Press release
LPL Financial Announces First Quarter 2025 Results
Key Financial Results: Net Income was $319 million, translating to diluted earnings per share ("EPS") of $4.24, up 11% from a year agoAdjusted EPS* increased
About this update from Lpl Financial Holdings Inc.
[{"type":"text","content":"Key Financial Results: Net Income was $319 million, translating to diluted earnings per share (\"EPS\") of $4.24, up 11% from a year agoAdjusted EPS* increased 22% year-over-year to $5.15 Gross profit* increased 19% year-over-year to $1,273 millionCore G&A* increased 14% year-over-year to $413 millionAdjusted pre-tax income* increased 23% year-over-year to $509 million Key Business Results: Total advisory and brokerage assets increased 25% year-over-year to $1.8 trillion Advisory assets increased 23% year-over-year to $977 billionAdvisory assets as a percentage of total assets decreased to 54.5%, down from 55.0% a year ago Total organic net new assets were $71 billion, representing 16% annualized growth This included $27 billion of assets from Prudential Advisors (\"Prudential\") and $16 billion of assets from Wintrust Investments, LLC and certain private client business at Great Lakes Advisors, LLC (collectively, \"Wintrust\") that onboarded during the first quarter, as well as $0.7 billion of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Prior to these impacts, organic net new assets were $29 billion, translating to a 7% annualized growth rate Recruited assets(1) were $39 billion, up 91% from a year ago Recruited assets over the trailing twelve months were a record of $167 billion Total client cash balances were $53 billion, a decrease of $2 billion sequentially and an increase of $7 billion year-over-year Client cash balances as a percentage of total assets were 3.0%, down from 3.2% in the prior quarter and prior year Key Capital and Liquidity Results: Corporate cash(2) was $621 millionLeverage ratio(3) was 1.82xShare repurchases were $100 million and dividends paid were $22.4 million *See the Non-GAAP Financial Measures section and the endnotes to this release for further details about these non-GAAP financial measures Key Updates Large Institutions: Prudential: Completed the onboarding of Prudential, with $67 billion of brokerage and advisory assets, of which $27 billion transitioned onto our platform in Q1Wintrust: Onboarded Wintrust, with $16 billion of brokerage and advisory assets transitioning onto our platform in Q1First Horizon Bank (\"First Horizon\"): In April 2025, announced a strategic relationship agreement with First Horizon to transition support of t...