Lpl Financial Stock Price, News & Analysis

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.

LPL Financial (Nasdaq: LPLA) announced key management changes, effective May 2, 2022. Kabir Sethi will join as Chief Product Officer, focusing on tech advancements and wealth management solutions. Meanwhile, Matt Enyedi transitions to oversee National Sales and Marketing, enhancing LPL's advisor relationships. Both will report to President and CEO Dan Arnold, who emphasized the importance of strong leadership in driving growth and innovation. Sethi's experience at Merrill Lynch and Enyedi's long tenure at LPL position the firm for future success in the advisor-centric market.

LPL Financial (Nasdaq: LPLA) has welcomed financial advisor Robert Mitchell, who brings approximately $425 million in advisory assets, to its Linsco by LPL Financial employee advisor model. This move aims to enhance service quality for Mitchell's growing client base. Mitchell, supported by a skilled team, values LPL's commitment to comprehensive resources and personalized client attention. LPL's new Greensboro office will serve as the site for Mitchell's team, promising innovative tools and a tailored approach to client financial management.

LPL Financial (Nasdaq: LPLA) announced the launch of Platte River Private Wealth, an independent practice by advisors Chad Keeler and Brock Rouch. The team serves approximately $380 million in advisory and brokerage assets and transitioned from Morgan Stanley to leverage LPL’s robust support and resources. Based in Casper, Wyoming, they focus on high-net-worth retirees and aim to enhance client experiences through personalized financial planning. LPL's Strategic Wealth Services provides ongoing support to facilitate their independent journey.

LPL Financial has launched Paraplanning Services to assist advisors, RIAs, and institutions in delivering financial planning services. This initiative aims to enhance client relationships by providing experienced support. Currently, about 150,000 advisors offer financial planning, with an estimated 20,000 more expected to join in the next three years. Paraplanners will work closely with advisors to create comprehensive financial plans using various planning software. This service marks the start of several new offerings from LPL aimed at expanding advisory services.

LPL Financial announced the addition of Theresa M. Hannon CPA and Kevin Hannon CFP to its platform, joining from American Portfolios Financial Services. The Hannon team manages approximately $175 million in advisory and brokerage assets. By partnering with Professional Wealth Advisors, they aim to enhance client service through improved technology and support. This move aligns with their client-centric values, promising elevated customer service and operational support. LPL continues to strengthen its network, focusing on providing personalized financial guidance.