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LPL Financial February Assets Decline on Lower Equity Markets
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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.
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.
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LPL Financial February Assets Decline on Lower Equity Markets
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.
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