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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.

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.

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