LPL Financial Holdings Inc. - LPLA STOCK NEWS

LPL Financial (Nasdaq: LPLA) has announced that financial advisor Jerry Rizza has joined their broker-dealer, RIA, and custodial platforms. Rizza, who previously served with Osaic, brings approximately $250 million in advisory, brokerage, and retirement plan assets to LPL. With 31 years of experience in financial services, Rizza specializes in retirement planning and behavioral investment counseling.

Based in Melville, NY, Rizza Financial Services includes two licensed assistants. The move to LPL was motivated by the desire for enhanced service experiences, office efficiencies, and a robust technology platform. LPL's advisor-centric model and integrated platform are expected to improve client service and streamline operations.

LPL Financial (LPLA) reported its Q2 2024 results, showing mixed performance. Net income was $244 million, with diluted EPS of $3.23, down 12% year-over-year. Adjusted EPS decreased 2% to $3.88. However, gross profit increased 9% to $1,079 million, and adjusted EBITDA rose 2% to $533 million. Total advisory and brokerage assets grew 21% to $1.5 trillion, with advisory assets increasing 25% to $829 billion. The company saw strong organic growth, with $29 billion in total organic net new assets. LPL's advisor count increased by 1,520 year-over-year to 23,462. The company also completed a $1 billion debt issuance to finance the Atria Wealth Solutions acquisition.

LPL Financial (Nasdaq: LPLA) has announced that Investment Advisors Financial Group, previously with Osaic, has joined LPL's broker-dealer, RIA, and custodial platforms. The team, founded in 1979 by Thomas E. Musumeci, reported serving approximately $1 billion in advisory, brokerage, and retirement plan assets. Based in Eatontown, N.J., the group consists of 22 advisors and eight support staff, led by Musumeci, James Flannery, and Annie Silvestro.

The move to LPL was driven by the team's desire for greater autonomy and enhanced client experiences through integrated technology and robust services. LPL Financial, a leader in its markets, serves nearly 23,000 financial advisors, including those at approximately 1,100 institutions and 570 RIA firms nationwide.

LPL Financial (Nasdaq: LPLA) announced that financial advisor Alex Williams, CFP®, has joined LPL's platforms to launch Stable Wealth, a new independent practice. Williams, previously with Edward Jones, reported serving approximately $170 million in assets. Based in Olympia, Washington, he brings 25 years of industry experience and focuses on retirees and the equestrian community.

Williams chose LPL for its flexibility, planning tools, and business resources. He aims to offer more holistic planning, including advanced tax and estate planning, and alternative investment opportunities. Stable Wealth will receive support from Financial Advocates, a firm offering services to independent advisors in the Pacific Northwest.

LPL Financial, founded on advisor-centric principles, serves nearly 23,000 financial advisors across approximately 1,100 institutions and 570 RIA firms nationwide. The company emphasizes advisor independence and personalized client guidance.

LPL Financial (Nasdaq: LPLA) has announced the appointment of Sushil 'Sid' Vyas as Executive Vice President and Chief Technology Officer of Infrastructure and Operations. Vyas, who brings over 25 years of experience in leading technology organizations within large financial institutions, will oversee the stability and reliability of LPL's operating platforms.

Reporting to Greg Gates, Managing Director and Chief Technology and Information Officer, Vyas joins LPL from Mizuho Americas where he served as CTO. His expertise includes managing risk platforms, driving agile transformations, leading technology delivery teams, and overseeing cloud migrations. This strategic hire underscores LPL's commitment to advancing its technology leadership and delivering a world-class operating platform to advisors and institutions.

LPL Financial (Nasdaq: LPLA) has announced that Summit Planning Group, a team of advisors previously with Lincoln Financial, has joined LPL's broker-dealer, RIA, and custodial platforms. The Summit Planning Group, founded in 1995, reported serving approximately $750 million in advisory, brokerage, and retirement plan assets. The team, based in Connecticut, includes seven financial advisors with diverse backgrounds in accounting, finance, tax, and investments.

Summit Planning Group chose LPL Financial for its stability, industry-leading capabilities, and strategic business resources. The move is expected to enhance their ability to provide customized plans and ongoing guidance for clients' complex financial situations. LPL Financial, a Fortune 500 company, serves nearly 23,000 financial advisors and is committed to supporting the advisor-mediated model in the financial services industry.

LPL Financial announced that financial advisors Justin Gore and Michael Fusco have joined their broker-dealer, RIA, and custodial platforms to create Integrity Financial Group. The new practice, which manages approximately $475 million in assets, aims to provide customized financial planning and wealth management services. Gore and Fusco, who hail from Ameriprise, bring 26 and 12 years of experience, respectively. The rebranding follows the retirement of senior partner Hugh Martin. LPL Financial's platform was chosen for its flexibility and client-first approach, aligning with Integrity Financial Group's guiding principles.

LPL Financial has released its 2024 Midyear Outlook titled 'Still Waiting for the Turn.' The report highlights continued economic growth in the U.S., exceeding expectations despite high inflation and late-cycle pressures. However, a potential slowdown is anticipated, with consumer spending expected to decelerate and labor market conditions projected to soften by year-end.

Geopolitical tensions, especially between the U.S. and China, and the upcoming U.S. presidential election are expected to increase market volatility. Key investment insights include the attractiveness of fixed income assets due to high Treasury yields and a cautious approach to equities owing to elevated valuations and potential volatility.

Chief Economist Jeffrey Roach noted the remarkable resilience of the U.S. economy, while Chief Investment Officer Marc Zabicki emphasized the importance of understanding market drivers to adapt investment strategies.

LPL Financial has welcomed father-daughter advisors Dan and Olivia Countiss, who have launched Countiss Wealth Management. The new independent practice will leverage LPL's broker-dealer, RIA, and custodial platforms. Together, they manage approximately $200 million in advisory, brokerage, and retirement plan assets. Dan, a U.S. Army veteran, and Olivia, a financial advisor since 2019, bring nearly 25 years of combined experience. The move aims to enhance client services with improved financial planning, greater investment flexibility, and advanced technology. Joining them are Investment Analyst Chandler Duke and Client Services Associate Christy Walker.