LPL Financial Reports Monthly Activity for July 2021

SAN DIEGO, Aug. 19, 2021 (Globe NEWSWIRE) — LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its every month activity report for July 2021.

Overall advisory and brokerage property at the end of July had been around $one.13 trillion, an maximize of $seventeen.6 billion, or one.6%, when compared to the end of June 2021.

Overall net new property for July had been $ten. billion(one), translating to an 11.5%(2) annualized growth fee. This bundled $3. billion of brokerage property from M&T Financial institution that onboarded in July(3). Overall net new advisory property had been $5.7 billion, translating to a 12.7%(2) annualized growth fee.

Overall shopper money balances at the end of July had been $48.5 billion, roughly flat from the end of June 2021. Internet shopping for in July was $6.5 billion.

(Conclude of Time period $ in billions, except observed) July June Modify July Modify
2021 2021 M/M 2020 Y/Y
Advisory and Brokerage Property(4)          
Advisory Property 588.4 577.6 one.nine% 392.7 49.eight%
Brokerage Property 541.4 534.7 one.3% 399.2 35.6%
Overall Advisory and Brokerage Property one,129.nine one,112.3 one.6% 791.nine 42.7%
           
Internet New Property(one)          
Internet New Advisory Property 5.7 11.2 n/m 2.nine n/m
Internet New Brokerage Property 4.3 fourteen.eight n/m . n/m
Overall Internet New Property(5) ten. 26. n/m 2.nine n/m

 

Internet Brokerage to Advisory Conversions .eight .nine n/m .7 n/m
           
Client Funds Balances          
Insured Funds Account Balances 34.4 34.one .nine% 33.2 3.6%
Deposit Funds Account Balances 7.nine 7.6 3.nine% 7.6 3.nine%
Overall Financial institution Sweep Balances 42.2 41.7 one.2% forty.eight 3.4%
Funds Sector Account Funds Balances 4.3 5. (fourteen.%) one.6 168.eight%
Purchased Funds Sector Cash one.nine one.7 11.eight% 2.eight (32.one%)
Overall Funds Sector Balances 6.3 6.7 (6.%) 4.4 43.2%
Overall Client Funds Balances 48.5 48.4 .2% forty five.one 7.5%

 

Internet Acquire (Offer) Exercise 6.5 6. n/m 2.nine n/m
           
Sector Indices          
S&P five hundred (end of period of time) 4,395 4,298 2.3% 3,271 34.4%
Fed Cash Productive Amount (average bps) ten eight 25.% nine 11.one%

 

(one)   July Internet New Property do not involve final results from Waddell & Reed advisors, as these types of advisors onboarded onto LPL’s system near to the end of July 2021.
(2)   Waddell & Reed asset and net new asset totals had been not bundled in the calculation of July net new asset annualized growth fee.
(3)   As of the end of July, $18.6 billion of shopper property have onboarded from M&T Financial institution out of a whole of $21.nine billion, together with $fifteen.6 billion of shopper property that had been onboarded in June and $3. billion of shopper property that had been onboarded in July.
(4)   Assumes ~98% asset retention of Waddell & Reed whole property at the end of June 2021 and ~2% of whole property will not transform. This is equivalent to $68.nine billion of whole property, of which $33.5 billion had been advisory and $35.4 billion had been brokerage.
(5)   Overall Internet New Property consist of asset inflows minus outflows, as well as dividends, as well as interest, minus advisory service fees.
     
    Notice: In July 2021, around 280 affiliate advisors with Waddell & Reed became economical pros with LPL Financial on onboarding onto LPL’s system and will be reflected as net new advisors in Q3 2021.

For supplemental information and facts relating to these and other LPL Financial company metrics, please refer to the Company’s most the latest earnings announcement, which is readily available in the quarterly final results part of investor.lpl.com.

About LPL Financial
LPL Financial was launched on the theory that the firm should really do the job for the advisor, and not the other way all-around. Right now, LPL is a leader* in the markets we serve, supporting more than 19,000 economical advisors, and around 800 institution-based investment systems and 450 impartial RIA firms nationwide. We are steadfast in our commitment to the advisor-centered design and the perception that Individuals deserve access to aim direction from a economical advisor. At LPL, independence implies that advisors have the independence they deserve to decide on the company design, companies, and technological innovation assets that allow them to operate their fantastic observe. And they have the independence to deal with their shopper associations, for the reason that they know their shoppers best. Just set, we just take care of our advisors, so they can just take care of their shoppers.

* Leading RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report)
No. one Impartial Broker-Vendor in the U.S. (Primarily based on whole revenues, Financial Arranging magazine June 1996-2020)
No. one company of 3rd-occasion brokerage companies to banking institutions and credit rating unions (2019-2020 Kehrer Bielan Investigate & Consulting Once-a-year TPM Report)
Fortune five hundred as of June 2021

Securities and Advisory companies provided by way of LPL Financial LLC, a registered investment advisor. Member FINRA/SIPC.

All through this communication, the conditions “financial advisors” and “advisors” are applied to refer to registered reps and/or investment advisor reps affiliated with LPL Financial LLC. We routinely disclose information and facts that may be important to shareholders in the “Investor Relations” or “Push Releases” part of our web site.

Ahead-On the lookout Statements
Statements in this press launch relating to the variety of advisors LPL expects to replicate as net new advisors in the 3rd quarter of 2021, and any other statements that are not linked to current details or latest situations or that are not purely historic, represent ahead-wanting statements. These ahead-wanting statements are based on the Company’s historic performance and its designs, estimates and expectations as of August 19, 2021. Ahead-wanting statements are not assures that the foreseeable future final results, designs, intentions or expectations expressed or implied will be achieved. Issues topic to ahead-wanting statements entail recognised and mysterious threats and uncertainties, together with financial, legislative, regulatory, aggressive and other elements, which may cause true economical or functioning final results, levels of activity or the timing of occasions to be materially diverse from these expressed or implied by ahead-wanting statements. Vital elements that could cause or contribute to these types of variations involve the determination of not long ago onboarded associates from Waddell & Reed to terminate their affiliation with LPL Financial, as effectively as the other elements set forth in Component I, “Item 1A. Threat Factors” in the Company’s 2020 Once-a-year Report on Form ten-K, as may be amended or up-to-date in the Company’s Quarterly Experiences on Form ten-Q or other filings with the Securities and Exchange Commission. Other than as required by legislation, the Corporation specially disclaims any obligation to update any ahead-wanting statements as a outcome of developments taking place after the date of this press launch, even if its estimates alter, and you should really not count on statements contained herein as symbolizing the Company’s sights as of any date subsequent to the date of this press launch.

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Lauren Hoyt-Williams, (980) 321-1232
investor.lpl.com/make contact with-us

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