Back to top

Image: Bigstock

LPL Financial February Assets Decline on Lower Equity Markets

Read MoreHide Full Article

LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $736.6 billion at the end of February 2020 declined 4% from the prior month but increased 9% year over year. Of the total brokerage and advisory assets, brokerage assets were $380.9 billion, while advisory assets totaled $355.7 billion.

The sequential decline resulted from lower equity markets, including an 8.4% decline in the S&P 500 Index.

Total net new assets were an inflow of $4.8 billion in February.

LPL Financial reported $34.2 billion of total client cash sweep balance, up 2.1% from January 2020 and 11% from February 2019. Of the total, $24.8 billion was insured cash and $5.2 billion was deposit cash, while the remaining was money market balance.

Shares of LPL Financial have lost 17.7% over the past year compared with a 19.3% decline recorded by the industry.






The company 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 Brokerage Firms

Interactive Brokers (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for February 2020. The segment reported an increase in Daily Average Revenue Trades (DARTs). Total client DARTs were 1,346,000, rising 32% from January 2020 and 63% from February 2019.

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $69.3 billion as of Feb 29, 2020, down 5.5% from the prior-month level. Market depreciation of $4.4 billion and distributions of $194 million were partially offset by net inflows of $593 million.

Franklin Resources (BEN - Free Report) reported a fall in preliminary month-end AUM balance. The company’s AUM balance as of Feb 29, 2020, declined 4.6% sequentially to $656.5 billion. The decrease was largely due to sharp market declines.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>