LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets were $1.12 trillion at the end of May 2022, increasing 2.2% from the prior month and 4.3% year over year. The rise in LPLA’s assets balance was mainly due to heightened market volatility and higher net new assets balance.
Of LPLA’s total assets, brokerage assets were $523.6 billion and advisory assets totaled $591.8 billion. Brokerage assets were up 3.7% and 2.6% from April 2022 and May 2021 levels, respectively. Advisory assets grew almost 1% from the prior month and 5.9% year over year.
LPL Financial’s total net new assets were $24.8 billion in the reported month. Net new assets were $1.9 billion and $6.1 billion in April 2022 and May 2021, respectively.
LPL Financial reported $67.1 billion of total client cash balance, up 8.6% from the April 2022-level and 40.4% from May 2021. Of the total balance, $37.3 billion was insured cash and $11 billion was deposit cash, while the remaining was money-market balance.
LPL Financial’s recruiting efforts and solid advisor productivity will aid advisory revenues. Also, it is expanding through strategic buyouts on the back of a solid balance sheet position.
Shares of LPL Financial have rallied 17.8% so far this year against a 26% decline witnessed by the industry.
LPLA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
A couple of other brokerage firms that have come out with monthly data are Interactive Brokers Group (IBKR - Free Report) and Charles Schwab (SCHW - Free Report) .
Interactive Brokers’ Electronic Brokerage segment announced performance metrics for May 2022. The segment (dealing with the clearance and settlement of trades for individual and institutional clients globally) reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential and a year-over-year basis.
Total client DARTs for the month were 2,297,000, up 4% from the April 2022 level and 2% year over year. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 274,000. The metric increased 2% sequentially but declined 27% from the prior-year period.
Schwab released its activity report for May 2022. Total client assets were $7.30 trillion, stable sequentially but down 1% from May 2021.
SCHW’s chief financial officer, Peter Crawford noted, “Schwab’s strong business momentum and rising interest rates are helping power our diversified financial model.”
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LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets were $1.12 trillion at the end of May 2022, increasing 2.2% from the prior month and 4.3% year over year. The rise in LPLA’s assets balance was mainly due to heightened market volatility and higher net new assets balance.
Of LPLA’s total assets, brokerage assets were $523.6 billion and advisory assets totaled $591.8 billion. Brokerage assets were up 3.7% and 2.6% from April 2022 and May 2021 levels, respectively. Advisory assets grew almost 1% from the prior month and 5.9% year over year.
LPL Financial’s total net new assets were $24.8 billion in the reported month. Net new assets were $1.9 billion and $6.1 billion in April 2022 and May 2021, respectively.
LPL Financial reported $67.1 billion of total client cash balance, up 8.6% from the April 2022-level and 40.4% from May 2021. Of the total balance, $37.3 billion was insured cash and $11 billion was deposit cash, while the remaining was money-market balance.
LPL Financial’s recruiting efforts and solid advisor productivity will aid advisory revenues. Also, it is expanding through strategic buyouts on the back of a solid balance sheet position.
Shares of LPL Financial have rallied 17.8% so far this year against a 26% decline witnessed by the industry.
LPLA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
A couple of other brokerage firms that have come out with monthly data are Interactive Brokers Group (IBKR - Free Report) and Charles Schwab (SCHW - Free Report) .
Interactive Brokers’ Electronic Brokerage segment announced performance metrics for May 2022. The segment (dealing with the clearance and settlement of trades for individual and institutional clients globally) reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential and a year-over-year basis.
Total client DARTs for the month were 2,297,000, up 4% from the April 2022 level and 2% year over year. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 274,000. The metric increased 2% sequentially but declined 27% from the prior-year period.
Schwab released its activity report for May 2022. Total client assets were $7.30 trillion, stable sequentially but down 1% from May 2021.
SCHW’s chief financial officer, Peter Crawford noted, “Schwab’s strong business momentum and rising interest rates are helping power our diversified financial model.”
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Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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