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 (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.
LPL Financial Holdings Inc. (LPLA) will announce its third quarter financial results on October 29, following the market close. A conference call is scheduled for 5 p.m. ET the same day, available via call-in or webcast. The replay of the call will be accessible until November 19. As a leading independent broker-dealer, LPL Financial provides services to financial advisors and institutions, facilitating wealth management and financial planning across the U.S.
LPL Financial (LPLA) announced the addition of Hendrix Group Financial Services to its broker-dealer and corporate RIA platforms, managing approximately $180 million in advisory and brokerage assets. The move comes after the Hendrix team departed from Securities Service Network after 32 years, seeking a stable partner. Brad Hendrix Sr. highlighted LPL's integrated technology, ClientWorks, which enhances client service capabilities. Rich Steinmeier of LPL expressed pride in welcoming this family-run business, emphasizing their commitment to supporting enduring client relationships.
LPL Financial (LPLA) recently welcomed Hendrix Group Financial Services to its broker-dealer and corporate RIA platforms. The firm, based in Birmingham, Alabama, has approximately $180 million in advisory and brokerage assets. After 32 years with their previous broker-dealer, the Hendrix team sought a stable partner, finding it with LPL. They praised LPL's integrated technology in ClientWorks, which enhances their service capabilities. This partnership aims to strengthen existing client relationships and improve operational efficiency.
LPL Financial (LPLA) announces the launch of North Bend Wealth Management by financial advisors Marc DeCicco and Tad M. Wilson. The advisors, with approximately $225 million in assets under management, transition from Wells Fargo Advisors. By leveraging LPL's Strategic Wealth Services, they gain access to advanced technology and personalized support for their independent practice. Their client-centric approach emphasizes holistic financial planning and long-term relationships. The practice is named after a local state park symbolizing their commitment to guiding clients through critical financial decisions.
LPL Financial has welcomed SGC Financial and Insurance Services, a group of 13 financial advisors, to its broker-dealer and RIA platforms. SGC Financial, based in San Mateo, California, manages over $1 billion in assets and transitioned from Securian Financial. The firm aims to leverage LPL’s technology and independence to enhance client services. LPL’s self-clearing advantage and commitment to innovation were key factors in SGC's decision. The partnership is expected to foster growth opportunities in the Bay area and beyond.
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