LPL Financial (LPLA) Records Improvement in February Assets
LPL Financial Holdings Inc.’s LPLA total brokerage and advisory assets of $925.1 billion at the end of February 2021 increased 2% from the prior month and 25.6% year over year. Of the total assets, brokerage assets were $447.7 billion and advisory assets totaled $477.4 billion.
Total assets increased from the prior month owing to significant volatility in the markets. Compared with January 2021, the S&P 500 Index rallied 2.1% in February.
Total net new assets were $5.9 billion in the reported month. In January 2021, net new assets were $3.6 billion and in February 2020 it summed $5.3 billion.
LPL Financial reported $48.3 billion of total client cash balance, down 1% from January 2021 but up 41.2% from February 2020. Of the total, $37.3 billion was insured cash and $7.9 billion was deposit cash, while the remaining was money-market balance.
So far this year, shares of LPL Financial have gained 34.9%, outperforming 26.2% growth recorded by the industry.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Brokerage Firms
Interactive Brokers Group IBKR released its Electronic Brokerage segment’s performance metrics for February 2021. The segment reported a substantial surge in Daily Average Revenue Trades (DARTs) for the reported month. Total client DARTs were 3,695,000, surging 175% from February 2020 and 12% from January 2021.
Tradeweb Markets Inc. TW reported total trading volume of $20.4 trillion in February 2021. Average daily volumes were a record $1.06 trillion, up 19.9% year over year.
Charles Schwab SCHW released its activity report for the month of February 2021. Total client assets were $6.90 trillion, up 2% from January 2021 and 79% from February 2020. Client assets receiving ongoing advisory services were $3.4 trillion, up 2% from the prior month and 69% year over year.
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