2022-09-22 | NDAQ:LPLA | Press release

SAN DIEGO, Sept. 22, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly business report for August 2022.

Total advisory and brokerage assets at the end of August were $1.1 trillion, down $19.5 billion, or 1.7%, from the end of August. July 2022.

Total net new assets for August were $9.7 billion, which translates to an annualized growth rate of 10.4%. This included $2.6 billion in brokerage assets and $0.2 billion in advisory assets from People’s United and $1.4 billion in brokerage assets from CUNA that were brought on board in August.(1). Total net new consulting assets were $4.2 billion, translating to an annualized growth rate of 8.5%.

Total customer cash balances at the end of August were $65.8 billion, down $3.6 billion from the end of July 2022. Net purchases in August were $9.3 billion, a new monthly high.

(End of period in billions of dollars, unless otherwise indicated)
August July To change August To change
2022 2022 M/M 2021 Y/Y
Advisory and brokerage assets
Advisory assets 580.0 593.4 (2.3 %) 604.6 (4.1 %)
Brokerage assets 524.9 530.9 (1.1 %) 552.3 (5.0 %)
Total advisory and brokerage assets 1,104.8 1,124.3 (1.7 %) 1,156.9 (4.5 %)
Total net new assets
Net new advisory assets 4.2 3.0 n/m 6.4 n/m
Net new brokerage assets 5.5 1.8 n/m 1.2 n/m
Total net new assets 9.7 4.8 n/m 7.6 n/m
New organic net assets
Organic Advisory Net New Assets 4.2 3.0 n/m 6.4 n/m
Net new organic brokerage assets 5.5 1.8 n/m 1.2 n/m
Total organic net new assets 9.7 4.8 n/m 7.6 n/m
Net Brokerage in Advisory Conversions 0.9 0.4 n/m 1.2 n/m
Customer cash balances
Insured cash account scanning 47.1 41.9 12.4 % 33.2 41.9 %
Transfer from cash deposit account 12.4 12.3 0.8 % 8.2 51.2 %
Full Bank Scan 59.5 54.2 9.8 % 41.4 43.7 %
Money Market Sweep 3.2 13.9 (77.0 %) 6.3 (49.2 %)
Total customer cash transfers held by third parties 62.7 68.1 (7.9 %) 47.7 31.4 %
Customer cash account 3.1 1.3 n/m 1.5 n/m
Total customer cash balances 65.8 69.4 (5.2 %) 49.2 33.7 %
Net buying (selling) activity 9.3 4.7 n/m 5.6 n/m
Market factors
S&P 500 Index (end of period) 3,955 4,130 (4.2 %) 4,523 (12.6 %)
Russell 2000 Index (end of period) 1,844 1,885 (2.2 %) 2,274 (18.9 %)
Daily effective federal funds rate (basis point average) 233 164 42.1 % 9 n/m

Note: Totals may not add due to rounding.

(1) At the end of August, $2.8 billion of customer assets were onboarded from People’s United out of a total of approximately $5 billion and $27.6 billion of assets from customers were integrated from CUNA totaling approximately 30 billion.

For more information regarding these and other LPL Financial business measures, please refer to Company Disclosures. latest results announcementwhich is available in the quarterly results section of investor.lpl.com.

contacts

Investor Relations

[email protected]

(617) 897-4574

Media Relations

[email protected]

(980) 321-1232

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that business should work for the advisor, not the other way around. Today, LPL is a leader in the markets we serve, supporting nearly 21,000 financial advisers, including advisers to approximately 1,100 institutional investment programs and approximately 500 registered investment advisory firms (“RIAs”) nationwide. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to personalized advice from a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice perfectly. And they have the freedom to manage their relationships with their customers because they know their customers best. Simply put, we take care of our advisors, so they can take care of their clients.

Best RIA Custodian (Cerulli Associates, 2020 US RIA Marketplace Report); #1 independent brokerage in the United States (based on total revenue, Financial Planning magazine 1996-2022); among third-party providers of brokerage services to banks and credit unions, #1 in growth of financial institutions’ assets under management; No. 1 in financial institution AUM market share; #1 in financial institution revenue market share; #1 in Financial Institutions Market Share; #1 in Advisor Share (Kehrer Bielan Research & Consulting TPM 2021-2022 Annual Report). Fortune 500 in June 2021.

LPL and its affiliates provide financial services only from the United States.

Securities and advisory services offered by LPL Financial, an SEC-registered broker-dealer and investment adviser. FINRA/SIPC member.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to Registered Representatives and/or representatives of investment advisers affiliated with LPL Financial.

We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

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