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LPL Financial Reports Monthly Activity for April 2019

1101 Days ago

SAN DIEGO, May 16, 2019 (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 April 2019.

Total brokerage and advisory assets served at the end of April were approximately $699 billion, a $15.3 billion increase, or 2.2 percent, compared to the end of March 2019.

Total net new assets (NNA) for April were an inflow of $0.7 billion. This included $0.3 billion of outflows related to a large hybrid firm that is setting up its own broker/dealer and departing as discussed during the Company’s Q1 2019 earnings call. Prior to these outflows, total net new assets for April were an inflow of $1.0 billion.

Total client cash sweep balances at the end of April were $29.2 billion, a $1.5 billion decrease compared to March 2019. Net buying in April was $3.9 billion.

(End of Period $ in billions, unless noted) April March Change April Change
2019 2019 M/M 2018 Y/Y
Assets Served          
Advisory Assets 320.5 311.9 2.8% 284.7 12.6%
Brokerage Assets 378.8 372.1 1.8% 367.6 3.0%
Total Brokerage and Advisory Assets 699.3 684.0 2.2 % 652.3 7.2 %
Net New Assets          
Net New Advisory Assets 1.6 2.2 n/m 1.1 (1) n/m
Net New Brokerage Assets (1.0) 0.1 n/m (1.2) (1) n/m
Total Net New Assets 0.7 2.3 n/m (0.1) (1) n/m
Net Brokerage to Advisory Conversions 0.6 0.5 n/m 0.6 n/m
Cash Sweep Balances          
Insured Cash Account Balances 20.7 21.7 (4.6%) 22.2 (6.8%)
Deposit Cash Account Balances 4.1 4.3 (4.7%) 4.0 2.5%
Money Market Account Cash Balances 4.4 4.8 (8.3%) 2.7 63.0%
Total Cash Sweep Balances 29.2 30.7 (4.9 %) 28.9 1.0 %
Net Buy (Sell) Activity 3.9 3.6 n/m 2.6 n/m
Market Indices          
S&P 500 (end of period) 2,946 2,834 4.0% 2,648 11.3%
Fed Funds Effective Rate (average bps) 242 240 0.8% 169 43.2%

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(2). 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.

1)   For comparability, net new assets for April 2018 are presented prior to assets resulting from the Company’s acquisition of the broker-dealer network of National Planning Holdings, Inc. Including those assets, Net New Advisory Assets for April 2018 were inflows of $1.1 billion, Net New Brokerage Assets for April 2018 were inflows of $1.0 billion, and Total Net New Assets for April 2018 were inflows of $2.1 billion.
2)   Based on total revenues, Financial Planning magazine June 1996-2018.

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

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Jeff Mochal, (704) 733-3589

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