LPL Financial Reports Monthly Activity for May 2020

SAN DIEGO, June 16, 2020 (GLOBE NEWSWIRE) -- Leading retail investment advisory firm and independent broker-dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA), today released its monthly activity report for May 2020.

Total brokerage and advisory assets served at the end of May were approximately $745.9 billion, an increase of 3.9% compared to the end of April 2020.

Total net new assets for May were an inflow of $4.2 billion, translating to a 7.0% annualized growth rate. This includes total net new advisory assets of $3.1 billion, translating to a 10.7% annualized growth rate.

Total client cash balances at the end of May were $46.2 billion, a decrease of $0.8 billion compared to the end of April 2020. Net buying in May was $3.9 billion.

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(End of Period $ in billions, unless noted)	May	April	Change		May		Change
2020	2020	M/M		2019		Y/Y
Assets Served
Advisory Assets	364.9	348.9	4.6	%	311.3		17.2	%
Brokerage Assets	381.0	369.1	3.2	%	366.0		4.1	%
Total Brokerage and Advisory Assets	745.9	718.0	3.9	%	677.3		10.1	%
Total Net New Assets*
Net New Advisory Assets	3.1	2.8	n/m		2.8		n/m
Net New Brokerage Assets	1.1	0.7	n/m		(0.8	)	n/m
Total Net New Assets	4.2	3.4	n/m		2.0		n/m
Net Brokerage to Advisory Conversions	0.4	0.5	n/m		0.8		n/m
Client Cash Balances
Insured Cash Account Balances	33.5	33.9	(1.2	)%	20.9		60.3	%
Deposit Cash Account Balances	8.0	8.5	(5.9	)%	4.2		90.5	%
Total Insured Sweep Balances	41.5	42.4	(2.1	)%	25.1		65.3	%
Money Market Sweep Accounts	1.7	1.7	0.0	%	4.0		n/m
Purchased Money Market Funds	2.9	2.9	0.0	%	0.8		n/m
Total Money Market Balances	4.6	4.6	0.0	%	4.7		(2.1	)%
Total Client Cash Balances	46.2	47.0	(1.7	%)	29.8		55.0	%

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Net Buy (Sell) Activity	3.9	4.1	n/m	3.4	n/m
Market Indices
S&P 500 (end of period)	3,044	2,912	4.5%	2,752	10.6	%
Fed Funds Effective Rate (average bps)	5	5	0.0%	239	n/m

*Total Net New Assets equals the combination of Asset Inflows minus Outflows as well as Dividends plus Interest, minus Advisory Fees.

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.

About LPL Financial
LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation’s largest independent broker/dealer⁽⁺⁾.  We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices.  LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

⁺ Based on total revenues, Financial Planning magazine June 1996-2019.

Securities and Advisory Services offered through LPL Financial LLC, a Registered Investment Advisor. Member FINRA/SIPC.

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Jeff Mochal, (704) 733-3589
investor.lpl.com/contact-us