LPLA LPL Financial Holdings Inc

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 August 2024.

Total advisory and brokerage assets at the end of August were $1.56 trillion, an increase of $30.8 billion, or 2.0%, compared to the end of July 2024.

Total net new assets for August were $6.8 billion, which included $0.3 billion of acquired net new assets resulting from Liquidity & Succession activity.

Total organic net new assets for August were $6.6 billion, translating to a 5.2% annualized growth rate. This included $3.8 billion of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Excluding these assets, organic net new assets were $10.4 billion, translating to a 8.1% annualized growth rate.

Total organic net new advisory assets were $5.4 billion, translating to a 7.7% annualized growth rate. Excluding the off-boarded assets from misaligned large OSJs, total organic net new advisory assets were $9.1 billion, translating to a 12.8% annualized growth rate.

Total client cash balances at the end of August were $43.3 billion, a decrease of $0.7 billion compared to the end of July 2024. Net buying in August was $12.6 billion.

(End of period $ in billions, unless noted)	August	July	Change		August	Change
	2024	2024	M/M		2023	Y/Y
Advisory and Brokerage Assets
Advisory assets	869.5	850.6	2.2%		680.8	27.7%
Brokerage assets	690.6	678.7	1.8%		590.5	17.0%
Total Advisory and Brokerage Assets	1,560.1	1,529.3	2.0%		1,271.3	22.7%
Organic Net New Assets
Net new organic advisory assets	5.4	6.8	n/m		8.3	n/m
Net new organic brokerage assets	1.1	2.2	n/m		4.7	n/m
Total Organic Net New Assets	6.6	9.0	n/m		13.1	n/m
Acquired Net New Assets
Net new organic advisory assets	0.2	0.0	n/m		0.0	n/m
Net new organic brokerage assets	0.0	0.0	n/m		0.0	n/m
Total Acquired Net New Assets	0.3	0.0	n/m		0.0	n/m
Total Net New Assets
Net new advisory assets	5.7	6.8	n/m		8.3	n/m
Net new brokerage assets	1.2	2.2	n/m		4.7	n/m
Total Net New Assets	6.8	9.0	n/m		13.1	n/m
Net brokerage to advisory conversions	1.3	1.0	n/m		0.9	n/m

Client Cash Balances
Insured cash account sweep	30.4	31.1	(2.3%)	34.7	(12.4%)
Deposit cash account sweep	9.3	9.1	2.2%	9.1	2.2%
Total Bank Sweep	39.7	40.2	(1.2%)	43.8	(9.4%)
Money market sweep	2.2	2.3	(4.3%)	2.5	(12.0%)
Total Client Cash Sweep Held by Third Parties	41.9	42.5	(1.4%)	46.3	(9.5%)
Client cash account(1)	1.4	1.5	(6.7%)	1.3	7.7%
Total Client Cash Balances	43.3	44.0	(1.6%)	47.7	(9.2%)
Net buy (sell) activity	12.6	12.9	n/m	12.7	n/m
Market Drivers
S&P 500 Index (end of period)	5,648	5,522	2.3%	4,508	25.3%
Russell 2000 Index (end of period)	2,218	2,254	(1.6%)	1,900	16.7%
Fed Funds daily effective rate (average bps)	533	533	—%	533	—%

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 more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 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.