LPL Financial Reports Monthly Activity for February 2025

Rhea-AI Summary

LPL Financial (LPLA) reported its February 2025 monthly activity, showing total advisory and brokerage assets of $1.82 trillion, a 0.6% increase ($11.3 billion) from January 2025. Total net new assets reached $24.5 billion, including $0.7 billion in acquired assets.

The company achieved $23.8 billion in organic net new assets, representing a 15.8% annualized growth rate. This included $13.7 billion from Prudential Advisors and $0.3 billion from Wintrust onboarding, while $0.2 billion off-boarded from misaligned large OSJs. Excluding these impacts, organic net new assets were $10.0 billion (6.6% annualized growth).

Client cash balances decreased by $0.9 billion to $51.3 billion, while net buying activity reached $14.3 billion in February.

Positive

• Strong organic net new assets of $23.8 billion (15.8% annualized growth)
• Successful onboarding of $13.7 billion from Prudential Advisors
• Robust net buying activity of $14.3 billion
• Total assets increased by $11.3 billion to $1.82 trillion

Negative

• Client cash balances declined by $0.9 billion
• $0.2 billion in assets off-boarded due to misaligned large OSJs

Insights

Financial Analyst

LPL Financial's February activity report reveals impressive growth metrics that significantly exceed industry norms. The firm reported $24.5 billion in total net new assets for February, with organic net new assets reaching $23.8 billion - translating to a remarkable 15.8% annualized growth rate.

The successful onboarding of $13.7 billion from Prudential Advisors and $0.3 billion from Wintrust demonstrates LPL's execution excellence in integrating acquired assets. Even excluding these acquisitions and accounting for planned separations, LPL still achieved $10 billion in organic net new assets, representing a healthy 6.6% annualized growth rate.

Total assets under management reached $1.82 trillion, increasing $11.3 billion (0.6%) month-over-month. The $14.3 billion in net buying activity indicates strong client engagement and investment appetite. While client cash balances decreased slightly by $0.9 billion to $51.3 billion, this likely reflects assets being deployed into investments rather than held in cash - typically a positive indicator of client confidence.

For wealth management firms, net new assets drive future revenue streams, making LPL's February performance particularly noteworthy. The combination of strategic acquisitions and solid organic growth positions LPL favorably against competitors in the financial advisor-mediated marketplace.

SAN DIEGO, March 20, 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 February 2025.

Total advisory and brokerage assets at the end of February were $1.82 trillion, an increase of $11.3 billion, or 0.6%, compared to the end of January 2025.

Total net new assets for February were $24.5 billion, which included $0.7 billion of acquired net new assets.

Total organic net new assets for February were $23.8 billion, translating to a 15.8% annualized growth rate. This included $13.7 billion of assets from Prudential Advisors (“Prudential”) and $0.3 billion of assets from Wintrust Investments, LLC and certain private client business at Great Lakes Advisors, LLC (collectively, “Wintrust”) that onboarded in February, and $0.2 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 $10.0 billion, translating to a 6.6% annualized growth rate.

Total client cash balances at the end of February were $51.3 billion, a decrease of $0.9 billion compared to the end of January 2025. Net buying in February was $14.3 billion.

(End of period $ in billions, unless noted)	February	January	Change		February	Change
	2025	2025	M/M		2024	Y/Y
Advisory and Brokerage Assets
Advisory assets	995.0	992.4	0.3%		768.4	29.5%
Brokerage assets	828.2	819.4	1.1%		634.9	30.4%
Total Advisory and Brokerage Assets	1,823.1	1,811.8	0.6%		1,403.3	29.9%
Organic Net New Assets
Organic net new advisory assets	9.6	13.4	n/m		6.4	n/m
Organic net new brokerage assets	14.1	20.5	n/m		0.4	n/m
Total Organic Net New Assets	23.8	34.0	n/m		6.8	n/m
Acquired Net New Assets
Acquired net new advisory assets	0.0	0.1	n/m		0.0	n/m
Acquired net new brokerage assets	0.7	0.0	n/m		0.0	n/m
Total Acquired Net New Assets	0.7	0.1	n/m		0.0	n/m
Total Net New Assets
Net new advisory assets	9.6	13.5	n/m		6.4	n/m
Net new brokerage assets	14.8	20.6	n/m		0.4	n/m
Total Net New Assets	24.5	34.1	n/m		6.8	n/m
Net brokerage to advisory conversions	1.9	2.1	n/m		1.3	n/m
Client Cash Balances
Insured cash account sweep	35.6	36.2	(1.7%)		33.2	7.2%
Deposit cash account sweep	10.2	10.0	2.0%		9.0	13.3%
Total Bank Sweep	45.8	46.3	(1.1%)		42.2	8.5%
Money market sweep	4.0	4.1	(2.4%)		2.3	73.9%
Total Client Cash Sweep Held by Third Parties	49.8	50.4	(1.2%)		44.5	11.9%
Client cash account(1)	1.5	1.8	(16.7%)		1.5	—%
Total Client Cash Balances	51.3	52.2	(1.7%)		46.0	11.5%
Net buy (sell) activity	14.3	14.5	n/m		13.0	n/m
Market Drivers
S&P 500 Index (end of period)	5,955	6,041	(1.4%)		5,096	16.8%
Russell 2000 Index (end of period)	2,163	2,288	(5.5%)		2,055	5.3%
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 nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 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. 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 LPL Financial's (LPLA) total asset growth in February 2025?

LPLA's total advisory and brokerage assets grew by $11.3 billion (0.6%) to $1.82 trillion in February 2025.

How much in new assets did LPLA acquire from Prudential Advisors in February 2025?

LPL Financial onboarded $13.7 billion in assets from Prudential Advisors in February 2025.

What was LPLA's organic net new asset growth rate in February 2025?

LPLA's organic net new assets were $23.8 billion, representing a 15.8% annualized growth rate.

How did LPL Financial's client cash balances change in February 2025?

Client cash balances decreased by $0.9 billion to $51.3 billion compared to January 2025.

What was the net buying activity for LPLA in February 2025?

Net buying activity for LPL Financial reached $14.3 billion in February 2025.