Press release
LPL Financial Reports Monthly Activity for October 2024
SAN DIEGO, Nov. 21, 2024 (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, Nov. 21, 2024 (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 October 2024. Total advisory and brokerage assets at the end of October were $1.67 trillion, an increase of $81.2 billion, or 5.1%, compared to the end of September 2024. Total net new assets for October were $96.6 billion, which included $88.0 billion of acquired net new assets resulting from the acquisition of Atria Wealth Solutions, Inc. (“Atria”) and $0.3 billion of acquired net new assets resulting from Liquidity & Succession activity. Total organic net new assets for October were $8.3 billion, translating to a 6.2% annualized growth rate. This included $1.0 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 $9.3 billion, translating to a 7.0% annualized growth rate. Total organic net new advisory assets were $8.8 billion, translating to a 11.9% 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 12.2% annualized growth rate. Total client cash balances at the end of October were $48.3 billion, an increase of $2.5 billion compared to the end of September 2024. This included $2.3 billion resulting from the acquisition of Atria. Net buying in October was $12.5 billion. (End of period $ in billions, unless noted)October SeptemberChangeOctoberChange2024 2024M/M2023Y/YAdvisory and Brokerage Assets Advisory assets910.6 892.0 2.1%653.6 39.3%Brokerage assets762.7 700.1 8.9%565.8 34.8%Total Advisory and Brokerage Assets1,673.3 1,592.1 5.1%1,219.4 37.2% Organic Net New Assets Organic net new advisory assets8.8 11.0n/m5.7n/mOrganic net new brokerage assets(0.5) 0.5n/m1.5n/mTotal Organic Net New Assets8.3 11.4n/m7.2n/m Acquired Net New Assets Acquired net new advisory assets21.3 0.2n/m0.0n/mAcquired net new brokerage assets67.0 0.1n/m0.0n/mTotal Acquired Net New Assets88.3 0.3n/m0.0n/m Total Net New Assets Net new advisory assets30.1 11.2n/m5.7n/mNet new brokerage assets66.5 0.5n/m1.5n/mTotal Net New Assets96.6 11.7n/m7.2n/m Net brokerage to advisory conversions1.1 1.2n/m0.8n/m Client Cash Balances In...