Welcome to our dedicated page for LPL Financial Holdings news (Ticker: LPLA), a resource for investors and traders seeking the latest updates and insights on LPL Financial Holdings stock.
LPL Financial Holdings Inc. operates a wealth management platform for financial advisors, broker-dealer representatives, registered investment advisers and financial institutions. News about LPLA centers on advisor and team affiliations, broker-dealer and RIA platform growth, custody and advisory asset trends, and affiliation models such as Linsco and LPL Independent Advisor Network.
Company updates also cover quarterly financial results, organic and recruited asset flows, client cash balances, capital and liquidity measures, dividends, technology and practice-management services, investment solutions, and advisor support programs such as its military deployment practice continuation framework.
LPL Financial announced that financial advisors Justin Gore and Michael Fusco have joined their broker-dealer, RIA, and custodial platforms to create Integrity Financial Group. The new practice, which manages approximately $475 million in assets, aims to provide customized financial planning and wealth management services. Gore and Fusco, who hail from Ameriprise, bring 26 and 12 years of experience, respectively. The rebranding follows the retirement of senior partner Hugh Martin. LPL Financial's platform was chosen for its flexibility and client-first approach, aligning with Integrity Financial Group's guiding principles.
LPL Financial has released its 2024 Midyear Outlook titled 'Still Waiting for the Turn.' The report highlights continued economic growth in the U.S., exceeding expectations despite high inflation and late-cycle pressures. However, a potential slowdown is anticipated, with consumer spending expected to decelerate and labor market conditions projected to soften by year-end.
Geopolitical tensions, especially between the U.S. and China, and the upcoming U.S. presidential election are expected to increase market volatility. Key investment insights include the attractiveness of fixed income assets due to high Treasury yields and a cautious approach to equities owing to elevated valuations and potential volatility.
Chief Economist Jeffrey Roach noted the remarkable resilience of the U.S. economy, while Chief Investment Officer Marc Zabicki emphasized the importance of understanding market drivers to adapt investment strategies.
LPL Financial has welcomed father-daughter advisors Dan and Olivia Countiss, who have launched Countiss Wealth Management. The new independent practice will leverage LPL's broker-dealer, RIA, and custodial platforms. Together, they manage approximately $200 million in advisory, brokerage, and retirement plan assets. Dan, a U.S. Army veteran, and Olivia, a financial advisor since 2019, bring nearly 25 years of combined experience. The move aims to enhance client services with improved financial planning, greater investment flexibility, and advanced technology. Joining them are Investment Analyst Chandler Duke and Client Services Associate Christy Walker.
LPL Financial Holdings announced it will release its second quarter 2024 financial results on July 25, 2024, after market close. A conference call to discuss the results is scheduled for 5 p.m. ET on the same day. This call will be accessible for replay at investor.lpl.com/events.
LPL Financial, a leader in the financial advisory market, serves nearly 23,000 advisors, including those at approximately 1,100 institutions and 570 registered investment advisor firms nationwide. The company emphasizes independence, allowing advisors to select the business models, services, and technology resources that best suit their needs.
LPL Financial announced that seasoned advisor Jim Zack and his daughter Amanda Zack have joined LPL's employee advisor channel, Linsco by LPL Financial, to establish The Zack Wealth Group. They previously served approximately $290 million in advisory, brokerage, and retirement plan assets at Morgan Stanley. The Zacks are based in Washington, D.C. Jim Zack, who has been fascinated by the stock market since his youth, emphasized their service-oriented, client-centered approach.
Amanda Zack joined her father's practice eight years ago, and they decided to move to Linsco for more flexibility and independence. Linsco provides advisors with access to LPL's integrated wealth management platform and various business resources, along with support from experienced branch management, marketing consultants, technology consultants, and service teams. Jim Zack noted the ease and freedom of running their practice at LPL, which aligns with their family-focused approach.
LPL's Executive Vice President, Scott Posner, welcomed the Zacks and highlighted LPL's commitment to providing advisors the flexibility and support needed to differentiate themselves and enhance the client experience. LPL Financial serves nearly 23,000 financial advisors and emphasizes the importance of independence and personalized client guidance.
LPL Financial announced that First Summit Capital Management has joined their broker-dealer, RIA, and custodial platforms. First Summit, led by Thomas J. Cooney and Mark Freed, manages approximately $380 million in assets. The move aligns them with Momentum Wealth Partners, an LPL-affiliated firm. Cooney and Freed bring extensive experience in financial services and wealth management. They aim to leverage LPL Financial's capabilities to provide personalized investment strategies and comprehensive financial planning. LPL's open architecture platform and robust business solutions were significant factors in their decision to join.
LPL Financial announced that financial advisor Danielle Qualls has joined their broker-dealer, RIA, and custodial platforms, teaming up with Bergkamp Financial. Qualls, who has managed approximately $160 million in advisory, brokerage, and retirement plan assets, previously worked with Stifel, Nicolaus, and Co. She brings expertise in multigenerational financial strategies and aims to enhance services and collaboration with the Bergkamp team. Bergkamp Financial, led by Amy McKinley and Lori Zern, has been with LPL since 2021 and appreciates LPL's robust research capabilities and open architecture platform. The addition of Qualls is seen as a strategic move to grow and expand their service offerings. LPL Financial serves nearly 23,000 advisors, emphasizing independence and personalized client relationships.
LPL Financial Holdings Inc. (Nasdaq: LPLA) reported its monthly activity for May 2024. Total advisory and brokerage assets reached $1.46 trillion, a 3.6% increase from April 2024. Net new assets for May were $11.2 billion, reflecting a 9.5% annualized growth rate. Net new advisory assets were $9.9 billion, translating to an impressive 15.3% annualized growth rate. However, total client cash balances fell by $1.2 billion to $44.5 billion. Notably, net buying activity hit a record $15 billion for the month. The report also highlighted significant market drivers, including a 4.8% rise in the S&P 500 Index and a 4.9% rise in the Russell 2000 Index.
LPL Financial announced that financial advisor W. Scott Hengerer, CMFC™, CRPC, has joined their platforms to launch James River Private Wealth. Hengerer, previously with Ameriprise, manages approximately $160 million in assets and brings 26 years of wealth management experience. His team includes Martha Kerr, Devin Burton, and Breann Dooley. James River Private Wealth, named after Virginia's James River, emphasizes bespoke, client-focused financial advice. Hengerer praises LPL's commitment to independence and its advanced technology and resources. LPL's EVP, Scott Posner, welcomes the new firm, emphasizing LPL’s support in helping their business thrive.
LPL Financial announced that financial advisor Tom Russell and his sons, Brian and Charles, have joined LPL’s Linsco division to launch Russell Wealth Partners. The team, previously with Merrill Lynch, manages approximately $250 million in assets. They chose LPL for its advanced technology, autonomy, and support, allowing them to focus on personalized client services. LPL’s Executive VP Scott Posner highlighted the firm’s commitment to supporting advisors with comprehensive business solutions and innovative technology.