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LPL Financial (LPLA) Reports Mixed Metrics Data for April
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LPL Financial Holdings Inc.’s (LPLA - Free Report) subsidiary LPL Financial LLC reported monthly activity for Apr 2017. Total brokerage and advisory assets were $534.8 billion at the end of the month, up 0.8% from the previous month.
Of these, brokerage assets were $305.9 billion, while advisory assets were $228.9 billion, as of Apr 30, 2017.
Also, LPL Financial reported $29.0 billion of total client cash sweep balances for the month, down 3.3% from the prior month. Of the total cash balance, $21.4 billion was insured cash, $3.9 billion was deposit cash and $3.7 billion was money market cash.
With increasing optimism in the U.S economy and gradual stabilization in the global equity markets, trading activities are expected to improve further. Also, LPL Financial has been expanding its offerings to all affiliated advisors. As a result, the company could gain greater market share.
The shares of the company rallied 57.1% over the past one year, outperforming 29.8% gain of the Zacks categorized Investment Brokers industry.
Among other brokerage stocks, E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Apr 2017. According to its monthly market activity, the company’s DARTs were 196,022, up 23% year over year.
The Charles Schwab Corporation’s (SCHW - Free Report) total client assets were $2.95 trillion at the end of Apr 2017, up 14% year over year. Further, client assets receiving ongoing advisory services were $1.50 trillion, up 16% year over year.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 645,000 for Apr 2017, down 3% from Apr 2016. However, total customer accounts were 398,000, up 18% year over year.
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LPL Financial (LPLA) Reports Mixed Metrics Data for April
LPL Financial Holdings Inc.’s (LPLA - Free Report) subsidiary LPL Financial LLC reported monthly activity for Apr 2017. Total brokerage and advisory assets were $534.8 billion at the end of the month, up 0.8% from the previous month.
Of these, brokerage assets were $305.9 billion, while advisory assets were $228.9 billion, as of Apr 30, 2017.
Also, LPL Financial reported $29.0 billion of total client cash sweep balances for the month, down 3.3% from the prior month. Of the total cash balance, $21.4 billion was insured cash, $3.9 billion was deposit cash and $3.7 billion was money market cash.
With increasing optimism in the U.S economy and gradual stabilization in the global equity markets, trading activities are expected to improve further. Also, LPL Financial has been expanding its offerings to all affiliated advisors. As a result, the company could gain greater market share.
The shares of the company rallied 57.1% over the past one year, outperforming 29.8% gain of the Zacks categorized Investment Brokers industry.
LPL Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Investment Brokers
Among other brokerage stocks, E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Apr 2017. According to its monthly market activity, the company’s DARTs were 196,022, up 23% year over year.
The Charles Schwab Corporation’s (SCHW - Free Report) total client assets were $2.95 trillion at the end of Apr 2017, up 14% year over year. Further, client assets receiving ongoing advisory services were $1.50 trillion, up 16% year over year.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 645,000 for Apr 2017, down 3% from Apr 2016. However, total customer accounts were 398,000, up 18% year over year.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>