LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $731.7 billion at the end of October 2019 grew 1.7% from the prior month and 12.7% year over year. Of the total brokerage and advisory assets, brokerage assets were $386.5 billion while advisory assets were $3415.3 billion.
Total net new assets were an inflow of $3.3 billion in October. This included $0.1 billion of outflows related to a large hybrid firm. Prior to the outflows, total net new assets were an inflow of $3.4 billion.
LPL Financial reported $31.6 billion of total client cash sweep balance, up 1.3% from September 2019 and 8.6% from October 2018. Of the total, $22.6 billion was insured cash and $4.6 billion was deposit cash while the remaining $4.4 billion was money market balance.
Backed by decent equity markets performance, trading activities are expected to improve. This, in turn, will support revenues.
Shares of LPL Financial have rallied 5.5% over the past six months, outperforming 1.2% growth for the industry.
LPL Financial currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Upcoming Release
E*TRADE Financial’s (ETFC - Free Report) Daily Average Revenue Trades (DARTs) for October were 290,578, up 9% from the previous month but down 1% year over year. Notably, derivatives comprised 36% of DARTs in October.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a fall in DARTs for October 2019. Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018.
Charles Schwab (SCHW - Free Report) is likely to release the monthly activity report for October in the coming days.
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