Printable August Monthly Template
LPL Financial Reports Monthly Activity for August 2023
LPL Financial Holdings, Inc.
SAN DIEGO, Sept. 21, 2023 (GLOBE NEWSWIRE) — LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for August 2023.
Total advisory and brokerage assets at the end of August were $1.27 trillion, a decrease of $7.1 billion, or 0.6%, compared to the end of July 2023.
Total net new assets for August were $13.1 billion, translating to a 12.3% annualized growth rate. Total net new advisory assets were $8.3 billion, translating to a 14.6% annualized growth rate.
Total client cash balances at the end of August were $48.2 billion, a decrease of $0.6 billion compared to the end of July 2023. Net buying in August was $12.7 billion.
(End of period $ in billions, unless noted)
August
July
Change
August
Change
2023
2023
M/M
2022
Y/Y
Advisory and Brokerage Assets
Advisory assets
680.8
684.4
(0.5%)
580.0
17.4%
Brokerage assets
590.5
594.0
(0.6%)
524.9
12.5%
Total Advisory and Brokerage Assets
1,271.3
1,278.4
(0.6%)
1,104.8
15.1%
Total Net New Assets
Net new advisory assets
8.3
7.7
n/m
4.2
n/m
Net new brokerage assets
4.7
3.4
n/m
5.5
n/m
Total Net New Assets
13.1
11.0
n/m
9.7
n/m
Organic Net New Assets
Net new organic advisory assets
8.3
7.7
n/m
4.2
n/m
Net new organic brokerage assets
4.7
3.4
n/m
5.5
n/m
Total Organic Net New Assets
13.1
11.0
n/m
9.7
n/m
Net brokerage to advisory conversions
0.9
0.9
n/m
0.9
n/m
Client Cash Balances
Insured cash account sweep
34.7
35.1
(1.1%)
47.1
(26.3%)
Deposit cash account sweep
9.1
9.1
—%
12.4
(26.6%)
Total Bank Sweep
43.8
44.3
(1.1%)
59.5
(26.4%)
Money market sweep
2.5
2.4
4.2%
3.2
(21.9%)
Total Client Cash Sweep Held by Third Parties
46.3
46.6
(0.6%)
62.7
(26.2%)
Client cash account
1.8
2.2
(18.2%)
3.1
(41.9%)
Total Client Cash Balances
48.2
48.8
(1.2%)
65.8
(26.7%)
Net buy (sell) activity
12.7
11.6
n/m
10.0
n/m
Market Drivers
S&P 500 Index (end of period)
4,508
4,589
(1.8%)
3,955
14.0%
Russell 2000 Index (end of period)
1,900
2,003
(5.1%)
1,844
3.0%
Fed Funds daily effective rate (average bps)
533
512
4.1%
233
128.8%
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.
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Contacts
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Media [email protected]
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 550 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
