We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LPL Financial's (LPLA) July Metrics Rise on Upbeat Markets
Read MoreHide Full Article
LPL Financial's (LPLA - Free Report) total brokerage and advisory assets were $1.28 trillion at the end of July 2023, increasing 3.1% from the prior month and 13.7% year over year. The rise in LPL Financial’s asset balance was mainly due to solid market performance.
Of LPLA’s total assets, brokerage assets were $594 billion, and advisory assets amounted to $684.4 billion. Brokerage assets were up 2.7% from June 2023 and 11.9% year over year. Advisory assets grew 3.4% from the prior month and 15.3% from July 2022.
LPL Financial’s total net new assets (NNAs) were $11 billion in the reported month. NNAs were $9.2 billion and $4.8 billion in June 2023 and July 2022, respectively.
The company reported $48.8 billion of total client cash balance, down 2.4% from June 2023 and 29.7% from July 2022. Of the total balance, $35.1 billion was insured cash and $9.1 billion was deposit cash, while the remaining was money-market balance.
LPL Financial’s recruiting efforts and solid advisor productivity will support advisory revenues. The company is expanding through strategic buyouts with a robust balance sheet position. However, the challenging operating backdrop is a major near-term headwind.
The stock has rallied 10.7% over the past three months, outperforming 8.7% growth witnessed in the industry.
A couple of other brokerage firms that have already come out with monthly data for July are Interactive Brokers Group (IBKR - Free Report) and Charles Schwab (SCHW - Free Report) .
Interactive Brokers Group’s Electronic Brokerage segment announced performance metrics for July 2023. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential and year-over-year basis.
IBKR’s total client DARTs for the month were 1,991,000, which grew 2% from the June 2023 level and 9% year over year.
Schwab released its monthly activity report for July 2023. Core NNAs of $13.7 billion reflected a decline of 59% from the previous month and 57% from the prior-year month.
SCHW’s total client assets were $8.24 trillion, up 3% from June 2023 and 13% from July 2022. Client assets receiving ongoing advisory services were $4.18 trillion, rising 3% from the prior month and 12% year over year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
LPL Financial's (LPLA) July Metrics Rise on Upbeat Markets
LPL Financial's (LPLA - Free Report) total brokerage and advisory assets were $1.28 trillion at the end of July 2023, increasing 3.1% from the prior month and 13.7% year over year. The rise in LPL Financial’s asset balance was mainly due to solid market performance.
Of LPLA’s total assets, brokerage assets were $594 billion, and advisory assets amounted to $684.4 billion. Brokerage assets were up 2.7% from June 2023 and 11.9% year over year. Advisory assets grew 3.4% from the prior month and 15.3% from July 2022.
LPL Financial’s total net new assets (NNAs) were $11 billion in the reported month. NNAs were $9.2 billion and $4.8 billion in June 2023 and July 2022, respectively.
The company reported $48.8 billion of total client cash balance, down 2.4% from June 2023 and 29.7% from July 2022. Of the total balance, $35.1 billion was insured cash and $9.1 billion was deposit cash, while the remaining was money-market balance.
LPL Financial’s recruiting efforts and solid advisor productivity will support advisory revenues. The company is expanding through strategic buyouts with a robust balance sheet position. However, the challenging operating backdrop is a major near-term headwind.
The stock has rallied 10.7% over the past three months, outperforming 8.7% growth witnessed in the industry.
Image Source: Zacks Investment Research
LPLA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Competitive Landscape
A couple of other brokerage firms that have already come out with monthly data for July are Interactive Brokers Group (IBKR - Free Report) and Charles Schwab (SCHW - Free Report) .
Interactive Brokers Group’s Electronic Brokerage segment announced performance metrics for July 2023. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential and year-over-year basis.
IBKR’s total client DARTs for the month were 1,991,000, which grew 2% from the June 2023 level and 9% year over year.
Schwab released its monthly activity report for July 2023. Core NNAs of $13.7 billion reflected a decline of 59% from the previous month and 57% from the prior-year month.
SCHW’s total client assets were $8.24 trillion, up 3% from June 2023 and 13% from July 2022. Client assets receiving ongoing advisory services were $4.18 trillion, rising 3% from the prior month and 12% year over year.