Lpl Financial Stock Price, News & Analysis

LPL Financial (Nasdaq: LPLA) announced that its Model Wealth Portfolios (MWP) advisory platform received the Wealth Management Platform of the Year award from the Money Management Institute and Barron’s. This recognition highlights LPL's commitment to innovation and improved outcomes for investors and advisors.

The MWP program, offering mutual funds, ETFs, and separately managed accounts, has seen significant growth in usage. Recent enhancements include new scalable SMAs and improved user interface, based on advisor feedback, aimed at delivering tailored solutions for clients.

LPL Financial announced that Barney Financial Services has joined its platforms, serving approximately $200 million in advisory, brokerage, and retirement assets. Founded in 1997 by Ronald Eckloff, Barney Financial aims to enhance client service through innovative technology and increased support after rejoining JFC Advisor Network. The team prioritizes proactive financial planning for retirees. LPL welcomes the team, citing the value of its resources and commitment to advisor independence as key benefits for their clients.

LPL Financial Holdings reported a strong Q3 2022, with net income of $232 million and diluted EPS of $2.86, marking a 127% increase year-over-year. Gross profit rose by 33% to $838 million, while EBITDA soared 84% to $414 million. Despite a 8% decline in total advisory and brokerage assets to $1.04 trillion, organic net new assets grew by $20 billion annually. The company expanded its share repurchase program, increasing authorization by $2 billion starting in 2023, and declared a $0.25 dividend per share.

LPL Financial announces that Chris Albright, a financial advisor from Astra Wealth Advisors, has joined its broker-dealer and RIA platforms. Albright brings approximately $192 million in advisory, brokerage, and retirement assets. His move aims to enhance client services alongside advisor Kimberly Santarsiero. The partnership is driven by LPL's technological investments, which Albright views as crucial for competitive advantage in the industry. With nearly 30 years of experience, Albright's focus remains on comprehensive financial planning for high-net-worth clients.

LPL Financial announces that financial advisor Chip Marcus has joined its employee advisor channel, Linsco by LPL Financial. Marcus, with over 22 years of experience and approximately $230 million in advisory assets, aims to grow his business by establishing Chip Marcus Wealth Management Powered by LPL Financial. He appreciates Linsco's flexibility, enabling him to focus on client needs while benefiting from extensive support including marketing and technology resources. This strategic move is expected to enhance his client service capabilities and overall business growth.

LPL Financial has announced the launch of a new independent practice, The Albany Group, by financial advisors Beau Jones, Chris Story, Taylor Roberts, and Joseph Montgomery. They bring approximately $375 million in advisory, brokerage, and retirement assets from Raymond James and Associates. The Albany Group aims to provide holistic investment advice, emphasizing core values like reliability and community. The advisors chose LPL for its blend of autonomy and resources, benefiting from its Strategic Wealth Services model, which offers comprehensive support for business growth.

LPL Financial Holdings Inc. (Nasdaq: LPLA) announced it will release its third quarter financial results on October 27 after market close. A conference call to discuss these results is scheduled for 5 p.m. ET the same day. Investors can access the call through the company’s investor relations website, with a replay available until November 17.

LPL Financial supports nearly 21,000 financial advisors across various platforms, reinforcing its commitment to an advisor-centered model, while maintaining its position as a leading independent broker-dealer in the U.S.

LPL Financial has welcomed Alexander "Alex" Guiliano, CFA, who has launched his independent practice, Resonate Wealth Partners, through LPL's Strategic Wealth Services. Guiliano, who has serviced approximately $1 billion in advisory assets, aims to provide tailored financial solutions for multi-generational families. The approach focuses on personal relationships and client-centric strategies. LPL offers extensive support, allowing advisors to prioritize their clients while benefiting from comprehensive resources to enhance their business operations.

LPL Financial announces that Bodnar Financial Advisors has joined its broker-dealer and custodial platforms, managing approximately $300 million in assets. Founded in 1988, Bodnar Financial emphasizes fiduciary principles, focusing on personalized financial strategies. The team, led by John Bodnar, values client relationships and plans to utilize LPL’s independence and tools to enhance their services. Scott Posner from LPL welcomed the new advisors, emphasizing LPL’s commitment to empowering financial advisors and enhancing client connections.