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LPL Financial (LPLA) May Assets Rise on Solid Equity Markets
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LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $745.9 billion at the end of May 2020 grew 3.9% from the prior month and 10.1% year over year. Of the total assets, brokerage assets were $381 billion and advisory assets totaled $364.9 billion.
The rise resulted from improved equity markets, including a 4.5% rally in the S&P 500 Index from the prior month.
Total net new assets were $4.2 billion in May. This compared favorably with $3.4 billion in April 2020 and $2 billion in May 2019. Of the total net new assets, $3.1 billion was total net new advisory assets.
LPL Financial reported $46.2 billion of total client cash balance, down 1.7% from April 2020 but up 55% from May 2019. Of the total, $33.5 billion was insured cash and $8 billion was deposit cash, while the remaining was money market balance.
Shares of LPL Financial have jumped 109.9% over the past three months, outperforming 35.8% rally recorded by the industry.
Interactive Brokers Group (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for May 2020. Total client Daily Average Revenue Trades (DARTs) were 1,720,000, surging 84% from May 2019 but declining 4% from April 2020.
Charles Schwab (SCHW - Free Report) recorded net new assets of $97.5 billion for May 2020. This included inflows worth $79.9 billion related to the acquisition of USAA Investment Management Company. Core net assets were $17.6 billion, up 15% from the prior month and 2% year over year.
E*TRADE Financial reported a rise in DARTs for May. According to its monthly-market activity, the company’s DARTs came in at 982,000, up 6% from the previous month and more than 200% year over year. Notably, derivatives comprised 26% of DARTs in the reported month.
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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LPL Financial (LPLA) May Assets Rise on Solid Equity Markets
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $745.9 billion at the end of May 2020 grew 3.9% from the prior month and 10.1% year over year. Of the total assets, brokerage assets were $381 billion and advisory assets totaled $364.9 billion.
The rise resulted from improved equity markets, including a 4.5% rally in the S&P 500 Index from the prior month.
Total net new assets were $4.2 billion in May. This compared favorably with $3.4 billion in April 2020 and $2 billion in May 2019. Of the total net new assets, $3.1 billion was total net new advisory assets.
LPL Financial reported $46.2 billion of total client cash balance, down 1.7% from April 2020 but up 55% from May 2019. Of the total, $33.5 billion was insured cash and $8 billion was deposit cash, while the remaining was money market balance.
Shares of LPL Financial have jumped 109.9% over the past three months, outperforming 35.8% rally recorded by the industry.
The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Brokerage Firms
Interactive Brokers Group (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for May 2020. Total client Daily Average Revenue Trades (DARTs) were 1,720,000, surging 84% from May 2019 but declining 4% from April 2020.
Charles Schwab (SCHW - Free Report) recorded net new assets of $97.5 billion for May 2020. This included inflows worth $79.9 billion related to the acquisition of USAA Investment Management Company. Core net assets were $17.6 billion, up 15% from the prior month and 2% year over year.
E*TRADE Financial reported a rise in DARTs for May. According to its monthly-market activity, the company’s DARTs came in at 982,000, up 6% from the previous month and more than 200% year over year. Notably, derivatives comprised 26% of DARTs in the reported month.
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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