Lpl Financial Stock Price, News & Analysis

LPL Financial LLC reported a significant decrease in total advisory and brokerage assets, dropping to approximately $1.10 trillion at April's end, a decline of $67 billion or 5.8% from March 2022. However, total net new assets for April were $1.9 billion, reflecting a 2.0% annualized growth rate. The company also saw total net new advisory assets reach $2.2 billion with a 4.2% annualized growth rate. Client cash balances remained stable at $61.8 billion, while April net buying activity was $3.1 billion.

LPL Financial announced that financial advisor Randall Pickett and wealth associate Leslie Stephenson have joined Linsco by LPL Financial. Located in Dallas, their team, known as The Pickett Group, manages approximately $180 million in advisory assets. With nearly 35 years of experience, Pickett aims to provide personalized financial consulting. Linsco offers advisors autonomy, digital services, and marketing support. Pickett expressed excitement about leveraging LPL’s integrated platform to enhance client experiences and grow their business.

LPL Financial announced the launch of Carmack Capital Management by financial advisor Peter Carmack, who brings approximately $510 million in advisory, brokerage, and retirement assets. Transitioning from Wells Fargo Advisors, Carmack aims to offer tailored financial strategies for clients. He emphasized the importance of personalized service in today’s evolving financial landscape. LPL’s support through innovative technology is intended to enhance Carmack's ability to meet client needs and provide high-quality care.

LPL Financial announced that financial advisor Nick Bevad has joined the firm in association with Claritas Financial Partners. Bevad, who previously managed approximately $135 million in assets at Merrill Lynch, brings 16 years of experience in the financial sector. He emphasizes personalized client strategies and has a focus on community service. LPL's Strategic Wealth Services offers resources that allow advisors to enhance their practice and client services. The partnership aims to expand Bevad's reach in New Jersey and Long Island.

LPL Financial LLC (Nasdaq: LPLA) announced the appointment of Brett Goodman as executive vice president of Corporate Development and Investor Relations. Goodman will oversee M&A strategies and enhance shareholder engagement, reporting to CFO Matt Audette. Previously a managing director at Morgan Stanley, Goodman has a proven track record in wealth management and corporate development. He expressed enthusiasm about joining LPL, citing the firm's strong growth and commitment to financial advisors.

LPL Financial Holdings (LPLA) reported a net income of $134 million for Q1 2022, reflecting a 3% increase year-over-year, leading to a diluted EPS of $1.64. Key highlights include a 15% rise in gross profit to $669 million and a substantial 21% growth in total advisory and brokerage assets to $1.16 trillion. Advisory assets grew by 26% to $624 billion. The company is focusing on onboarding new partnerships and enhancing its services for advisors.

LPL Financial (Nasdaq:LPLA) announced that M&T Bank has successfully closed its merger with People's United Bank as of April 1, 2022. M&T plans to onboard People’s United’s retail advisory and brokerage business to LPL’s platform in the latter half of 2022. This business involves approximately 30 financial advisors managing around $6 billion in advisory assets. M&T Bank aims to leverage LPL’s technology and digital capabilities to enhance profitability and client service. LPL is committed to supporting M&T’s expansion through its integrated platform.

LPL Financial (Nasdaq:LPLA) has welcomed financial advisor Michael Gavett to its platform, launching Bespoke Private Wealth in Dallas. Gavett, previously at B. Riley Wealth Management, manages approximately $265 million in advisory assets. With nearly 25 years in finance, he emphasizes personalized client service and strategic financial planning. The new Linsco office will allow for future advisor expansions, supported by LPL's comprehensive resources and innovative technology. Executive Scott Posner highlighted LPL's commitment to empowering advisors with the tools needed for success.