SAN DIEGO, Feb. 24, 2020 (GLOBE NEWSWIRE) -- 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 January 2020.
Total brokerage and advisory assets served at the end of January were approximately $767 billion, a $3 billion increase, or 0.3%, compared to the end of December 2019.
Total net new assets for January were an inflow of $3.4 billion, translating to a 5.3% annualized growth rate. Total net new advisory assets were $4.0 billion, translating to a 13.2% annualized growth rate.
Total client cash balances at the end of January were $33.5 billion, a $0.2 billion decrease compared to December 2019. Net buying in January was $4.5 billion.
| (End of Period $ in billions, unless noted) | January | December | Change | January | Change | |||||
| 2020 | 2019 | M/M | 2019 | Y/Y | ||||||
| Assets Served | ||||||||||
| Advisory Assets | 369.2 | 365.8 | 0.9% | 298.5 | 23.7% | |||||
| Brokerage Assets | 397.7 | 398.6 | (0.2)% | 362.3 | 9.8% | |||||
| Total Brokerage and Advisory Assets | 767.0 | 764.4 | 0.3% | 660.8 | 16.1% | |||||
| Net New Assets | ||||||||||
| Net New Advisory Assets | 4.0 | 3.8 | n/m | 0.9 | n/m | |||||
| Net New Brokerage Assets | (0.6) | (0.9) | n/m | (0.2) | n/m | |||||
| Total Net New Assets | 3.4 | 2.9 | n/m | 0.7 | n/m | |||||
| Net Brokerage to Advisory Conversions | 0.9 | 0.6 | n/m | 0.3 | n/m | |||||
| Client Cash Balances | ||||||||||
| Insured Cash Account Balances | 24.4 | 24.4 | 0.0% | 22.9 | 6.6% | |||||
| Deposit Cash Account Balances | 4.8 | 5.0 | (4.0)% | 4.5 | 6.7% | |||||
| Total Insured Sweep Balances | 29.2 | 29.4 | (0.7)% | 27.4 | 6.6% | |||||
| Money Market Sweep Accounts | 1.7 | 1.9 | (10.5)% | 4.8 | (64.6)% | |||||
| Purchased Money Market Funds | 2.5 | 2.4 | 4.2% | n/a | n/a | |||||
| Total Money Market Balances | 4.2 | 4.3 | (2.3)% | 4.8 | (12.5)% | |||||
| Total Client Cash Balances | 33.5 | 33.7 | (0.6)% | 32.2 | 4.0% | |||||
| Net Buy (Sell) Activity | 4.5 | 3.2 | n/m | 5.0 | n/m | |||||
| Market Indices | ||||||||||
| S&P 500 (end of period) | 3,226 | 3,231 | (0.2)% | 2,704 | 19.3% | |||||
| Fed Funds Effective Rate (average bps) | 155 | 155 | 0.0% | 240 | (35.4)% |
For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.
About LPL Financial
LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation’s largest independent broker/dealer(+). We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
+ Based on total revenues, Financial Planning magazine June 1996-2019.
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/contact-us |