LPL Financial Reports Monthly Activity for October 2025

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) reported October 2025 monthly activity. Total advisory and brokerage assets reached $2.35 trillion, up $36.6 billion (+1.6% month-over-month) and 40.5% year-over-year. Total organic net new assets were $7.3 billion (3.8% annualized), including $0.7 billion from First Horizon onboarding and $0.5 billion off-boarded due to a planned separation.

Client cash balances ended at $54.9 billion (down $0.9 billion M/M); net buying in October was $14.3 billion. Key market drivers: S&P 500 6,840 (2.3% M/M).

Positive

• Total advisory and brokerage assets +40.5% YoY to $2.35T
• Advisory assets +50.9% YoY to $1.374T
• Total organic net new assets $7.3B (3.8% annualized)

Negative

• Client cash balances down $0.9B month-over-month to $54.9B
• $0.5B off-boarded from planned separation of large OSJs

Insights

Wealth Management Strategist

LPL reported asset growth in October with continued organic net inflows and modest shifts in client cash balances.

Business mechanism: LPL Financial ended October with 2.35 trillion in advisory and brokerage assets, up 36.6 billion month‑over‑month (a 1.6% increase). Total organic net new assets were 7.3 billion, shown as a 3.8% annualized growth rate, with 0.7 billion added from First Horizon Bank onboarding and 0.5 billion off‑boarded due to the planned separation from certain large OSJs. Net buying totaled 14.3 billion, and the S&P 500 closed the period at 6,840, a listed market driver.

Dependencies and risks: the headline growth depends on the persistence of organic inflows and on one‑time onboarding/offboarding events disclosed. Client cash balances fell to 54.9 billion (down 1.6% M/M), which could alter fee mix if sustained. The figures rely on monthly activity timing and reported conversions from brokerage to advisory, so month‑to‑month volatility and the composition of inflows matter for recurring revenue.

Concrete items to watch over the next month: whether organic net new assets remain near reported levels absent material acquisitions, further onboarding or offboarding items, changes in total client cash balances, and monthly net buy activity. Reassess after the next monthly release to confirm trend stability and any impact on advisory fee revenue.

SAN DIEGO, Nov. 20, 2025 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for October 2025.

Total advisory and brokerage assets at the end of October were $2.35 trillion, an increase of $36.6 billion, or 1.6%, compared to the end of September 2025.

Total organic net new assets for October were $7.3 billion, translating to a 3.8% annualized growth rate. This included $0.7 billion of assets from First Horizon Bank that onboarded in October, and $0.5 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 $7.0 billion, translating to a 3.7% annualized growth rate.

Total client cash balances at the end of October were $54.9 billion, a decrease of $0.9 billion compared to the end of September 2025. Net buying in October was $14.3 billion.

(End of period $ in billions, unless noted)	October		September		Change		October		Change
	2025		2025		M/M		2024		Y/Y
Advisory and Brokerage Assets
Advisory assets	1,374.4		1,346.9		2.0%		910.6		50.9%
Brokerage assets	976.8		967.7		0.9%		762.7		28.1%
Total Advisory and Brokerage Assets	2,351.1		2,314.5		1.6%		1,673.3		40.5%
Organic Net New Assets
Organic net new advisory assets	9.2		10.4		n/m		8.8		n/m
Organic net new brokerage assets	(2.0)		(1.0)		n/m		(0.5)		n/m
Total Organic Net New Assets	7.3		9.4		n/m		8.3		n/m
Acquired Net New Assets(1)
Acquired net new advisory assets	0.0		0.0		n/m		21.3		n/m
Acquired net new brokerage assets	0.0		0.0		n/m		67.0		n/m
Total Acquired Net New Assets	0.0		0.0		n/m		88.3		n/m
Total Net New Assets
Net new advisory assets	9.2		10.4		n/m		30.1		n/m
Net new brokerage assets	(2.0)		(1.0)		n/m		66.5		n/m
Total Net New Assets	7.3		9.4		n/m		96.6		n/m
Net brokerage to advisory conversions	2.3		2.3		n/m		1.1		n/m
Client Cash Balances
Insured cash account sweep	36.4		36.9		(1.4%)		34.7		4.9%
Deposit cash account sweep	12.8		13.0		(1.5%)		9.7		32.0%
Total Bank Sweep	49.2		49.9		(1.4%)		44.4		10.8%
Money market sweep	4.1		4.2		(2.4%)		2.6		57.7%
Total Client Cash Sweep Held by Third Parties	53.2		54.1		(1.7%)		47.0		13.2%
Client cash account	1.6		1.8		(11.1%)		1.3		23.1%
Total Client Cash Balances	54.9		55.8		(1.6%)		48.3		13.7%
Net buy (sell) activity	14.3		13.9		n/m		12.5		n/m
Market Drivers
S&P 500 Index (end of period)	6,840		6,688		2.3%		5,705		19.9%
Russell 2000 Index (end of period)	2,479		2,436		1.8%		2,197		12.9%
Fed Funds daily effective rate (average bps)	408		422		(3.3%)		483		(15.5%)

For additional information regarding these and other Company 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 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 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. Members 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 were LPLA's total advisory and brokerage assets at October 31, 2025?

LPL reported $2.35 trillion in total advisory and brokerage assets at the end of October 2025.

How much organic net new assets did LPL report for October 2025 (LPLA)?

LPL reported $7.3 billion of total organic net new assets in October 2025, a 3.8% annualized growth rate.

What impact did First Horizon onboarding have on LPLA's October 2025 results?

First Horizon onboarding contributed $0.7 billion to October 2025 net new assets.

Why did LPL's client cash balances change in October 2025 (LPLA)?

Client cash balances fell $0.9 billion month-over-month to $54.9 billion; net buying in October was $14.3 billion.

How did LPLA's advisory assets perform year-over-year in October 2025?

Advisory assets were $1.374 trillion, up 50.9% year-over-year as of October 2025.