Lpl Financial Stock Price, News & Analysis

LPL Financial has welcomed financial advisor Corinne Koehler, who brings approximately $120 million in brokerage and advisory assets. Previously with Wells Fargo Financial Advisors Network, Koehler aims to leverage LPL's innovative technology and services to enhance her independent practice, Koehler Wealth Management. She emphasizes financial education and community involvement, holding various leadership roles locally. LPL's extensive resources and favorable fee structure are expected to benefit both Koehler and her clients, fostering continued growth and value creation.

LPL Financial reported a strong monthly activity report for May 2020, showing total brokerage and advisory assets at approximately $745.9 billion, a 3.9% increase from April. May's net new assets reached $4.2 billion, with a 7.0% annualized growth rate. Notably, net new advisory assets totaled $3.1 billion, translating to a 10.7% annualized growth rate. However, client cash balances fell to $46.2 billion, down by $0.8 billion compared to the previous month.

LPL Financial announced the affiliation of Summit Street Wealth Management with its Institution Services platform, enhancing client experience for approximately $200 million in assets previously managed under MML Investors Services.

Located in Wisconsin, the firm comprises a six-person team dedicated to personalized financial strategies. The decision to join LPL aims to improve operational independence and support for clients, with positive feedback reported regarding LPL’s technology platform. LPL’s commitment to providing comprehensive support and cutting-edge technology is highlighted by management's statement on the onboarding.

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LPL Financial has launched the Assurance Plan, designed to protect the business value of independent financial advisors during unplanned exits due to death or permanent disability. This new solution guarantees a minimum purchase price based on recurring revenue multiple and facilitates commission-free sale of the advisor’s business to another qualified LPL advisor. The Assurance Plan addresses a significant gap in the advisory industry, where many advisors lack succession plans, ensuring their clients and families are protected against financial disruption.

LPL Financial announced the addition of financial advisor Lance Pelky, who manages approximately $115 million in assets, to its platforms. Pelky left Voya Financial Advisors to enhance client service through LPL's resources and technology. He emphasized the growing need for innovation in financial services, especially in light of the COVID-19 pandemic. LPL aims to support advisors in navigating rapid changes in the financial landscape, with a commitment to providing advanced resources and capabilities.

LPL Financial announces the addition of Broadway Graham Wealth Partners and its three advisors, who bring approximately $370 million in brokerage and advisory assets. The team, led by Shane Adkins, Zach Bromley, and Jay Cole, has joined LPL's broker-dealer and hybrid RIA platforms for more independence and control over their business. The advisors are committed to providing a client-first culture and leveraging innovative technology to enhance client experiences. This move aligns them with the rapidly growing Private Advisor Group, enhancing their operational capabilities.

LPL Financial announced that 10 of its program managers have been named on the 2020 Top 30 Program Managers list by Bank Investment Consultant (BIC). This recognition is based on criteria such as advisor oversight, team assets under management, and production growth. Notable managers include Karen Benedict, John Beard, and Rebecca Robinson. LPL Financial continues to support these leaders in providing comprehensive investment services across more than 800 financial institutions nationwide.

LPL Financial has welcomed Invex Financial, led by Susan Lawrence, which brings approximately $120 million in brokerage and advisory assets to LPL's platforms. This move allows Invex Financial greater independence, enabling them to provide more tailored wealth management services to high-net-worth clients. Lawrence expressed that the affiliation offers opportunities for business development and enhanced collaboration with other independent advisors. LPL Financial continues to support its advisors with robust wealth management tools and resources.