing $1.5 billion to total net new assets.
LPL Financial (LPLA) announced that Trivium Point Advisory, led by George Gerhard and Ron Pac, has joined its broker-dealer and RIA platforms. The team brings approximately $250 million in advisory and brokerage assets, previously from Mass Mutual. Their practice emphasizes a holistic view of client finances, integrating wealth management, business consulting, and tax services. LPL’s support enables Trivium to enhance its service offerings while retaining its unique brand. Rich Steinmeier of LPL noted the potential for deeper client relationships and commitment to supporting Trivium’s growth.
LPL Financial (LPLA) announced that the Investment Services at First Community has joined LPL’s Institution Services, reporting approximately $40 million in advisory and brokerage assets. First Community Credit Union (FCCU), with 44 branches and $3.2 billion in assets, is Missouri's largest credit union. The new partnership aims to enhance financial guidance for FCCU members and facilitate the hiring of additional advisors for improved service. This collaboration will also provide access to modern technology and financial products to better serve the credit union's large membership base.
LPL Financial (LPLA) announced the transition of the Pelliccioni family team to its platforms, bringing approximately $200 million in advisory, retirement plan, and brokerage assets. Lou Pelliccioni and family recently rebranded their practice as Trilith Wealth Management, emphasizing independence and client-focused services. With a significant history in financial advising, the team aims to expand its offerings through a multi-professional approach. INC Advisors supports this transition, focusing on entrepreneurial flexibility and growth in the Florida and West Virginia markets.
LPL Financial has announced the appointment of Ben Welch as executive vice president of Trading, effective immediately. Welch, who previously worked at TD Ameritrade, will focus on enhancing LPL's trading strategies and advisory support. His expertise in financial technology and process optimization is expected to foster a differentiated experience for clients. Welch is a Chartered Financial Analyst and holds multiple FINRA licenses. LPL continues to position itself as a leader in the financial advisory market, serving independent advisors with comprehensive support services.
LPL Financial Holdings reported Q3 2020 results with net income of $104 million, or $1.29 per share, compared to $132 million or $1.57 per share in Q3 2019. Gross profit reached $506 million, and EBITDA was $205 million, representing 41% of gross profit. Total advisory assets increased by 20% to $406 billion. Dividends declared amounted to $20 million. The company signed agreements to onboard BMO Harris Financial Advisors and acquired Blaze Portfolio for approximately $12 million.
LPL Financial has acquired Blaze Portfolio, a fintech firm known for its innovative trading software, with a transaction valued at approximately $12 million. This acquisition aims to enhance LPL's core technology platform, allowing financial advisors to efficiently manage client investments. The deal, finalized on October 26, 2020, also includes a potential contingent payment of $5 million. LPL intends to retain Blaze's team to further develop its services while expanding its wealth management capabilities.
LPL Financial (Nasdaq:LPLA) has welcomed financial advisors Michael and Patrick O’Reilly to its broker-dealer and corporate RIA platforms. The O’Reillys, based in St. Louis, manage approximately $150 million in advisory and brokerage assets. They transitioned from Securities Service Network, seeking LPL's financial stability and advanced technology. Patrick emphasized their philosophy of simplifying financial planning through a bucket approach. Rich Steinmeier from LPL expressed excitement to support the O’Reillys in enhancing client services.
LPL Financial (LPLA) announced that the wealth management program at CenterState Bank is joining LPL through its merger with South State Bank. This program manages approximately $350 million in brokerage and advisory assets. With the addition of eight CenterState advisors and five client service members, the merger enhances South State Investment Services, expanding its reach across six Southeastern states.
Tim Sease, managing director, emphasized the merger's potential for growth, while LPL's Rich Steinmeier highlighted their commitment to supporting this expansion.
FAQ
What is the current stock price of LPL Financial Holdings (LPLA)?
What is the market cap of LPL Financial Holdings (LPLA)?
What services does LPL Financial offer?
How many financial advisors does LPL support?
What is the total value of assets managed by LPL advisors?
What recent acquisitions has LPL Financial made?
What is LPL Financial's commitment to technology?
What are LPL Financial's core values?
How does LPL Financial support the growth of its advisors?
What is the significance of LPL's market position?
How does LPL ensure the success of its advisors?
What are LPL's recent financial performance highlights?
