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 has welcomed Tagge Rutherford Financial Group to its broker-dealer and corporate RIA platforms, enhancing LPL's service offerings.
Tagge Rutherford, based in Omaha, has approximately $1 billion in advisory and brokerage assets and utilizes a team approach for client services.
With LPL’s advanced technology and integrated workflow, the onboarding process has become seamless, improving client experiences significantly.
LPL Financial (LPLA) has welcomed financial advisors Tom and Bill Smothers, who bring approximately $220 million in assets under management, to its platforms from KMS Financial Services. The Smothers have extensive experience in the retirement plan sector and aim to enhance their services in wealth management and financial planning. Their decision to partner with LPL highlights the firm’s commitment to supporting advisors with resources and expertise in the qualified retirement plan space. This partnership aims to improve service quality for clients as their financial needs evolve.
LPL Financial has announced that its Model Wealth Portfolios (MWP) platform has been named a finalist for the Wealth Management Platform of the Year in the 2020 Money Management Institute/Barron’s Industry Awards. MWP offers fully diversified mutual fund and ETP models, supported by 15 institutional portfolio strategists. During COVID-19, MWP has helped advisors navigate market volatility, and since April 2019 has expanded to include the Advisor Sleeve option, adding over $3B in assets. The winners of the awards will be announced on October 22, 2020.
LPL Financial has announced its annual Women's Conference, titled Women Lead: eForum, transitioning to a virtual format to accommodate more participants. Originally a gathering of 150, this year’s event features nearly 700 registered attendees and runs until October 30. The conference includes various sessions led by LPL executives and keynote speakers, focusing on networking and professional development. A unique allies program invites male allies to participate, promoting inclusion in an industry traditionally dominated by men.
LPL Financial (Nasdaq:LPLA) has appointed Thomas Cappello as executive vice president and chief risk officer, effective October 12, 2020. Cappello, with extensive experience from Bank of America and UBS, will oversee LPL's risk functions, including Enterprise Risk Management. His appointment comes at a time when LPL seeks to enhance its enterprise-wide risk management framework, aligning with the firm's growth strategy in the evolving financial advisory market. Cappello aims to leverage macro trends to support LPL’s service to advisors and institutions for effective client guidance.
LPL Financial (Nasdaq:LPLA) announced that financial advisor Rajat Rajan CFP®, AIF has joined their platform through Tranquil Advisors. Rajan brings approximately $125 million in assets under management from Wells Fargo Advisors and will focus on retirement planning and asset management for small to mid-sized companies in the D.C. area. This move enables him to leverage LPL's resources and customized portfolio options for his clients. Gladstone Wealth Partners will support Rajan’s transition, marking their entry into the D.C. market as LPL continues to expand its advisor network.
LPL Financial (LPLA) has announced that GreenState Credit Union's wealth management division has joined its Institution Services platform. This strategic move aims to enhance client services and growth, leveraging the extensive investment product offerings LPL provides. GreenState Wealth Management, serving approximately $350 million in assets, will benefit from a partnership with Financial Resources Group to tailor investment strategies. The collaboration underscores LPL's commitment to innovative technology and advisory services, fostering a long-term relationship to support GreenState's 230,000 members.
LPL Financial (Nasdaq:LPLA) announced that eight of its affiliated advisors have been recognized as Top Wealth Advisor Moms by Working Mother magazine and SHOOK Research. This list highlights 500 mothers in wealth management who maintain children aged 21 or younger at home. Key factors for this recognition included client retention, service models, and revenue generated. LPL's managing director praised these women for their dual commitment to clients and family while promoting a supportive environment for women entrepreneurs in finance.
LPL Financial has welcomed Reason Financial to its broker-dealer and hybrid RIA platform, in partnership with Merit Financial Group. Reason Financial, based in San Diego, manages over $200 million in brokerage, advisory, and retirement plan assets. The team, founded by experienced financial professionals, aims to enhance their client services through LPL's technology and support. The collaboration is expected to bring added value to their clients and foster a supportive network among independent advisors.
LPL Financial (LPLA) announces that Lynn L. Chen-Zhang from Zhang Financial has received the 2020 Invest in Others Lifetime Achievement Award for her philanthropic contributions, particularly a $55,000 donation to the Western Michigan University Foundation. The award recognizes financial advisors who have significantly impacted nonprofits through long-term dedication. Chen-Zhang, a first-generation immigrant, has served in the financial advisory role for 23 years, focusing on tax planning and employee stock options. Her work exemplifies the positive influence financial advisors can have in their communities.
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