LPL Financial Reports Monthly Activity for April 2023

SAN DIEGO, May 17, 2023 (GLOBE NEWSWIRE) -- 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 April 2023.

Total advisory and brokerage assets at the end of April were $1.19 trillion, an increase of $12.5 billion, or 1.1%, compared to the end of March 2023.

Total net new assets for April were $4.4 billion, translating to an 4.5% annualized growth rate. Total net new advisory assets were $3.4 billion, translating to an 6.6% annualized growth rate.

Total client cash balances at the end of April were $50.9 billion, a decrease of $3.7 billion compared to the end of March 2023. Net buying in April was $11.1 billion.

(End of period $ in billions, unless noted)
April March Change April Change 
2023 2023 M/M 2022 Y/Y 
Advisory and Brokerage Assets       
Advisory assets628.2 620.9 1.2%586.3 7.1%
Brokerage assets559.5 554.3 0.9%509.5 9.8%
Total Advisory and Brokerage Assets1,187.7 1,175.2 1.1%1,095.8 8.4%
        
Total Net New Assets       
Net new advisory assets3.4 6.3 n/m 2.2 n/m 
Net new brokerage assets1.0 4.3 n/m (0.3)n/m 
Total Net New Assets4.4 10.6 n/m 1.9 n/m 
         
Organic Net New Assets        
Net new organic advisory assets3.4 6.3 n/m 2.2 n/m 
Net new organic brokerage assets1.0 3.9 n/m (0.3)n/m 
Total Organic Net New Assets4.4 10.1 n/m 1.9 n/m 
          
Net brokerage to advisory conversions0.6 0.7 n/m 0.7 n/m 
        
Client Cash Balances        
Insured cash account sweep37.0 39.7 (6.8%)34.1 8.5%
Deposit cash account sweep9.5 10.2 (6.9%)9.2 3.3%
Total Bank Sweep46.5 49.9 (6.8%)43.3 7.4%
Money market sweep2.5 2.6 (3.8%)16.9 (85.2%)
Total Client Cash Sweep Held by Third Parties49.0 52.5 (6.7%)60.2 (18.6%)
Client cash account1.9 2.1 (9.5%)1.4 35.7%
Total Client Cash Balances50.9 54.6 (6.8%)61.7 (17.5%)
        
Net buy (sell) activity11.1 13.4 n/m 3.1 n/m 
        
Market Drivers       
S&P 500 Index (end of period)4,169 4,109 1.5%4,132 0.9%
Russell 2000 Index (end of period)1,769 1,802 (1.8%)1,864 (5.1%)
Fed Funds daily effective rate (average bps)483 465 3.9%33 n/m 

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 Relations
investor.relations@lplfinancial.com
(617) 897-4574

Media Relations
media.relations@lplfinancial.com
(980) 321-1232

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated advice model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

Securities and Advisory services offered through LPL Financial LLC ("LPL Financial"), an SEC-registered broker-dealer and 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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