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LPL Financial's (LPLA) November Assets Rise on Solid Markets

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LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $873.3 billion at the end of November 2020 increased 8.1% from the prior month and 16.8% year over year. Of the total assets, brokerage assets were $431.3 billion and advisory assets totaled $442 billion.

The increase was mainly due to the impressive performance of the equity markets in the month of November. Notably, compared to October 2020, the S&P 500 Index rose 10.8%.

Total net new assets were $7.4 billion for the reported month. This compared favorably with the October 2020 level of $6.5 billion and $3.1 billion in November 2019.

Notably, in August 2020, LPL Financial completed the acquisition of San Diego, CA-based Lucia Securities, LLC as well as E.K. Riley Investments, LLC. The assets were onboarded in October and November, respectively. Thus, prior to the addition of assets, LPL Financial’s total net new assets were $4.9 billion for November 2020.

LPL Financial reported $48.1 billion of total client cash balance, down marginally from October 2020 but up 51.3% from November 2019. Of the total, $36.1 billion was insured cash and $8.3 billion was deposit cash, while the remaining was money market balance.

Shares of LPL Financial have gained 22.2% over the past six months compared with 27.3% growth recorded by the industry.





The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Brokerage Firms

Interactive Brokers Group (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for November 2020. The segment reported a substantial surge in Daily Average Revenue Trades (DARTs) on a year-over-year basis. Total client DARTs were 2,290,000, surging 179% from November 2019 and increasing 30% from October 2020.

Tradeweb Markets Inc. (TW - Free Report) reported total trading volume of $18.7 trillion in November 2020. Average daily volumes were $958.7 billion, up 37.2% year over year.

Charles Schwab’s (SCHW - Free Report) monthly metrics data for November 2020 includes data for the combined company formed after the acquisition of TD Ameritrade Holding concluded in October. Total client assets for November 2020 were $6.42 trillion, up 9% from October 2020 and 63% from November 2019. Client assets receiving ongoing advisory services were $3.17 trillion, up 8% from the prior month and 54% year over year.

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