LPL Financial Reports Monthly Activity for May 2024
June 20 2024 - 3:05PM
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 May 2024.
Total advisory and brokerage assets at the end of May were
$1.46 trillion, an increase of $51.4 billion, or 3.6%,
compared to the end of April 2024.
Total net new assets for May were $11.2 billion,
translating to a 9.5% annualized growth rate. Total net new
advisory assets were $9.9 billion, translating to a 15.3%
annualized growth rate.
Total client cash balances at the end of May were
$44.5 billion, a decrease of $1.2 billion compared to the end
of April 2024. Net buying in May was a record
$15.0 billion.
(End of period $ in billions, unless noted) |
May |
|
April |
|
Change |
|
May |
|
Change |
|
2024 |
|
2024 |
|
M/M |
|
2023 |
|
Y/Y |
|
Advisory and Brokerage Assets |
|
|
|
|
|
|
|
Advisory assets |
809.4 |
|
775.5 |
|
4.4 |
% |
629.8 |
|
28.5 |
% |
Brokerage assets |
655.0 |
|
637.5 |
|
2.7 |
% |
560.2 |
|
16.9 |
% |
Total Advisory and Brokerage Assets |
1,464.4 |
|
1,413.0 |
|
3.6 |
% |
1,190.0 |
|
23.1 |
% |
|
|
|
|
|
|
|
|
Total Net New Assets |
|
|
|
|
|
|
|
Net
new advisory assets |
9.9 |
|
7.6 |
|
n/m |
|
7.0 |
|
n/m |
|
Net
new brokerage assets |
1.3 |
|
4.3 |
|
n/m |
|
1.2 |
|
n/m |
|
Total Net New Assets |
11.2 |
|
12.0 |
|
n/m |
|
8.1 |
|
n/m |
|
|
|
|
|
|
|
|
|
|
|
Organic Net New Assets |
|
|
|
|
|
|
|
|
|
Net
new organic advisory assets |
9.9 |
|
7.4 |
|
n/m |
|
7.0 |
|
n/m |
|
Net
new organic brokerage assets |
1.3 |
|
(0.4 |
) |
n/m |
|
1.2 |
|
n/m |
|
Total Organic Net New Assets |
11.2 |
|
7.0 |
|
n/m |
|
8.1 |
|
n/m |
|
|
|
|
|
|
|
|
|
|
|
Net
brokerage to advisory conversions |
1.2 |
|
1.2 |
|
n/m |
|
0.7 |
|
n/m |
|
|
|
|
|
|
|
|
|
Client Cash Balances |
|
|
|
|
|
|
|
Insured cash account sweep |
31.8 |
|
32.5 |
|
(2.2 |
%) |
36.5 |
|
(12.9 |
%) |
Deposit cash account sweep |
9.0 |
|
9.1 |
|
(1.1 |
%) |
9.7 |
|
(7.2 |
%) |
Total Bank Sweep |
40.8 |
|
41.6 |
|
(1.9 |
%) |
46.2 |
|
(11.7 |
%) |
Money
market sweep |
2.3 |
|
2.3 |
|
— |
% |
2.5 |
|
(8.0 |
%) |
Total Client Cash Sweep Held by Third Parties |
43.1 |
|
43.8 |
|
(1.6 |
%) |
48.7 |
|
(11.5 |
%) |
Client cash account(1) |
1.3 |
|
1.9 |
|
(31.6 |
%) |
1.4 |
|
(7.1 |
%) |
Total Client Cash Balances |
44.5 |
|
45.7 |
|
(2.6 |
%) |
50.1 |
|
(11.2 |
%) |
|
|
|
|
|
|
|
|
Net
buy (sell) activity |
15.0 |
|
12.3 |
|
n/m |
|
9.5 |
|
n/m |
|
|
|
|
|
|
|
|
|
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. |
|
|
|
|
|
|
|
|
Market Drivers |
|
|
|
|
|
|
|
S&P 500 Index (end of period) |
5,278 |
|
5,036 |
|
4.8 |
% |
4,180 |
|
26.3 |
% |
Russell 2000 Index (end of period) |
2,070 |
|
1,974 |
|
4.9 |
% |
1,750 |
|
18.3 |
% |
Fed
Funds daily effective rate (average bps) |
533 |
|
533 |
|
— |
% |
505 |
|
5.5 |
% |
|
|
|
|
|
|
|
|
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 nearly 23,000 financial advisors, including
advisors at approximately 1,100 institutions and at approximately
570 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.
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