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CST: 20/09/2020 06:08:27   

LPL Financial Reports Monthly Activity for January 2019

576 Days ago

SAN DIEGO, Feb. 21, 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 January 2019.

Total brokerage and advisory assets served at the end of January were approximately $661 billion, a $32.7 billion increase, or 5.2 percent, compared to the end of December 2018.

Total net new assets (NNA) for January were an inflow of $0.7 billion. This included $0.2 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 Q4 2018 earnings call. Prior to these outflows, total net new assets for January were an inflow of $0.9 billion.

Total client cash sweep balances at the end of January were $32.2 billion, a $2.7 billion decrease compared to December 2018. Net buying in January was $5.0 billion which was the primary driver of the decline in cash sweep balances.

           
(End of Period $ in billions, unless noted) January December Change January Change
2019 2018 M/M 2018 Y/Y
Assets Served          
Advisory Assets 298.5 282.0 5.9% 284.1 5.1%
Brokerage Assets 362.3 346.0 4.7% 352.3 2.8%
Total Brokerage and Advisory Assets 660.8 628.1 5.2% 636.5 3.8%
           
Net New Assets          
Net New Advisory Assets 0.9 0.9 n/m 3.0 n/m
Net New Brokerage Assets (0.2) (0.1) n/m 0.7 n/m
Total Net New Assets 0.7 0.8 n/m 3.7 n/m
           
Net Brokerage to Advisory Conversions 0.3 0.3 n/m 1.0 n/m
           
Cash Sweep Balances          
Insured Cash Account Balances 22.9 24.8 (7.7%) 22.2 3.2%
Deposit Cash Account Balances 4.5 5.1 (11.8%) 4.0 12.5%
Money Market Account Cash Balances 4.8 4.9 (2.0%) 2.5 92.0%
Total Cash Sweep Balances 32.2 34.9 (7.7%) 28.7 12.2%
           
Net Buy (Sell) Activity 5.0 (1.7) n/m 3.9 n/m
           
Market Indices          
S&P 500 (end of period) 2,704 2,507 7.9% 2,824 (4.2%)
Fed Funds Effective Rate (average bps) 240 227 5.7% 142 69.0%
           

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 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. LPL.com

*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
investor.lpl.com/contact-us

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