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LPL Financial Reports Monthly Activity for January 2024

SAN DIEGO, Feb. 22, 2024 (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 January 2024.

Total advisory and brokerage assets at the end of January were $1.36 trillion, an increase of $7.7 billion, or 0.6%, compared to the end of December 2023.

Total net new assets for January were $2.0 billion, translating to a 1.8% annualized growth rate. Total net new advisory assets were $2.4 billion, translating to a 3.9% annualized growth rate.

Total client cash balances at the end of January were $47.3 billion, a decrease of $1.2 billion compared to the end of December 2023. Net buying in January was $12.0 billion.

(End of period $ in billions, unless noted)

2024 2023M/M2023Y/Y
Advisory and Brokerage Assets     
Advisory assets740.7 735.80.7%615.220.4%
Brokerage assets621.1 618.20.5%549.713.0%
Total Advisory and Brokerage Assets1,361.8 1,354.10.6%1,164.916.9%
Total Net New Assets     
Net new advisory assets2.4 8.1n/m4.0n/m
Net new brokerage assets(0.4)1.1n/m4.6n/m
Total Net New Assets2.0 9.2n/m8.6n/m
Organic Net New Assets     
Net new organic advisory assets2.4 8.1n/m3.1n/m
Net new organic brokerage assets(0.4)1.1n/m2.2n/m
Total Organic Net New Assets2.0 9.2n/m5.4n/m
Net brokerage to advisory conversions1.0 1.0n/m0.6n/m
Client Cash Balances      
Insured cash account sweep33.7 34.5(2.3%)43.5(22.5%)
Deposit cash account sweep8.9 9.3(4.3%)10.8(17.6%)
Total Bank Sweep42.6 43.8(2.7%)54.3(21.5%)
Money market sweep2.4 2.4%2.9(17.2%)
Total Client Cash Sweep Held by Third Parties45.0 46.2(2.6%)57.2(21.3%)
Client cash account2.3 2.3%2.5(8.0%)
Total Client Cash Balances47.3 48.5(2.5%)59.7(20.8%)
Net buy (sell) activity12.0 10.8n/m11.1n/m
Market Drivers     
S&P 500 Index (end of period)4,846 4,7701.6%4,07718.9%
Russell 2000 Index (end of period)1,947 2,027(3.9%)1,9320.8%
Fed Funds daily effective rate (average bps)533 533%43323.1%

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


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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 570 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.

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