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 announced that financial advisor Danielle Qualls has joined their broker-dealer, RIA, and custodial platforms, teaming up with Bergkamp Financial. Qualls, who has managed approximately $160 million in advisory, brokerage, and retirement plan assets, previously worked with Stifel, Nicolaus, and Co. She brings expertise in multigenerational financial strategies and aims to enhance services and collaboration with the Bergkamp team. Bergkamp Financial, led by Amy McKinley and Lori Zern, has been with LPL since 2021 and appreciates LPL's robust research capabilities and open architecture platform. The addition of Qualls is seen as a strategic move to grow and expand their service offerings. LPL Financial serves nearly 23,000 advisors, emphasizing independence and personalized client relationships.
LPL Financial Holdings Inc. (Nasdaq: LPLA) reported its monthly activity for May 2024. Total advisory and brokerage assets reached $1.46 trillion, a 3.6% increase from April 2024. Net new assets for May were $11.2 billion, reflecting a 9.5% annualized growth rate. Net new advisory assets were $9.9 billion, translating to an impressive 15.3% annualized growth rate. However, total client cash balances fell by $1.2 billion to $44.5 billion. Notably, net buying activity hit a record $15 billion for the month. The report also highlighted significant market drivers, including a 4.8% rise in the S&P 500 Index and a 4.9% rise in the Russell 2000 Index.
LPL Financial announced that financial advisor W. Scott Hengerer, CMFC™, CRPC, has joined their platforms to launch James River Private Wealth. Hengerer, previously with Ameriprise, manages approximately $160 million in assets and brings 26 years of wealth management experience. His team includes Martha Kerr, Devin Burton, and Breann Dooley. James River Private Wealth, named after Virginia's James River, emphasizes bespoke, client-focused financial advice. Hengerer praises LPL's commitment to independence and its advanced technology and resources. LPL's EVP, Scott Posner, welcomes the new firm, emphasizing LPL’s support in helping their business thrive.
LPL Financial announced that financial advisor Tom Russell and his sons, Brian and Charles, have joined LPL’s Linsco division to launch Russell Wealth Partners. The team, previously with Merrill Lynch, manages approximately $250 million in assets. They chose LPL for its advanced technology, autonomy, and support, allowing them to focus on personalized client services. LPL’s Executive VP Scott Posner highlighted the firm’s commitment to supporting advisors with comprehensive business solutions and innovative technology.
LPL Financial announced that advisors Stephen Shevlin and Jonathan Joelner have joined its platforms to establish 1818 Wealth Management.
The team, managing approximately $300 million in assets, moves from Stifel, Nicolaus and Co.
Based in Swansea, Ill., the advisors have nearly 50 years of experience and emphasize a client-first approach.
1818 Wealth Management aims to leverage LPL's resources, including marketing and retirement tools, to enhance their practice.
LPL Executive VP Scott Posner highlighted the robust resources and integrated technology available to support the new practice.
LPL Financial has announced that financial advisors Tim Woodall and Dustin Raring have launched Highway One Capital, an independent practice supported by LPL Strategic Wealth Services. The team, which manages approximately $500 million in assets, joins from First Republic and is based in Newport Beach, California.
Woodall and Raring, who have over 55 years of combined industry experience, focus on personalized wealth management for business owners and high-net-worth families. They chose LPL for its entrepreneurial culture and comprehensive support, including integrated technology and strategic business resources.
The new affiliation allows Highway One Capital to leverage LPL's sophisticated wealth management platform and dedicated support teams, enabling them to better serve their clients. LPL's Executive VP, Scott Posner, expressed commitment to supporting the new practice with advanced resources and strategic solutions.
LPL Financial (Nasdaq: LPLA) has announced that financial advisor David Hilbig, CFP®, has joined its broker-dealer, RIA, and custodial platforms. Hilbig, previously with Corebridge Financial, manages approximately $275 million in advisory, brokerage, and retirement assets. With over 20 years of experience, he will now operate under the new name Lifetime Legacy Wealth Solutions. Hilbig emphasizes trust, integrity, and transparency in his client relationships and prioritizes acting as a fiduciary. LPL's resources and technology will help Hilbig enhance his services, focusing on financial education and comprehensive planning.
LPL Financial (Nasdaq: LPLA) announced that Cousino Wealth Advisors, led by Todd Cousino, Nicholas Hawk, and Charles Moyer, has joined their employee advisor channel, Linsco by LPL Financial. The team, which oversees approximately $265 million in assets, previously operated under Ameriprise and specializes in clients from the engineering and automotive sectors. The advisors seek to leverage LPL's advanced technology and integrated wealth management platform to enhance client experiences and office efficiencies. This move allows them to maintain their client relationships while benefiting from LPL’s robust business resources and support systems.
LPL Financial announced the onboarding of financial advisor Tre Panagos, who has transitioned from Edward Jones. Panagos, who manages approximately $265 million in advisory, brokerage, and retirement plan assets, aims to establish Generational Asset Planning. Based in Santa Fe, N.M., Panagos focuses on comprehensive investment strategies, working with various professionals to help clients build and transfer wealth across generations. LPL's culture of independence and advanced technology aligns well with Panagos' vision. LPL welcomes the Panagos family, committed to supporting their multigenerational practice.
LPL Financial announced on May 30, 2024, that advisors from Highland Partners Financial Services have joined its broker-dealer, RIA, and custodial platforms. Highland Partners, led by Managing Partner G. Mark Hamby, manage over $400 million in advisory, brokerage, and retirement plan assets. They transitioned from Momentum Independent Network, a Hilltop Holdings subsidiary. The team includes experienced advisors from Virginia, Pennsylvania, and New Jersey, focusing on investment strategies and holistic financial planning. Hamby emphasized the entrepreneurial and independent spirit fostered at Highland Partners, which aligns with LPL's cutting-edge technology and commitment to individual investors. Scott Posner, LPL's Executive Vice President, welcomed the team and reiterated LPL's dedication to supporting advisors' growth and success.
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