LPL Financial Reports Monthly Activity for August 2025

Rhea-AI Summary

LPL Financial (NASDAQ:LPLA) reported significant growth in August 2025, with total advisory and brokerage assets reaching $2.26 trillion, a 16.7% increase from July 2025. The company's expansion was primarily driven by the acquisition of Commonwealth Financial Network, which contributed $275.0 billion in acquired net new assets.

Total organic net new assets for August were $17.8 billion, representing an 11.0% annualized growth rate. This included $13.8 billion from First Horizon Bank onboarding and accounted for $2.2 billion in planned separations. Client cash balances increased to $52.7 billion, up $3.2 billion from July, with $3.9 billion coming from the Commonwealth acquisition. Net buying activity remained strong at $14.2 billion.

Positive

• Acquisition of Commonwealth Financial Network added $275.0 billion in net new assets
• Total advisory and brokerage assets increased 16.7% to $2.26 trillion
• Strong organic net new assets of $17.8 billion (11.0% annualized growth rate)
• Client cash balances grew by $3.2 billion to $52.7 billion
• Robust net buying activity of $14.2 billion

Negative

• $2.2 billion of assets off-boarded due to separation from misaligned large OSJs

Insights

Financial Services Analyst

LPL's August assets surged 16.7% to $2.26T, primarily from Commonwealth acquisition ($275B), with healthy organic growth and increased cash balances.

LPL Financial's August 2025 metrics reveal a transformative month driven by the Commonwealth Financial Network acquisition, which added $275 billion in assets. This strategic acquisition catapulted total assets to $2.26 trillion, representing a 16.7% monthly increase and a remarkable 45.1% year-over-year growth.

The acquisition aside, LPL's organic growth metrics show underlying strength. Organic net new assets reached $17.8 billion in August, translating to an 11.0% annualized growth rate. This figure includes $13.8 billion from First Horizon Bank's onboarding and accounts for $2.2 billion of outflows from the planned separation from misaligned OSJs. Excluding these one-time events, core organic growth was $6.2 billion (3.9% annualized) – still solid in the wealth management space.

Client cash balances increased to $52.7 billion, up $3.2 billion from July, with $3.9 billion coming from the Commonwealth acquisition. The continued net buying activity of $14.2 billion demonstrates client engagement despite market volatility.

The advisory segment continues to outpace brokerage, with advisory assets growing 21.5% month-over-month versus 10.8% for brokerage. This shift toward advisory services (now 57.8% of total assets) reflects the industry's migration toward recurring revenue models and more comprehensive financial planning – typically generating higher margins and more stable revenue streams for wealth management firms.

The Commonwealth acquisition transforms LPL's competitive positioning, potentially yielding significant economies of scale in technology, operations, and compliance – all critical in today's regulatory environment. This consolidation continues the wealth management industry's trend toward larger, more integrated platforms that can spread fixed costs across broader asset bases.

SAN DIEGO, Sept. 18, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for August 2025.

Total advisory and brokerage assets at the end of August were $2.26 trillion, an increase of $324.1 billion, or 16.7%, compared to the end of July 2025.

Total net new assets for August were $292.8 billion, which included $275.0 billion of acquired net new assets resulting from the acquisition of Commonwealth Financial Network ("Commonwealth").

Total organic net new assets for August were $17.8 billion, translating to an 11.0% annualized growth rate. This included $13.8 billion of assets from First Horizon Bank that onboarded in August, and $2.2 billion of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Prior to these impacts, organic net new assets were $6.2 billion, translating to a 3.9% annualized growth rate.

Total client cash balances at the end of August were $52.7 billion, an increase of $3.2 billion compared to the end of July 2025. This included $3.9 billion resulting from the acquisition of Commonwealth. Net buying in August was $14.2 billion.

(End of period $ in billions, unless noted)	August	July	Change	August	Change
	2025	2025	M/M	2024	Y/Y
Advisory and Brokerage Assets
Advisory assets	1,308.3	1,077.0	21.5%	869.5	50.5%
Brokerage assets	955.3	862.4	10.8%	690.6	38.3%
Total Advisory and Brokerage Assets	2,263.5	1,939.4	16.7%	1,560.1	45.1%
Organic Net New Assets
Organic net new advisory assets	11.8	7.5	n/m	5.4	n/m
Organic net new brokerage assets	6.1	(2.0)	n/m	1.1	n/m
Total Organic Net New Assets	17.8	5.4	n/m	6.6	n/m
Acquired Net New Assets
Acquired net new advisory assets	199.3	0.0	n/m	0.2	n/m
Acquired net new brokerage assets	75.7	0.0	n/m	0.0	n/m
Total Acquired Net New Assets	275.0	0.0	n/m	0.3	n/m
Total Net New Assets
Net new advisory assets	211.1	7.5	n/m	5.7	n/m
Net new brokerage assets	81.7	(2.0)	n/m	1.2	n/m
Total Net New Assets	292.8	5.5	n/m	6.8	n/m
Net brokerage to advisory conversions	2.1	2.4	n/m	1.3	n/m

Client Cash Balances
Insured cash account sweep	35.0	33.7	3.9%	30.4	15.1%
Deposit cash account sweep	12.2	10.8	13.0%	9.3	31.2%
Total Bank Sweep	47.2	44.4	6.3%	39.7	18.9%
Money market sweep	4.1	3.4	20.6%	2.2	86.4%
Total Client Cash Sweep Held by Third Parties	51.3	47.9	7.1%	41.9	22.4%
Client cash account	1.4	1.6	(12.5%)	1.4	—%
Total Client Cash Balances	52.7	49.5	6.5%	43.3	21.7%
Net buy (sell) activity	14.2	13.7	n/m	12.6	n/m
Market Drivers
S&P 500 Index (end of period)	6,460	6,339	1.9%	5,648	14.4%
Russell 2000 Index (end of period)	2,366	2,212	7.0%	2,218	6.7%
Fed Funds daily effective rate (average bps)	433	433	—%	533	(18.8%)

For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.

Contacts

Investor Relations
investor.relations@lplfinancial.com

Media Relations
media.relations@lplfinancial.com

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $1.9 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. Figures provided as of June 30, 2025. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisers and broker-dealers. Member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial or LPL Enterprise.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

FAQ

What was LPLA's total assets under management in August 2025?

LPL Financial's total advisory and brokerage assets reached $2.26 trillion at the end of August 2025, representing a 16.7% increase from July 2025.

How much did the Commonwealth Financial Network acquisition contribute to LPLA's assets?

The Commonwealth Financial Network acquisition contributed $275.0 billion in acquired net new assets to LPL Financial in August 2025.

What was LPLA's organic growth rate in August 2025?

LPL Financial's organic net new assets were $17.8 billion, translating to an 11.0% annualized growth rate. Excluding First Horizon Bank onboarding and planned separations, organic net new assets were $6.2 billion (3.9% annualized growth rate).

How much were LPLA's total client cash balances in August 2025?

LPL Financial's total client cash balances reached $52.7 billion in August 2025, an increase of $3.2 billion from July 2025, including $3.9 billion from the Commonwealth acquisition.

What was LPLA's net buying activity in August 2025?

LPL Financial reported net buying activity of $14.2 billion in August 2025, compared to $13.7 billion in July 2025.