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LPL Financial's (LPLA) July Metrics Up on Robust Markets
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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 July 2022, increasing 5.6% from the prior month but falling 0.5% year over year. The rise in LPLA’s assets balance from the June level was mainly driven by upbeat market performance.
Of LPLA’s total assets, brokerage assets were $530.9 billion and advisory assets totaled $593.4 billion. Brokerage assets were up 4.9% from June 2022 but declined 1.9% year over year. Advisory assets grew 6.2% from the prior month and 0.8% year over year.
LPL Financial’s total net new assets were $4.8 billion in the reported month. Net new assets were $10.5 billion and $10 billion in June 2022 and July 2021, respectively.
LPL Financial reported $69.41 billion of total client cash balance, down 0.3% from the June 2022-level but jumped 44.9% from July 2021. Of the total balance, $41.9 billion was insured cash and $12.3 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.
The stock has surged 44.8% so far this year against a 9.3% decline witnessed by the industry.
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 July 2022. The segment (dealing with the clearance and settlement of trades for individual and institutional clients globally) reported a decline in client Daily Average Revenue Trades (DARTs) both on a sequential and a year-over-year basis.
Total client DARTs for the month were 1,823,000, down 10% from the June 2022 level and 23% year over year. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 210. The metric decreased 11% sequentially and 44% from the prior-year period.
Schwab released its activity report for July 2022. Total client assets were $7.3 trillion, up 7% from June 2022 and down 4% from July 2021.
Further, SCHW’s core net new assets were $31.5 billion in the reported month. This compared with net new assets of $40.6 billion in June 2022 and $44.3 billion in July 2021. Client assets receiving ongoing advisory services were $3.74 trillion, up 6% from the prior month but down 1% year over year.
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LPL Financial's (LPLA) July Metrics Up on Robust Markets
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets were $1.12 trillion at the end of July 2022, increasing 5.6% from the prior month but falling 0.5% year over year. The rise in LPLA’s assets balance from the June level was mainly driven by upbeat market performance.
Of LPLA’s total assets, brokerage assets were $530.9 billion and advisory assets totaled $593.4 billion. Brokerage assets were up 4.9% from June 2022 but declined 1.9% year over year. Advisory assets grew 6.2% from the prior month and 0.8% year over year.
LPL Financial’s total net new assets were $4.8 billion in the reported month. Net new assets were $10.5 billion and $10 billion in June 2022 and July 2021, respectively.
LPL Financial reported $69.41 billion of total client cash balance, down 0.3% from the June 2022-level but jumped 44.9% from July 2021. Of the total balance, $41.9 billion was insured cash and $12.3 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.
The stock has surged 44.8% so far this year against a 9.3% decline witnessed by the industry.
Image Source: Zacks Investment Research
LPLA currently carries a Zacks Rank #2 (Buy). 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 July 2022. The segment (dealing with the clearance and settlement of trades for individual and institutional clients globally) reported a decline in client Daily Average Revenue Trades (DARTs) both on a sequential and a year-over-year basis.
Total client DARTs for the month were 1,823,000, down 10% from the June 2022 level and 23% year over year. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 210. The metric decreased 11% sequentially and 44% from the prior-year period.
Schwab released its activity report for July 2022. Total client assets were $7.3 trillion, up 7% from June 2022 and down 4% from July 2021.
Further, SCHW’s core net new assets were $31.5 billion in the reported month. This compared with net new assets of $40.6 billion in June 2022 and $44.3 billion in July 2021. Client assets receiving ongoing advisory services were $3.74 trillion, up 6% from the prior month but down 1% year over year.