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LPL Financial Holdings Inc. - LPLA STOCK NEWS

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.

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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.

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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.

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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.

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LPL Financial Holdings announced it will release its second quarter 2024 financial results on July 25, 2024, after market close. A conference call to discuss the results is scheduled for 5 p.m. ET on the same day. This call will be accessible for replay at investor.lpl.com/events.

LPL Financial, a leader in the financial advisory market, serves nearly 23,000 advisors, including those at approximately 1,100 institutions and 570 registered investment advisor firms nationwide. The company emphasizes independence, allowing advisors to select the business models, services, and technology resources that best suit their needs.

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LPL Financial announced that seasoned advisor Jim Zack and his daughter Amanda Zack have joined LPL's employee advisor channel, Linsco by LPL Financial, to establish The Zack Wealth Group. They previously served approximately $290 million in advisory, brokerage, and retirement plan assets at Morgan Stanley. The Zacks are based in Washington, D.C. Jim Zack, who has been fascinated by the stock market since his youth, emphasized their service-oriented, client-centered approach.

Amanda Zack joined her father's practice eight years ago, and they decided to move to Linsco for more flexibility and independence. Linsco provides advisors with access to LPL's integrated wealth management platform and various business resources, along with support from experienced branch management, marketing consultants, technology consultants, and service teams. Jim Zack noted the ease and freedom of running their practice at LPL, which aligns with their family-focused approach.

LPL's Executive Vice President, Scott Posner, welcomed the Zacks and highlighted LPL's commitment to providing advisors the flexibility and support needed to differentiate themselves and enhance the client experience. LPL Financial serves nearly 23,000 financial advisors and emphasizes the importance of independence and personalized client guidance.

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LPL Financial announced that First Summit Capital Management has joined their broker-dealer, RIA, and custodial platforms. First Summit, led by Thomas J. Cooney and Mark Freed, manages approximately $380 million in assets. The move aligns them with Momentum Wealth Partners, an LPL-affiliated firm. Cooney and Freed bring extensive experience in financial services and wealth management. They aim to leverage LPL Financial's capabilities to provide personalized investment strategies and comprehensive financial planning. LPL's open architecture platform and robust business solutions were significant factors in their decision to join.

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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.

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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.

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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.

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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.

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FAQ

What services does LPL Financial offer?

LPL Financial provides brokerage and investment advisory services, retirement plan advisory, compliance and clearing services, and customized financial planning.

How many financial advisors does LPL support?

LPL Financial supports over 22,000 financial advisors and nearly 1,100 enterprises across the United States.

What is the total value of assets managed by LPL advisors?

As of 2023, LPL's advisors manage over $1.3 trillion in client assets.

What recent acquisitions has LPL Financial made?

LPL Financial recently acquired the wealth management business of Crown Capital Securities, expected to bring approximately $5 billion in assets under management.

What is LPL Financial's commitment to technology?

LPL Financial is dedicated to technological innovation, offering proprietary tech solutions to enhance operational efficiency and client service quality.

What are LPL Financial's core values?

LPL Financial's core values include independence, client-centric service, and providing advisors with the freedom to choose their business models and technology resources.

How does LPL Financial support the growth of its advisors?

LPL Financial offers extensive practice management programs, comprehensive training, and solutions like the Liquidity & Succession platform to help advisors streamline operations and deliver superior client experiences.

What is the significance of LPL's market position?

LPL Financial is recognized as the largest independent broker-dealer based on total revenues from 1996 to 2015 and is one of the fastest-growing RIA custodians.

How does LPL ensure the success of its advisors?

LPL provides advisors with the tools, resources, and flexibility needed to manage their practices and client relationships effectively, ensuring their success.

What are LPL's recent financial performance highlights?

LPL reported $1.40 trillion in total assets as of February 2024, marking a 3.0% increase from the previous month. The firm also achieved a 6.0% annualized growth rate in total net new assets for February.

LPL Financial Holdings Inc.

Nasdaq:LPLA

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LPLA Stock Data

20.62B
74.71M
0.68%
98.28%
0.89%
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