Lpl Financial Stock Price, News & Analysis

On February 17, 2021, LPL Financial (LPLA) announced the return of Foran Financial Group, which has approximately $350 million in advisory and brokerage assets. The advisors, who previously worked with Raymond James Financial, sought the flexibility and resources LPL provides, including advanced technology and a wide range of products. The team, led by Dan Foran, focuses on family values and financial education, offering comprehensive wealth and retirement planning services. LPL's commitment to advisor-centric business models played a significant role in the team's decision to return.

LPL Financial has introduced a modernized brand identity, showcasing its commitment to financial advisors. The initiative reflects a renewed culture and innovative approach to partnerships, emphasizing that 'Your greatness is our goal.' With a focus on collaboration, freedom of choice, and advisor potential, the new branding aims to build a stronger future for financial advice. Since its inception in 1989, LPL has prioritized advisor needs, ensuring they have the independence to select business models and client services tailored to their practices.

LPL Financial has announced that Managing Director Scott Seese will take a personal leave to care for his mother who is undergoing treatment for an advanced illness. In Seese's absence, Greg Gates, Executive Vice President, will serve as interim chief information officer. Gates, who joined LPL in 2018, brings extensive experience in technology strategy from his previous roles at PayPal and Bank of America. LPL Financial is a prominent independent broker-dealer and custodian, providing services that support independent financial advisors and institutions.

LPL Financial, a leading retail investment advisory firm, has reported a modest increase in total advisory and brokerage assets, reaching approximately $907 billion at the end of January 2021, up 0.4% from December 2020. The firm saw net new assets inflow of $3.6 billion, indicating a 4.8% annualized growth rate. Notably, total net new advisory assets increased by $4.2 billion, translating to a 10.9% annualized growth, while client cash balances slightly decreased to $48.8 billion.

LPL Financial has introduced its new M&A Solutions, designed to facilitate mergers and acquisitions for financial advisors. This suite aims to provide comprehensive support throughout the M&A process, enhancing efficiency and value for both buyers and sellers. The program offers personalized assistance, a digital platform for deal management, and access to LPL’s professionals. The initiative underscores LPL's commitment to aiding independent advisors in achieving their growth and monetization goals in the M&A marketplace.

LPL Financial (NASDAQ: LPLA) announced that financial advisor Darrell Todd has joined its platform, bringing approximately $110 million in assets under management. Todd, with over 30 years of experience, previously founded Southlake Financial Services and chose LPL for its efficient operations and strong custodial services. Joining him is Kinsey Chadick, a registered sales assistant. The partnership aims to enhance client services and capitalize on LPL's extensive research capabilities. LPL Financial continues to attract quality advisors, bolstering its position in the retail investment advisory market.

LPL Financial Holdings reported strong fourth quarter 2020 results with net income of $112 million ($1.38 per share), though slightly down from $127 million in the same period last year. Total advisory and brokerage assets rose 18% year-over-year to $903 billion, with organic net new assets inflow of $17.8 billion, equivalent to 8.8% annualized growth. The company declared a $0.25 per share dividend and announced plans to acquire Waddell & Reed’s wealth management business for $300 million. Core G&A remains within outlook at $925 million.

LPL Financial has welcomed financial advisor Tiger Blackwell to its new independent employee advisor model. Blackwell, with approximately $100 million in client assets, joined from Stifel, Nicolaus & Company. This model allows advisors to maintain ownership of their client relationships while receiving full operational support from LPL. Blackwell aims to focus entirely on client service and financial planning without the burdens of overhead management. LPL’s employee advisors benefit from a competitive payout structure and various resources to enhance their practice.