LPL Financial Reports Monthly Activity for October 2017
17 November 2017 - 8:05AM
Leading retail investment advisory firm and independent
broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL
Financial Holdings Inc. (NASDAQ:LPLA), today released its monthly
activity report for October 2017.
Total brokerage and advisory assets served at the end of October
were approximately $566 billion, a 1.1 percent increase compared to
the end of September 2017. Total net new assets for October were
$0.6 billion. Total client cash sweep balances at the end of
October were $27.7 billion, a 2.1 percent decrease compared to
September 2017.
(End of Period $ in billions, unless
noted) |
October |
September |
% |
2017 |
2017 |
Change |
Assets
Served |
|
|
|
Brokerage Assets |
311.6 |
|
309.8 |
|
0.6 |
% |
Advisory Assets |
254.8 |
|
250.2 |
|
1.8 |
% |
Total Brokerage
and Advisory Assets |
566.4 |
|
560.0 |
|
1.1 |
% |
|
|
|
|
Net New Advisory
Assets |
1.7 |
|
1.7 |
|
n/m |
|
Net New Brokerage
Assets |
(1.1 |
) |
(0.8 |
) |
n/m |
|
Total Net New
Assets |
0.6 |
|
0.9 |
|
n/m |
|
|
|
|
|
Net Brokerage to
Advisory Conversions |
0.7 |
|
0.5 |
|
n/m |
|
|
|
|
|
Insured Cash Account
Balances |
21.5 |
|
21.9 |
|
(1.8 |
%) |
Deposit Cash Account
Balances |
3.9 |
|
4.1 |
|
(4.9 |
%) |
Money Market Account
Cash Balances |
2.3 |
|
2.3 |
|
0.0 |
% |
Total Cash
Sweep Balances |
27.7 |
|
28.3 |
|
(2.1 |
%) |
|
|
|
|
Market
Indices |
|
|
|
S&P 500 (end of
period) |
2,575 |
|
2,519 |
|
2.2 |
% |
Fed Funds Effective
Rate (average bps) |
116 |
|
116 |
|
n/m |
|
For additional information regarding these and other LPL
Financial business metrics, please refer to the company’s most
recent earnings release, which is available in the Press Releases
section of investor.lpl.com. About LPL
FinancialLPL Financial LLC, a wholly owned subsidiary of
LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the
retail financial advice market and provided service to
approximately $566 billion in brokerage and advisory assets as of
Oct. 31, 2017. LPL is one of the fastest growing RIA custodians and
the nation’s largest independent broker-dealer (based on total
revenues, Financial Planning magazine June 1996-2017), and the firm
and its financial advisors were ranked No. 1 in net customer
loyalty in a 2016 Cogent Reports™ study. The Company provides
proprietary technology, comprehensive clearing and compliance
services, practice management programs and training, and
independent research to more than 14,000 financial advisors and
over 700 financial institutions, enabling them to provide a range
of financial services including wealth management, retirement
planning, financial planning and other investment services to help
their clients turn life’s aspirations into financial realities. As
of Sept. 30, 2017, financial advisors associated with LPL served
more than 4 million client accounts across the U.S. as well as an
estimated 41,000 retirement plans with an estimated $137 billion in
retirement plan assets. Additionally, LPL supports approximately
3,700 financial advisors licensed and affiliated with insurance
companies with customized clearing, advisory platforms, and
technology solutions. LPL Financial and its affiliates have more
than 3,500 employees with primary offices in Boston, Charlotte, and
San Diego. For more information, visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial.
A registered investment advisor, Member FINRA/SIPC.
|
Investor Relations – Chris Koegel, (617) 897-4574 |
|
Media
Relations – Jeff Mochal, (704) 733-3589 |
|
|
investor.lpl.com/contactus.cfm |
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