Business
LPL Financial Reports Monthly Activity for November 2023
SAN DIEGO, Dec. 18, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the
About this update from Lpl Financial Holdings Inc.
[{"type":"text","content":"SAN DIEGO, Dec. 18, 2023 (GLOBE NEWSWIRE) -- 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 November 2023. Total advisory and brokerage assets at the end of November were $1.30 trillion, an increase of $81.0 billion, or 6.6%, compared to the end of October 2023. Total net new assets for November were $8.4 billion, translating to an 8.2% annualized growth rate. Total net new advisory assets were $6.7 billion, translating to a 12.3% annualized growth rate. Total client cash balances at the end of November were $47.3 billion, an increase of $0.4 billion compared to the end of October 2023. Net buying in November was $11.3 billion. (End of period $ in billions, unless noted)NovemberOctoberChangeNovemberChange20232023M/M2022Y/YAdvisory and Brokerage Assets Advisory assets702.3653.67.5%599.017.2%Brokerage assets598.2565.85.7%536.911.4%Total Advisory and Brokerage Assets1,300.41,219.46.6%1,135.914.5% Total Net New Assets Net new advisory assets6.75.7n/m3.6n/mNet new brokerage assets1.71.5n/m2.0n/mTotal Net New Assets8.47.2n/m5.6n/m Organic Net New Assets Net new organic advisory assets6.75.7n/m3.6n/mNet new organic brokerage assets1.71.5n/m2.0n/mTotal Organic Net New Assets8.47.2n/m5.6n/m Net brokerage to advisory conversions0.90.8n/m0.7n/m Client Cash Balances Insured cash account sweep33.833.50.9%45.4(25.6%)Deposit cash account sweep8.99.0(1.1%)11.5(22.6%)Total Bank Sweep42.742.50.5%56.8(24.8%)Money market sweep2.42.4—%3.0(20.0%)Total Client Cash Sweep Held by Third Parties45.244.90.7%59.8(24.4%)Client cash account2.12.1—%2.7(22.2%)Total Client Cash Balances47.346.90.9%62.5(24.3%) Net buy (sell) activity11.310.7n/m9.4n/m Market Drivers S&P 500 Index (end of period)4,5684,1948.9%4,08012.0%Russell 2000 Index (end of period)1,8091,6628.8%1,887(4.1%)Fed Funds daily effective rate (average bps)533533—%37741.4% 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 [email protected] Media [email protected] About LPL Financial LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on ...