Slide 1: LPL Financial Holdings Inc. Q1 2026 Key Metrics
LPL Financial Holdings Inc. Q1 2026 Key Metrics April 30, 2026 Member FINRA/SIPC
Slide 2: Notice to Investors: Safe Harbor Statement
Notice to Investors: Safe Harbor Statement Statements in this presentation regarding LPL Financial Holdings Inc.’s (together with its subsidiaries, the “Company”) future financial and operating results, growth, plans, priorities, business strategies, capabilities and outlook, including forecasts and
Slide 3: Notice to Investors: Non-GAAP Financial Measures
Notice to Investors: Non-GAAP Financial Measures Management believes that presenting certain non-GAAP financial measures by excluding or including certain items can be helpful to investors and analysts who may wish to use this information to analyze the Company’s current performance, prospects and v
Slide 4: Operating Metrics
Operating Metrics Total Client Assets ($B) Total Net New Assets (“NNA”) ($B) ◼ Total Client Assets Advisory Assets % of Total Client Assets YOY ◼ Total Organic NNA(1) ◼ Total Acquired NNA(2) ◼ Annualized Organic Growth Rate Change $307.7 $2,371 30% $157.3 $2,315 $2,336 $1,795 $1,919 $275.0 $1,741 $8
Slide 5: Financial Results
Financial Results Gross Profit* ($M) Adjusted Pre-Tax Income* ($M) YOY YOY Change Change $1,593 25% $613 20% $1,542 $569 $559 $1,479 $509 $490 $1,273 $1,304 $413 $420 $1,228 $398 $411 $1,079 $1,128 $1,066 Q1 Q2 Q3 Q4 † Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2024 2025 2026 2024 2025 2026 Adjusted
Slide 6: Organic NNA growth rate was ~4% in Q1 and ~5% over the past 4 quarters
Organic NNA growth rate was ~4% in Q1 and ~5% over the past 4 quarters Total Organic NNA(1) ($B) Organic Advisory NNA(1)(7) ($B) Organic Brokerage NNA(1)(7) ($B) ◼ Total Organic NNA ◼ Organic Advisory NNA ◼ Organic Brokerage NNA Annualized Organic Growth Rate Net Brokerage to Advisory Conversions(8)
Slide 7: Centrally Managed Assets grew at a 19% organic growth rate over the past 4 quarters
Centrally Managed Assets grew at a 19% organic growth rate over the past 4 quarters Centrally Managed Assets(9) ($B) Organic Centrally Managed NNA 10) ($B) ◼ Centrally Managed Assets YOY ◼ Organic Centrally Managed NNA Centrally Managed Assets % of Total Advisory Assets Change Annualized Organic Gro
Slide 8: Net Buy (Sell) Activity was $43B in Q1; the Payout Rate was 87.2%
Net Buy (Sell) Activity was $43B in Q1; the Payout Rate was 87.2% Net Buy (Sell) Activity(11) ($B) Payout Rate (%) ◼ Net Buy (Sell) Activity Client Cash % of Total Client Assets $43.2 $42.0 $41.8 $40.5 88.0 $39.3 87.8 $37.8 $37.7 $38.3 $36.6 87.5 87.5 87.3 87.3 87.2 86.8 86.6 3.2% 3.2% 2.9% 2.9% 3.0
Slide 9: Service and Fee Revenue grew 45% year-over-year
Service and Fee Revenue grew 45% year-over-year, as our advisor and account base continued to grow Service and Fee Revenue ($M) Transaction Revenue ($M) YOY Change $81 $211 45% $75 $68 $67 $62 $61 $57 $59 $59 $181 $175 $152 $146 $145 $139 $132 $135 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 10: EBIT ROA decreased in Q1
EBIT ROA decreased in Q1 Average Total Client Assets ($B) ◼ Average Total Client Assets(12) YOY SEQ Gross Profit* ROA(13) Change Change OPEX ROA(14) $2,195 34% 7% $2,050 $1,890 $1,737 $1,638 $1,537 $1,428 $1,354 $1,290 31.6 bps 30.7 bps 30.1 bps 29.1 bps 28.5 bps 28.3 bps 27.8 bps 27.3 bps 27.0 bps
Slide 11: Gross Profit* ROA decreased sequentially in Q1
Gross Profit* ROA decreased sequentially in Q1 Gross Profit* ROA(12) (bps) ◼ Client Cash ◼ Interest Income, Net and Other Revenue ◼ Service and Fee ◼ Transaction, Net of BC&E ◼ Other Asset-Based(16) ◼ Net Advisory Fees and Commissions 31.6 30.7 30.1 29.1 28.5 28.3 27.8 27.3 27.0 11.8 11.0 10.4 9.8 9
Slide 12: OPEX ROA increased sequentially in Q1
OPEX ROA increased sequentially in Q1 Total OPEX % of Assets(14) (bps) ◼ Amortization of Other Intangible Assets ◼ D&A Expense (ex Amortization of Other Intangible Assets) ◼ Employee Share-based Compensation ◼ Promotional ◼ TA Loan Amortization ◼ Regulatory ◼ Core G&A* 18.5 18.3 17.9 17.6 0.9 0.9 17
Slide 13: Our client cash balances are largely operational and decreased to 2.5% of total assets in Q1
