LPL Financial Reports Monthly Activity for July 2024
August 22 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 July 2024.
Total advisory and brokerage assets at the end of July were
$1.53 trillion, an increase of $31.5 billion, or 2.1%,
compared to the end of June 2024.
Total net new assets for July were $9.0 billion,
translating to a 7.2% annualized growth rate. This included $0.6
billion of assets that off-boarded as part of the previously
disclosed planned separation from misaligned large OSJs. Excluding
these assets, total net new assets were $9.5 billion, translating
to a 7.7% annualized growth rate.
Total net new advisory assets were $6.8 billion,
translating to a 9.8% annualized growth rate. Excluding the
off-boarded assets from misaligned large OSJs, total net new
advisory assets were $7.3 billion, translating to a 10.6%
annualized growth rate.
Total client cash balances at the end of July were
$44.0 billion, unchanged compared to the end of June 2024. Net
buying in July was $12.9 billion.
(End of period $ in billions, unless noted) |
July |
|
June |
|
Change |
July |
|
Change |
2024 |
|
2024 |
|
M/M |
2023 |
|
Y/Y |
Advisory and Brokerage
Assets |
|
|
|
|
|
|
|
|
Advisory assets |
850.6 |
|
829.1 |
|
2.6 |
% |
684.4 |
|
24.3 |
% |
Brokerage assets |
678.7 |
|
668.7 |
|
1.5 |
% |
594.0 |
|
14.3 |
% |
Total Advisory and
Brokerage Assets |
1,529.3 |
|
1,497.8 |
|
2.1 |
% |
1,278.4 |
|
19.6 |
% |
|
|
|
|
|
|
|
|
|
Total Net New
Assets |
|
|
|
|
|
|
|
|
Net new advisory assets |
6.8 |
|
9.2 |
|
n/m |
7.7 |
|
n/m |
Net new brokerage assets |
2.2 |
|
1.6 |
|
n/m |
3.4 |
|
n/m |
Total Net New
Assets |
9.0 |
|
10.8 |
|
n/m |
11.0 |
|
n/m |
|
|
|
|
|
|
|
|
|
Organic Net New
Assets |
|
|
|
|
|
|
|
|
Net new organic advisory
assets |
6.8 |
|
9.2 |
|
n/m |
7.7 |
|
n/m |
Net new organic brokerage
assets |
2.2 |
|
1.6 |
|
n/m |
3.4 |
|
n/m |
Total Organic Net New
Assets |
9.0 |
|
10.8 |
|
n/m |
11.0 |
|
n/m |
|
|
|
|
|
|
|
|
|
Net brokerage to advisory
conversions |
1.0 |
|
1.2 |
|
n/m |
0.9 |
|
n/m |
|
|
|
|
|
|
|
|
|
Client Cash
Balances |
|
|
|
|
|
|
|
|
Insured cash account
sweep |
31.1 |
|
31.0 |
|
0.3 |
% |
35.1 |
|
(11.4 |
%) |
Deposit cash account
sweep |
9.1 |
|
9.2 |
|
(1.1 |
%) |
9.1 |
|
— |
% |
Total Bank Sweep |
40.2 |
|
40.2 |
|
— |
% |
44.3 |
|
(9.3 |
%) |
Money market sweep |
2.3 |
|
2.3 |
|
— |
% |
2.4 |
|
(4.2 |
%) |
Total Client Cash Sweep Held by Third Parties |
42.5 |
|
42.5 |
|
— |
% |
46.6 |
|
(8.8 |
%) |
Client cash account(1) |
1.5 |
|
1.5 |
|
— |
% |
1.6 |
|
(6.3 |
%) |
Total Client Cash
Balances |
44.0 |
|
44.0 |
|
— |
% |
48.3 |
|
(8.9 |
%) |
|
|
|
|
|
|
|
|
|
Net buy (sell) activity |
12.9 |
|
12.1 |
|
n/m |
11.6 |
|
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) |
5,522 |
|
5,460 |
|
1.1 |
% |
4,589 |
|
20.3 |
% |
Russell 2000 Index (end of
period) |
2,254 |
|
2,048 |
|
10.1 |
% |
2,003 |
|
12.5 |
% |
Fed Funds daily effective rate
(average bps) |
533 |
|
533 |
|
— |
% |
512 |
|
4.1 |
% |
|
|
|
|
|
|
|
|
|
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 more than 23,000 financial advisors, including
advisors at approximately 1,000 institutions and at approximately
580 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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