Lpl Financial Stock Price, News & Analysis

LPL Financial has announced that advisors Roger Frank and Michael Ward of Frank Financial Concepts have joined its broker-dealer, RIA, and custodial platforms.

The advisors bring approximately $200 million in advisory, brokerage, and retirement plan assets, transitioning from Berthel Fisher & Co.

Frank Financial Concepts, with offices in Lincoln, NE and Scottsdale, AZ, aims for holistic financial services, emphasizing client education and comprehensive planning.

Frank and Ward chose LPL for its cutting-edge technology and extensive resources, which they believe will enhance their business and client offerings.

LPL Financial supports nearly 23,000 advisors nationwide and emphasizes advisor independence and freedom in business operations.

LPL Financial Holdings (Nasdaq: LPLA) announced its April 2024 activity report, revealing a 1.9% decline in total advisory and brokerage assets to $1.41 trillion, a drop of $27.9 billion from March 2024. Despite this, the company added $12 billion in net new assets, including $5 billion from the acquisition of Crown Capital. Organic net new assets grew by $7 billion, with advisory assets increasing by $7.4 billion. Client cash balances fell slightly by $0.6 billion to $45.7 billion, while net buying was $12.3 billion. Advisory assets decreased 2.2%, brokerage assets by 1.6%. The S&P 500 and Russell 2000 indices also saw declines of 4.1% and 7.1%, respectively.

Important metrics include:

• Total advisory and brokerage assets: $1.41 trillion
• Net new assets: $12 billion
• Organic net new assets: $7 billion
• Client cash balances: $45.7 billion

LPL Financial announced that Pilot Financial, a network of 105 advisors managing $4.6 billion in assets, has joined its broker-dealer, RIA, and custodial platforms. Pilot Financial moved from Lincoln Financial to enhance service efficiency and leverage LPL’s digital capabilities. Pilot Financial, led by Chris Roney, Greg Smith, Daryl E. King, and Bill Harnden, aims to expand its national footprint. LPL, hosting nearly 23,000 financial advisors, emphasizes personalized support and strategic resources to foster growth. LPL Executive VP Scott Posner highlighted the partnership's potential to deliver increased value to clients.

LPL Financial announced that financial advisors Alain Verhille and James S. Wood have joined its high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Auctus Legacy Private Wealth Management. The advisors, formerly with Merrill Lynch, manage approximately $705 million in assets and bring over 50 years of combined experience. They will be joined by Certified Senior Advisors Erikka Moore and Kathy Isernhagen. The new team aims to provide comprehensive wealth management services for high-net-worth clients, focusing on wealth optimization and risk reduction. LPL's support structure, including advanced estate planning and complex life insurance strategies, played a significant role in their decision to join. The move underscores LPL's commitment to expanding its high-net-worth advisory capabilities.

LPL Financial announced that financial advisors Lance Dumas and Darryl Carter have joined their broker-dealer, RIA, and custodial platforms. The duo, who managed approximately $225 million in advisory, brokerage, and retirement plan assets, transitioned from Cetera to LPL Financial. Based in Orange County, California, they founded Cornerstone Financial Advisers in 2017. Dumas brings 25 years of experience in financial services, and Carter has nearly 30 years of expertise in tax and wealth management services. Their team, including Office Manager Nicole Thornton, focuses on a goals-based approach to financial planning and maintaining strong client relationships. LPL Financial praised their dedication to client-centric services and independence, emphasizing the firm's commitment to providing innovative tools and resources to enhance their business operations.

LPL Financial announced that financial advisor Tara Blair, with over 25 years of experience, has joined their broker-dealer, RIA, and custodial platforms. Blair, formerly with Lincoln Financial, manages approximately $215 million in assets.

Based in Fort Worth, TX, Blair provides advanced estate, succession, investment, and philanthropic strategies through Sage Private Wealth Services. She emphasized the benefits of LPL’s integrated technology and centralized platform for her clients.

LPL’s Executive VP, Scott Posner, welcomed Blair, highlighting LPL's commitment to supporting advisors with end-to-end capabilities.

LPL Financial announced the addition of financial advisor Garrett Oczachowski, bringing $280 million in assets from JPMorgan Chase. Oczachowski specializes in retirement income planning, investment management, and estate planning, launching Noble Traditions Wealth at LPL. His move signifies a shift towards autonomy and client-centric practices, leveraging LPL's technology and flexibility.

LPL Financial welcomed advisor Chris Kitaeff, CPFA, MBA, who joined Maher Wealth Management, bringing $385 million in assets from Merrill Lynch. Kitaeff aims to provide clients with financial freedom and personalized service on an independent platform. Maher Wealth Management, supported by LPL Strategic Wealth Services, focuses on delivering premium client experiences with an open architecture approach to wealth planning.

LPL Financial has successfully completed the acquisition of Crown Capital Securities, a wealth management business, enhancing its advisor-first focus and expanding its specialized services. Approximately $1.3 billion of assets have been onboarded, with $3.7 billion more expected in the coming months.