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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 Holdings Inc. (Nasdaq: LPLA) announced it will report its fourth quarter financial results on February 2, after market close. The Company will host a conference call at 5 p.m. ET to discuss the results, accessible via their investor relations website. A replay will be available until February 23. LPL Financial serves over 21,000 financial advisors and is recognized as a leader in the investment market, providing personalized guidance and a commitment to an advisor-centered model.
LPL Financial LLC has welcomed financial advisors Eric Fenton and Rodney Wangler to its platforms, having previously managed approximately $300 million in advisory, brokerage, and retirement plan assets. The duo, founders of Fenton Wangler Financial, cited LPL's financial strength and technology as key reasons for their move. They plan to enhance client services through LPL's innovative systems, which facilitate efficient business operations. JFC Advisor Network expressed enthusiasm about the partnership, emphasizing the advisors' commitment to quality service and the potential for success with LPL’s resources.
LPL Financial Holdings, Inc. (NASDAQ: LPLA) has appointed Albert “Al” Ko as an independent director to its board. Ko brings over 20 years of leadership experience in financial services, previously serving as CEO of Early Warning Services and holding senior positions at Intuit. His expertise includes risk management, strategic planning, and consumer insights, enhancing LPL's focus on advisor needs. This addition is expected to bolster LPL's mission to support financial professionals in improving Americans' financial futures.
LPL Financial (Nasdaq: LPLA) announced that financial advisor David J. Dobrusin joined its platforms, managing approximately $200 million in advisory and retirement plan assets. Previously with Cambridge Investment Research, Dobrusin is a CPA and CFP®, focusing on tax-efficient investment strategies. He emphasized the importance of maintaining independence while utilizing LPL's resources for optimal client services. Scott Posner, LPL's EVP, welcomed Dobrusin, stating that advisors need robust resources to enhance client experiences and grow their businesses.
LPL Financial has welcomed Matt B. Irwin to its broker-dealer, RIA, and custodial platforms. With approximately $160 million in advisory and brokerage assets, Irwin joins from Ameriprise, celebrating 25 years in the industry. He emphasizes LPL's independent platform, which enhances investment choices and client service flexibility. Irwin's move comes after evaluating several firms, seeking better resources and support for his solo practice. LPL aims to provide advisors with innovative capabilities and robust resources to improve client experiences.
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LPL Financial has welcomed Strategic Partners, Inc. to its broker-dealer and custodial platforms, expanding its advisory capabilities. The Strategic team, with approximately $830 million in advisory assets and an additional $600 million in fixed life insurance and annuities, previously operated under Royal Alliance. Strategic Partners, led by Chris Lubbers, specializes in comprehensive financial planning and aims to leverage LPL's advanced technology for improved operational efficiency and client services. The partnership with National Financial Alliance was also seen as a substantial opportunity for growth.
LPL Financial (Nasdaq: LPLA) reported a total of $1.14 trillion in advisory and brokerage assets for November 2022, marking a 4.5% increase from October. The company added $5.6 billion in net new assets during the month, with advisory assets growing by 7.6% annually. However, client cash balances fell by 4.1% to $62.5 billion. Notably, net buying activity reached $9.4 billion, a significant increase from previous months. These metrics highlight a solid growth trajectory in terms of assets despite a decline in cash balances.
LPL Financial (Nasdaq: LPLA) has appointed Garrett Fish as Senior Vice President and head of Model Portfolio Management. With over 25 years of international portfolio management experience, he will lead the firm’s investment model portfolio function and serve on the Strategic & Tactical Asset Allocation Committee. Previously, Fish spent nearly two decades at J.P. Morgan Asset Management, managing various investment vehicles. His expertise will enhance LPL’s investment strategies, benefiting financial advisors and their clients.
LPL Financial announced the addition of financial advisors David Rimkus, Donald Sharko, and Thomas Phelan, who together manage approximately $285 million in assets. They have transitioned from LaSalle St. Securities to LPL’s platforms and have rebranded their firm as Harbor Lighthouse Wealth Management. The team aims to enhance client communication and support multigenerational wealth management. LPL provides extensive resources to ensure business continuity and cater to the needs of clients' descendants.