LPL Financial Reports Monthly Activity for July 2025

Rhea-AI Summary

LPL Financial (NASDAQ:LPLA) has released its July 2025 monthly activity report, showcasing significant growth in assets and client engagement. Total advisory and brokerage assets reached $1.94 trillion, representing a 1.1% increase ($20.2 billion) from June 2025. The company reported $5.4 billion in total organic net new assets, achieving a 3.4% annualized growth rate, despite a $1.8 billion off-boarding from misaligned large OSJs.

Key metrics include $7.5 billion in net new advisory assets, $13.7 billion in net buying activity, and total client cash balances of $49.5 billion. The company's year-over-year performance shows remarkable growth, with advisory assets up 26.6% and brokerage assets increasing 27.1% compared to July 2024.

Positive

• None.

Negative

• $1.8 billion of assets off-boarded due to separation from misaligned large OSJs
• Total client cash balances decreased by $1.1 billion to $49.5 billion
• Net new brokerage assets showed negative flow of $2.0 billion
• Client cash account balances declined 20% month-over-month

Insights

Financial Analyst

LPL Financial shows solid growth with $1.94T in assets and 3.4% annualized growth despite some client separation, indicating healthy business fundamentals.

LPL Financial's July 2025 activity report demonstrates continued growth momentum with total advisory and brokerage assets reaching $1.94 trillion, a 1.1% increase from June. The 26.8% year-over-year asset growth is particularly impressive, significantly outpacing market indices (S&P 500 up 14.8%).

The firm generated $5.4 billion in organic net new assets, translating to a 3.4% annualized growth rate. This figure includes $1.8 billion of assets that off-boarded from "misaligned large OSJs" (Office of Supervisory Jurisdiction). Excluding this planned separation, organic growth would have been $7.2 billion or 4.5% annualized – demonstrating management's willingness to sacrifice short-term growth for strategic alignment.

Advisory assets ($1.08 trillion) continue to outpace brokerage assets ($862.4 billion) in growth rate, with advisory assets increasing 1.5% month-over-month versus 0.5% for brokerage. This shift is further evidenced by $2.4 billion in net brokerage to advisory conversions, highlighting the industry-wide trend toward fee-based models.

Client cash balances decreased by $1.1 billion to $49.5 billion, representing client deployment into markets as shown by the $13.7 billion in net buying activity. This cash deployment suggests client confidence in market conditions while maintaining substantial dry powder (2.6% of total assets) for future opportunities.

The migration from money market sweeps (down 8.1%) to investment products indicates clients are seeking higher returns as Fed Funds rates remain stable at 4.33%. LPL's ability to maintain 12.5% higher cash balances year-over-year despite market appreciation demonstrates strong client acquisition and retention.

SAN DIEGO, Aug. 21, 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 July 2025.

Total advisory and brokerage assets at the end of July were $1.94 trillion, an increase of $20.2 billion, or 1.1%, compared to the end of June 2025.

Total organic net new assets for July were $5.4 billion, translating to a 3.4% annualized growth rate. This included $1.8 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 $7.2 billion, translating to a 4.5% annualized growth rate.

Total client cash balances at the end of July were $49.5 billion, a decrease of $1.1 billion compared to the end of June 2025. Net buying in July was $13.7 billion.

(End of period $ in billions, unless noted)	July	June	Change	July	Change
	2025	2025	M/M	2024	Y/Y
Advisory and Brokerage Assets
Advisory assets	1,077.0	1,060.7	1.5%	850.6	26.6%
Brokerage assets	862.4	858.5	0.5%	678.7	27.1%
Total Advisory and Brokerage Assets	1,939.4	1,919.2	1.1%	1,529.3	26.8%
Organic Net New Assets
Organic net new advisory assets	7.5	7.9	n/m	6.8	n/m
Organic net new brokerage assets	(2.0)	0.1	n/m	2.2	n/m
Total Organic Net New Assets	5.4	8.0	n/m	9.0	n/m
Acquired Net New Assets
Acquired net new advisory assets	0.0	0.0	n/m	0.0	n/m
Acquired net new brokerage assets	0.0	0.0	n/m	0.0	n/m
Total Acquired Net New Assets	0.0	0.0	n/m	0.0	n/m
Total Net New Assets
Net new advisory assets	7.5	7.9	n/m	6.8	n/m
Net new brokerage assets	(2.0)	0.1	n/m	2.2	n/m
Total Net New Assets	5.5	8.0	n/m	9.0	n/m
Net brokerage to advisory conversions	2.4	2.4	n/m	1.0	n/m
Client Cash Balances
Insured cash account sweep	33.7	34.2	(1.5%)	31.1	8.4%
Deposit cash account sweep	10.8	10.8	—%	9.1	18.7%
Total Bank Sweep	44.4	44.9	(1.1%)	40.2	10.4%
Money market sweep	3.4	3.7	(8.1%)	2.3	47.8%
Total Client Cash Sweep Held by Third Parties	47.9	48.6	(1.4%)	42.5	12.7%
Client cash account	1.6	2.0	(20.0%)	1.5	6.7%
Total Client Cash Balances	49.5	50.6	(2.2%)	44.0	12.5%
Net buy (sell) activity	13.7	12.7	n/m	12.9	n/m
Market Drivers
S&P 500 Index (end of period)	6,339	6,205	2.2%	5,522	14.8%
Russell 2000 Index (end of period)	2,212	2,175	1.7%	2,254	(1.9%)
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. 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 July 2025?

LPL Financial's total advisory and brokerage assets grew by $20.2 billion to reach $1.94 trillion, representing a 1.1% increase from June 2025.

How much were LPL Financial's organic net new assets in July 2025?

LPL Financial reported $5.4 billion in total organic net new assets, translating to a 3.4% annualized growth rate. Without the $1.8 billion off-boarding impact, organic net new assets were $7.2 billion (4.5% annualized growth rate).

What happened to LPL Financial's client cash balances in July 2025?

LPL Financial's total client cash balances decreased by $1.1 billion to $49.5 billion compared to June 2025, representing a 2.2% month-over-month decline.

How did LPL Financial's advisory assets perform year-over-year in July 2025?

LPL Financial's advisory assets showed strong growth, increasing by 26.6% year-over-year to reach $1.077 trillion in July 2025.

What was LPL Financial's net buying activity in July 2025?

LPL Financial reported net buying activity of $13.7 billion in July 2025, an increase from $12.7 billion in June 2025.