Welcome to our dedicated page for Lpl Financial news (Ticker: LPLA), a resource for investors and traders seeking the latest updates and insights on Lpl Financial stock.
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 has announced the addition of Kris Staples and Trevor Johnson from Staples Financial to its broker-dealer and RIA platforms, managing approximately $150 million in assets. The duo, who transitioned from First Allied Securities, cited LPL's advanced technology and potential fee reductions for clients as key factors in their decision. LPL aims to support them and invest in resources for sustainable growth amidst uncertain market conditions.
LPL Financial has welcomed financial advisors Matt Meyers Sr. and Matthew Meyers Jr. from Crossroads Financial Services to its platforms, managing approximately $300 million in assets. The team, which specializes in financial planning for educators in Texas, aims to enhance their services by leveraging LPL's technology and support from The Financial Services Network. Matt Meyers Sr. brings over 35 years of experience, while his son joined the practice in 2012. This partnership is expected to elevate the client experience and facilitate future growth.
LPL Financial announced the addition of Glenn Drake and John Kinzer, both CFPs, along with Operations Manager Rachel Waltjen, to its broker-dealer and RIA platforms. CenterPoint Wealth Advisors, managed by Drake and Kinzer, serves approximately $225 million in assets and aims to enhance client services through LPL's technology and independent advisory model. The team, with over 60 years of combined experience, focuses on affluent families and small business owners, emphasizing proactive financial management.
LPL Financial Holdings Inc. (Nasdaq: LPLA) announced it will release its second quarter financial results on July 30, 2020, post-market close. The Company will hold a conference call at 5 p.m. ET to discuss the results, accessible via phone or webcast on their Investor Relations website. A replay of the call will be available until August 20. LPL Financial is a leading firm in the retail financial advice market, serving independent advisors and institutions with essential services for wealth management and retirement planning.
LPL Financial has announced that Ridgeline Wealth Management has joined its broker-dealer and RIA custodial platforms, bringing approximately $210 million in brokerage and advisory assets.
Founded in 2011, Ridgeline Wealth Management emphasizes a risk-based approach to asset allocation and client communication. The team's transition to LPL aims for improved fee transparency and access to advanced technology. LPL's managing director noted the advantages of size and resources without losing personalized service for advisors, enhancing support for their operations.
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.