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LPL Financial Reports Monthly Activity for August 2020

LPL Financial Holdings, Inc.

SAN DIEGO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Leading retail investment advisory firm and independent broker-dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA), today released its monthly activity report for August 2020.

Total brokerage and advisory assets served at the end of August were approximately $823 billion, an increase of 3.9% compared to the end of July 2020.

Total net new assets for August were an inflow of $3.1 billion, translating to a 4.7% annualized growth rate. This includes total net new advisory assets of $3.1 billion, translating to a 9.4% annualized growth rate.

Total client cash balances at the end of August were $45.1 billion, which were flat compared to the end of July 2020. Net buying in August was $3.6 billion. 

(End of Period $ in billions, unless noted)

August

July

Change

August

Change

2020

2020

M/M

2019

Y/Y

Assets Served

 

 

 

 

 

Advisory Assets

410.4

392.7

4.5%

333.0

       23.2%

Brokerage Assets

412.2

399.2

3.3%

378.7

      8.8%

Total Brokerage and Advisory Assets

822.7

791.9

3.9%

711.7

       15.6%

 

 

 

 

 

 

Total Net New Assets*

 

 

 

 

 

Net New Advisory Assets

3.1

2.9

n/m

3.3**

n/m

Net New Brokerage Assets

0.0

0.0

n/m

       (0.2)**

n/m

Total Net New Assets

3.1

2.9

n/m

3.0**

n/m

 

 

 

 

 

 

Net Brokerage to Advisory Conversions

0.6

0.7

n/m

0.5

n/m

 

 

 

 

 

 

Client Cash Balances

 

 

 

 

 

Insured Cash Account Balances

33.4

33.2

0.6%

22.0

51.8%

Deposit Cash Account Balances

7.6

7.6

0.0%

4.5

68.9%

Total Insured Sweep Balances

41.0

40.8

0.5%

26.5

54.7%

Money Market Sweep Accounts

1.5

1.6

n/m

2.8

n/m

Purchased Money Market Funds

2.6

2.8

n/m

1.7

n/m

Total Money Market Balances

4.1

4.4

     (6.8)%

4.5

      (8.9)%

Total Client Cash Balances

45.1

45.1

     0.0%

31.0

       45.5%

 

 

 

 

 

 

Net Buy (Sell) Activity

3.6

2.9

n/m

2.8

n/m

 

 

 

 

 

 

Market Indices

 

 

 

 

 

S&P 500 (end of period)

3,500

3,271

7.0%

2,926

19.6%

Fed Funds Effective Rate (average bps)

9

9

n/m

213

n/m

 

 

 

 

 

 








 

* Total Net New Assets consists of asset inflows minus outflows, plus dividends, plus interest, minus advisory fees.

** Total Net New Assets for August 2019 are prior to inflows from the acquisition of Allen & Company, which closed in August of 2019. Including the acquisition of Allen & Company, Total Net New Assets for August 2019 were $5.9 billion, of which $4.3 billion were Net New Advisory Assets and $1.6 billion were Net New Brokerage Assets.    

Note: These results do not include any assets related to LPL’s E.K. Riley Investments or Lucia Securities acquisitions, which as of the date hereof have not onboarded to LPL’s platform.

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.

About LPL Financial

LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation’s largest independent broker/dealer(+). We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

+ Based on total revenues, Financial Planning magazine June 1996-2020.

Securities and Advisory Services offered through LPL Financial LLC, a Registered Investment Advisor. Member FINRA/SIPC.

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Jeff Mochal, (704) 733-3589
investor.lpl.com/contact-us