LPL Financial Reports Monthly Activity for April 2024
May 23 2024 - 4:05PM
LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of
LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today
released its monthly activity report for April 2024.
Total advisory and brokerage assets at the end of
April were $1.41 trillion, a decrease of $27.9 billion, or
1.9%, compared to the end of March 2024.
Total net new assets for April were
$12.0 billion, which included $5.0 billion of acquired
net new assets resulting from the acquisition of Crown Capital.
Total organic net new assets for April were
$7.0 billion, translating to a 5.8% annualized growth rate.
Total organic net new advisory assets were $7.4 billion,
translating to a 11.2% annualized growth rate.
Total client cash balances at the end of April were
$45.7 billion, a decrease of $0.6 billion compared to the end
of March 2024. Net buying in April was $12.3 billion.
(End of period $ in billions, unless noted) |
April |
|
March |
Change |
|
April |
Change |
|
2024 |
|
2024 |
M/M |
|
2023 |
Y/Y |
|
Advisory and Brokerage
Assets |
|
|
|
|
|
Advisory assets |
775.5 |
|
793.0 |
(2.2 |
%) |
628.2 |
23.4 |
% |
Brokerage assets |
637.5 |
|
647.9 |
(1.6 |
%) |
559.5 |
13.9 |
% |
Total Advisory and
Brokerage Assets |
1,413.0 |
|
1,440.9 |
(1.9 |
%) |
1,187.7 |
19.0 |
% |
|
|
|
|
|
|
Total Net New
Assets |
|
|
|
|
|
Net new advisory assets |
7.6 |
|
7.5 |
n/m |
3.4 |
n/m |
Net new brokerage assets |
4.3 |
|
0.4 |
n/m |
1.0 |
n/m |
Total Net New
Assets |
12.0 |
|
7.9 |
n/m |
4.4 |
n/m |
|
|
|
|
|
|
Organic Net New
Assets |
|
|
|
|
|
Net new organic advisory
assets |
7.4 |
|
7.5 |
n/m |
3.4 |
n/m |
Net new organic brokerage
assets |
(0.4 |
) |
0.4 |
n/m |
1.0 |
n/m |
Total Organic Net New
Assets |
7.0 |
|
7.9 |
n/m |
4.4 |
n/m |
|
|
|
|
|
|
Net brokerage to advisory
conversions |
1.2 |
|
1.3 |
n/m |
0.6 |
n/m |
|
|
|
|
|
|
Client Cash
Balances |
|
|
|
|
|
Insured cash account
sweep |
32.5 |
|
32.6 |
(0.3 |
%) |
37.0 |
(12.2 |
%) |
Deposit cash account
sweep |
9.1 |
|
9.2 |
(1.1 |
%) |
9.5 |
(4.2 |
%) |
Total Bank Sweep |
41.6 |
|
41.8 |
(0.5 |
%) |
46.5 |
(10.5 |
%) |
Money market sweep |
2.3 |
|
2.4 |
(4.2 |
%) |
2.5 |
(8.0 |
%) |
Total Client Cash Sweep Held by Third Parties |
43.8 |
|
44.2 |
(0.9 |
%) |
49.0 |
(10.6 |
%) |
Client cash account(1) |
1.9 |
|
2.1 |
(9.5 |
%) |
1.5 |
26.7 |
% |
Total Client Cash
Balances |
45.7 |
|
46.3 |
(1.3 |
%) |
50.4 |
(9.3 |
%) |
|
|
|
|
|
|
Net buy (sell) activity |
12.3 |
|
12.9 |
n/m |
11.1 |
n/m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market
Drivers |
|
|
|
|
|
S&P 500 Index (end of
period) |
5,036 |
|
5,254 |
(4.1 |
%) |
4,169 |
20.8 |
% |
Russell 2000 Index (end of
period) |
1,974 |
|
2,125 |
(7.1 |
%) |
1,769 |
11.6 |
% |
Fed Funds daily effective rate
(average bps) |
533 |
|
533 |
— |
% |
483 |
10.4 |
% |
|
|
|
|
|
|
____________________Note: Totals may not foot due
to rounding.(1) During the first quarter of 2024, the Company
updated its definition of client cash account balances to exclude
other client payables. Prior period disclosures have been updated
to reflect this change as applicable.
For additional information regarding these and
other LPL Financial business metrics, please refer to the Company’s
most recent earnings announcement, which is available in the
quarterly results section of investor.lpl.com.
Contacts
Investor
Relationsinvestor.relations@lplfinancial.com
Media Relationsmedia.relations@lplfinancial.com
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was
founded on the principle that the firm should work for advisors and
institutions, and not the other way around. Today, LPL is a leader
in the markets we serve, serving nearly 23,000 financial advisors,
including advisors at approximately 1,100 institutions and at
approximately 570 registered investment advisor (“RIA”) firms
nationwide. We are steadfast in our commitment to the
advisor-mediated model and the belief that Americans deserve access
to personalized guidance from a financial professional. At LPL,
independence means that advisors and institution leaders have the
freedom they deserve to choose the business model, services and
technology resources that allow them to run a thriving business.
They have the flexibility to do business their way. And they have
the freedom to manage their client relationships because they know
their clients best. Simply put, we take care of our advisors and
institutions, so they can take care of their clients.
Securities and Advisory services offered through
LPL Financial LLC (“LPL Financial”), a registered investment
advisor. Member FINRA/SIPC. LPL Financial and its affiliated
companies provide financial services only from the United
States.
Throughout this communication, the terms “financial
advisors” and “advisors” are used to refer to registered
representatives and/or investment advisor representatives
affiliated with LPL Financial.
We routinely disclose information that may be
important to shareholders in the “Investor Relations” or “Press
Releases” section of our website.
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