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LPL Financial (LPLA) Witnesses Improvement in May Metrics
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LPL Financial Holdings Inc.’s (LPLA - Free Report) activity report for May 2018 reflects improvement from the prior month. The figures in the reported month include assets from its acquisition of the broker/dealer network of National Planning Holdings, Inc.
Notably, the company projects total asset transfer from National Planning Holdings to be $70-$75 billion, driven by more direct business assets joining its platform.
LPL Financial recorded total brokerage and advisory assets of $659.5 billion at the end of May, up 1.1% from the previous month. Of the total brokerage and advisory assets, brokerage assets were $369.2 billion, while advisory assets came in at $290.3 billion. Excluding National Planning Holdings, total brokerage and advisory assets increased 1.2% from April 2018 to $587 billion.
LPL Financial reported $28.6 billion of total client cash sweep balances for May, down 1% from April. Of the total, $21.8 billion was insured cash, $4.0 billion was deposit cash, while the remaining $2.8 billion was money market cash balance.
With the gradual stabilization of equity markets, trading activities are anticipated to improve further. While dismal top-line growth remains a near-term concern, LPL Financial’s efforts to extend its offerings to all affiliated advisors are expected to help the company gain greater market share.
The company’s share price movement reflects investors’ optimism as the stock has rallied 71.7% over the past year, outperforming 21% growth registered by the industry.
Performance of Other Investment Brokers
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment, which deals with clearance and settlement of trades for individual and institutional clients globally, has reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for May 2018. Total client DARTs were 780,000, increasing 16% from May 2017, but down 4% from April 2017.
E*TRADE Financial reported a rise in DARTs for May 2018. According to its monthly market activity, the company’s DARTs came in at 253,649, up 1% from the prior month and 20% year over year. Notably, derivatives comprised 34% of DARTs in May.
The Charles Schwab Corporation’s (SCHW - Free Report) activity report for May reflects a year-over-year improvement. Total client assets were $3.4 trillion at the end of the month, increasing 13% from the year-ago quarter. Further, client assets receiving ongoing advisory services were $1.8 trillion, up 15% year over year.
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LPL Financial (LPLA) Witnesses Improvement in May Metrics
LPL Financial Holdings Inc.’s (LPLA - Free Report) activity report for May 2018 reflects improvement from the prior month. The figures in the reported month include assets from its acquisition of the broker/dealer network of National Planning Holdings, Inc.
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Notably, the company projects total asset transfer from National Planning Holdings to be $70-$75 billion, driven by more direct business assets joining its platform.
LPL Financial recorded total brokerage and advisory assets of $659.5 billion at the end of May, up 1.1% from the previous month. Of the total brokerage and advisory assets, brokerage assets were $369.2 billion, while advisory assets came in at $290.3 billion. Excluding National Planning Holdings, total brokerage and advisory assets increased 1.2% from April 2018 to $587 billion.
LPL Financial reported $28.6 billion of total client cash sweep balances for May, down 1% from April. Of the total, $21.8 billion was insured cash, $4.0 billion was deposit cash, while the remaining $2.8 billion was money market cash balance.
With the gradual stabilization of equity markets, trading activities are anticipated to improve further. While dismal top-line growth remains a near-term concern, LPL Financial’s efforts to extend its offerings to all affiliated advisors are expected to help the company gain greater market share.
LPL Financial currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The company’s share price movement reflects investors’ optimism as the stock has rallied 71.7% over the past year, outperforming 21% growth registered by the industry.
Performance of Other Investment Brokers
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment, which deals with clearance and settlement of trades for individual and institutional clients globally, has reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for May 2018. Total client DARTs were 780,000, increasing 16% from May 2017, but down 4% from April 2017.
E*TRADE Financial reported a rise in DARTs for May 2018. According to its monthly market activity, the company’s DARTs came in at 253,649, up 1% from the prior month and 20% year over year. Notably, derivatives comprised 34% of DARTs in May.
The Charles Schwab Corporation’s (SCHW - Free Report) activity report for May reflects a year-over-year improvement. Total client assets were $3.4 trillion at the end of the month, increasing 13% from the year-ago quarter. Further, client assets receiving ongoing advisory services were $1.8 trillion, up 15% year over year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>