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LPL Financial (LPLA) Reports Improvement in August Metrics
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LPL Financial Holdings Inc.’s (LPLA - Free Report) activity report for August 2018 reflects improvement from the prior month. The company’s total brokerage and advisory assets of $678.7 billion at the end of August were up 1.5% sequentially. Of the total brokerage and advisory assets, brokerage assets were $374.4 billion while advisory assets totaled $304.4 billion.
Additionally, total net new assets were an inflow of $1.3 billion in August. This included $1.4 billion of outflows from a small number of hybrid firms, in line with LPL Financial’s expectations as discussed during its second-quarter 2018 earnings call. Prior to these outflows, total net new assets were an inflow of $2.7 billion.
LPL Financial reported $28.1 billion of total client cash sweep balances for August, down marginally from July. Of the total, $21.1 billion was insured cash, $3.9 billion was deposit cash while the remaining $3.1 billion was money market cash balance.
With the gradual stabilization of equity markets, trading activities are anticipated to improve. While dismal top-line growth poses a near-term concern, LPL Financial’s efforts to extend its offerings to all affiliated advisors are expected to help it gain greater market share.
The company’s share price movement reflects investors’ optimism as the stock has rallied 15.4% so far this year against 3.2% decline for the industry.
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) in August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% sequentially. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
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LPL Financial (LPLA) Reports Improvement in August Metrics
LPL Financial Holdings Inc.’s (LPLA - Free Report) activity report for August 2018 reflects improvement from the prior month. The company’s total brokerage and advisory assets of $678.7 billion at the end of August were up 1.5% sequentially. Of the total brokerage and advisory assets, brokerage assets were $374.4 billion while advisory assets totaled $304.4 billion.
Additionally, total net new assets were an inflow of $1.3 billion in August. This included $1.4 billion of outflows from a small number of hybrid firms, in line with LPL Financial’s expectations as discussed during its second-quarter 2018 earnings call. Prior to these outflows, total net new assets were an inflow of $2.7 billion.
LPL Financial reported $28.1 billion of total client cash sweep balances for August, down marginally from July. Of the total, $21.1 billion was insured cash, $3.9 billion was deposit cash while the remaining $3.1 billion was money market cash balance.
With the gradual stabilization of equity markets, trading activities are anticipated to improve. While dismal top-line growth poses a near-term concern, LPL Financial’s efforts to extend its offerings to all affiliated advisors are expected to help it gain greater market share.
The company’s share price movement reflects investors’ optimism as the stock has rallied 15.4% so far this year against 3.2% decline for the industry.
LPL Financial currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of Other Investment Brokers
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) in August on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 267,619, up 20% year over year and 7% sequentially. Notably, derivatives comprised 32% of DARTs in August.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for August. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 741,000, up 6% from August 2017, but down 1% from July 2018.
Charles Schwab’s (SCHW - Free Report) monthly activity for August 2018 reflects year over year and sequential rise. Total client assets came in at $3.6 trillion at the end of the month, increasing 14% from the year-ago month and 2% from the prior month.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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