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LPL Financial (LPLA) November Brokerage & Advisory Assets Up
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LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $747.8 billion at the end of November 2019 grew 2.2% from the prior month and 13.4% year over year. Of the total brokerage and advisory assets, brokerage assets were $392.9 billion while advisory assets were $354.9 billion.
Total net new assets were an inflow of $2.9 billion in November. 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 $2.7 billion.
LPL Financial reported $31.8 billion of total client cash sweep balance, up 0.6% from October 2019 and 6.4% from November 2018. Of the total, $22.9 billion was insured cash and $4.6 billion was deposit cash while the remaining $4.3 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 50.9% so far this year, outperforming 19.6% growth for the industry.
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
E*TRADE Financial reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The company’s DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives accounted for 33% of DARTs.
Charles Schwab (SCHW - Free Report) reported total client assets of $3.94 trillion in November 2019, up 2% from October and 15% from the year-ago month. Client assets receiving ongoing advisory services were $2.06 trillion, up 2% from the prior month and 15% year over year.
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LPL Financial (LPLA) November Brokerage & Advisory Assets Up
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $747.8 billion at the end of November 2019 grew 2.2% from the prior month and 13.4% year over year. Of the total brokerage and advisory assets, brokerage assets were $392.9 billion while advisory assets were $354.9 billion.
Total net new assets were an inflow of $2.9 billion in November. 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 $2.7 billion.
LPL Financial reported $31.8 billion of total client cash sweep balance, up 0.6% from October 2019 and 6.4% from November 2018. Of the total, $22.9 billion was insured cash and $4.6 billion was deposit cash while the remaining $4.3 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 50.9% so far this year, outperforming 19.6% 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 of Other Brokerage Firms
Tradeweb Markets Inc. (TW - Free Report) reported average daily volume of $693.0 billion for November. The figure was up 22% year over year.
E*TRADE Financial reported a sequential and year-over-year rise in Daily Average Revenue Trades (DARTs) for November. The company’s DARTs came in at 354,434, up 22% from the previous month and 32% year over year. Notably, derivatives accounted for 33% of DARTs.
Charles Schwab (SCHW - Free Report) reported total client assets of $3.94 trillion in November 2019, up 2% from October and 15% from the year-ago month. Client assets receiving ongoing advisory services were $2.06 trillion, up 2% from the prior month and 15% year over year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>