Lpl Financial Stock Price, News & Analysis

LPL Financial (Nasdaq: LPLA) announced that financial advisor Kemp Cunningham has joined its platforms, bringing approximately $125 million in advisory and brokerage assets from Edward Jones. Cunningham, who has extensive experience in financial services, launched his own practice, Emerald River Wealth Management. He aims to provide clients with robust financial planning tools and a collaborative environment by incorporating CPA and estate attorney services in his new office. LPL expresses commitment to supporting advisors like Cunningham in delivering top-notch client experiences.

LPL Financial announced that SC Financial Group has joined its broker-dealer and RIA platforms, bringing approximately $220 million in assets. Founded in 2008 by Shane Cloninger and Susan Carter, the Bellevue, Wash.-based practice focuses on retirement income strategies and offers personalized financial planning. The transition to LPL was motivated by the firm's reputation and integrated capabilities, aiming for improved client services. Executive VP Scott Posner emphasized LPL's commitment to supporting advisors in delivering exceptional client experiences.

On March 23, 2023, LPL Financial (Nasdaq: LPLA) reported its monthly activity for February 2023, revealing total advisory and brokerage assets of $1.15 trillion, down $17.1 billion (1.5%) from January. The firm secured net new assets of $5.2 billion, reflecting a 5.4% annualized growth rate. February's client cash balances totaled $56.2 billion, down $3.5 billion from January, while net buying reached a record high of $12.4 billion. As of March 22, cash balances saw slight declines, yet net buying activity remained strong.

LPL Financial has welcomed financial advisor Joaquin Lopez and his firm, Lopez Wealth Management, to its platforms. Lopez, who manages approximately $130 million in assets, transitioned from Lincoln Investment Planning. A veteran and seasoned financial expert, he aims to leverage LPL's enhanced technology and support to improve client services, particularly in retirement planning. Lopez highlighted the benefits of LPL's mobile app and lower-cost fee-based platforms for his diverse clientele. LPL's commitment to advisor-centric strategies positions them as a leading independent broker-dealer, catering to over 21,000 advisors.

LPL Financial announced the acquisition of Money Matters, a financial consulting firm managing approximately $250 million in assets. Founded by Ron Clark, Money Matters operates from Tampa, Fla., and Gadsen, Ala., and has a client-centric approach that has catered to families, businesses, and charities for over 17 years. The firm sought LPL for enhanced technology and resources to better serve its clients. LPL's integrated systems will allow the Money Matters team to focus more on client service and research. The transition underscores LPL's commitment to offering advisors the tools needed for client success.

LPL Financial (Nasdaq: LPLA) announced on March 15, 2023, that financial advisors Lucas Mijares and Jesse Ettlin have launched Zion Capital Wealth Management, joining LPL's broker-dealer, RIA, and custodial platforms. Zion Capital, based in Grass Valley, California, manages $185 million in advisory and retirement plan assets. The firm emphasizes personalized, holistic financial planning. Mijares and Ettlin chose LPL and Mariner Advisor Network for their technology and resources, enabling them to focus on client relationships. LPL executives expressed enthusiasm for the partnership, highlighting their commitment to supporting independent advisors.

LPL Financial announced the launch of an independent practice by financial advisor Nick Lalonde, who brings approximately $200 million in advisory and brokerage assets. Lalonde joins LPL from Edward Jones, aiming to enhance client service through increased flexibility and innovative solutions. He has named his practice Third Act Wealth Management, focusing on helping clients find identity and purpose in their financial journeys. The team plans to expand by adding junior advisors. LPL's mission supports this independence by providing robust resources for advisors.

LPL Financial Foundation, in collaboration with LISC San Diego, Vista Chamber of Commerce, and the University of San Diego, has made significant strides in reviving local farmers' markets in San Diego County. Funded by grants awarded in 2021 and 2022, the initiative aimed to empower small businesses in underserved communities. With support and technical assistance, these markets have successfully resumed operations, attracting new vendors and generating interest. This effort is part of LPL's commitment to enhancing the economic well-being of communities they serve, promoting cultural offerings that reflect local residents.