Our client cash balances are largely operational and decreased to 2.5% of total assets in Q1 We generate economics on client cash through a Client Cash Balances(17) ($B) third-party bank network ◼ CCA and Money Market † Balances • By establishing sweep relationships across our ICA and ◼ DCA Balances
Slide 14: Fixed rate balances make up ~60% of the ICA portfolio
Fixed rate balances make up ~60% of the ICA portfolio†, reducing our sensitivity to movement in short-term interest rates ICA Balances, including Overflow (end of period, $B) ◼ Variable ICA Balances Variable balances are primarily indexed to Fed Funds ◼ Fixed Rate ICA Balances ◼ Fixed Rate ICA Balan
Slide 15: We remain focused on investing to drive organic growth while delivering long-term operating leverage
We remain focused on investing to drive organic growth while delivering long-term operating leverage in our core business Long-term cost strategy: Annual Core G&A* Growth Deliver operating leverage 15% in core business 13% 2026 Outlook $1,775-1,800M Prior to Commonwealth 8% ~4.5-6% Commonwealth $380
Slide 16: Our balance sheet remains strong…
Our balance sheet remains strong… Corporate Cash(18) ($M) Leverage Ratio(19) • Our strategy is to maintain a strong balance sheet that can • A long-term target leverage range of 1.5x to 2.5x positions our absorb market volatility while having the capacity to invest for balance sheet well over a rang
Slide 17: ...And we have continued to return capital to shareholders
...And we have continued to return capital to shareholders Share Repurchases and Dividends ($M) ◼ Share Repurchases ◼ Dividends $373 $2B share repurchase authorization† $299 $273 $248 Paused share repurchases Paused share following the repurchases announcement of the following the acquisition of Atr
Slide 18: Appendix
DSS. Appendix Vi ae ee
Slide 19: Corporate and Independent RIA Advisory assets
Corporate and Independent RIA† Advisory assets Corporate and Independent RIA† Advisory Asset Mix ($B) Organic Corporate and Independent RIA† Advisory NNA Mix ($B) ◼ Independent RIA† Advisory Assets(20) YOY ◼ Organic Independent RIA† Advisory NNA(21) ◼ Corporate RIA Advisory Assets(20) Change ◼ Organ
Slide 20: Monthly Metrics Dashboard through March 2026
Monthly Metrics Dashboard through March 2026 Total Client Assets ($B) Total NNA ($B) ◼ Total Client Assets Advisory Assets % of Total Client Assets YOY SEQ ◼ Total Organic NNA(1) ◼ Total Acquired NNA(2) ◼ Annualized Organic Growth Rate Change Change 292.8 2,409 2,431 2,336 2,264 2,315 2,351 2,364 2,
Slide 21: Reconciliation
Reconciliation Adjusted EPS* and Adjusted Net Income* Adjusted EPS* and adjusted net income* are non-GAAP financial measures. Please see a description of adjusted EPS* and adjusted net income* under “Non-GAAP Financial Measures” on page 3 of this presentation for additional information. Below are th
Slide 22: Reconciliation
Reconciliation Gross Profit* Gross profit* is a non-GAAP financial measure. Please see a description of gross profit* under “Non-GAAP Financial Measures” on page 3 of this presentation for additional information. Below is a calculation of gross profit* for the periods presented herein: $ in millions
Slide 23: Reconciliation
Reconciliation Core G&A* to Total Expense Core G&A* is a non-GAAP financial measure. Please see a description of Core G&A* under “Non-GAAP Financial Measures” on page 3 of this presentation for additional information. Below is a reconciliation of total expense to Core G&A* for the periods presented
Slide 24: Endnotes
Endnotes (1) Total Organic NNA includes net new assets from Large Institutions for the periods presented below: $ in billions Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Advisory - - 4.2 - 6.8 18.4 - - - Brokerage - 0.8 12.9 0.1 36.1 21.2 - - - Total Organic NNA from Larg
Slide 25: Endnotes
Endnotes (19) The Company calculates its leverage ratio as total debt less total corporate cash, divided by Credit Agreement EBITDA* for the trailing twelve months. (20) Assets on the Company’s corporate RIA platform are serviced by investment advisor representatives of LPL Financial or Allen & Comp