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 financial advisors Matt Meyers Sr. and Matthew Meyers Jr. from Crossroads Financial Services to its platforms, managing approximately $300 million in assets. The team, which specializes in financial planning for educators in Texas, aims to enhance their services by leveraging LPL's technology and support from The Financial Services Network. Matt Meyers Sr. brings over 35 years of experience, while his son joined the practice in 2012. This partnership is expected to elevate the client experience and facilitate future growth.
LPL Financial announced the addition of Glenn Drake and John Kinzer, both CFPs, along with Operations Manager Rachel Waltjen, to its broker-dealer and RIA platforms. CenterPoint Wealth Advisors, managed by Drake and Kinzer, serves approximately $225 million in assets and aims to enhance client services through LPL's technology and independent advisory model. The team, with over 60 years of combined experience, focuses on affluent families and small business owners, emphasizing proactive financial management.
LPL Financial Holdings Inc. (Nasdaq: LPLA) announced it will release its second quarter financial results on July 30, 2020, post-market close. The Company will hold a conference call at 5 p.m. ET to discuss the results, accessible via phone or webcast on their Investor Relations website. A replay of the call will be available until August 20. LPL Financial is a leading firm in the retail financial advice market, serving independent advisors and institutions with essential services for wealth management and retirement planning.
LPL Financial has announced that Ridgeline Wealth Management has joined its broker-dealer and RIA custodial platforms, bringing approximately $210 million in brokerage and advisory assets.
Founded in 2011, Ridgeline Wealth Management emphasizes a risk-based approach to asset allocation and client communication. The team's transition to LPL aims for improved fee transparency and access to advanced technology. LPL's managing director noted the advantages of size and resources without losing personalized service for advisors, enhancing support for their operations.
LPL Financial has welcomed financial advisor Corinne Koehler, who brings approximately $120 million in brokerage and advisory assets. Previously with Wells Fargo Financial Advisors Network, Koehler aims to leverage LPL's innovative technology and services to enhance her independent practice, Koehler Wealth Management. She emphasizes financial education and community involvement, holding various leadership roles locally. LPL's extensive resources and favorable fee structure are expected to benefit both Koehler and her clients, fostering continued growth and value creation.
LPL Financial reported a strong monthly activity report for May 2020, showing total brokerage and advisory assets at approximately $745.9 billion, a 3.9% increase from April. May's net new assets reached $4.2 billion, with a 7.0% annualized growth rate. Notably, net new advisory assets totaled $3.1 billion, translating to a 10.7% annualized growth rate. However, client cash balances fell to $46.2 billion, down by $0.8 billion compared to the previous month.
LPL Financial announced the affiliation of Summit Street Wealth Management with its Institution Services platform, enhancing client experience for approximately $200 million in assets previously managed under MML Investors Services.
Located in Wisconsin, the firm comprises a six-person team dedicated to personalized financial strategies. The decision to join LPL aims to improve operational independence and support for clients, with positive feedback reported regarding LPL’s technology platform. LPL’s commitment to providing comprehensive support and cutting-edge technology is highlighted by management's statement on the onboarding.
LPL Financial has launched the Assurance Plan, designed to protect the business value of independent financial advisors during unplanned exits due to death or permanent disability. This new solution guarantees a minimum purchase price based on recurring revenue multiple and facilitates commission-free sale of the advisor’s business to another qualified LPL advisor. The Assurance Plan addresses a significant gap in the advisory industry, where many advisors lack succession plans, ensuring their clients and families are protected against financial disruption.
LPL Financial announced the addition of financial advisor Lance Pelky, who manages approximately $115 million in assets, to its platforms. Pelky left Voya Financial Advisors to enhance client service through LPL's resources and technology. He emphasized the growing need for innovation in financial services, especially in light of the COVID-19 pandemic. LPL aims to support advisors in navigating rapid changes in the financial landscape, with a commitment to providing advanced resources and capabilities.
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