SAN DIEGO, Oct. 22, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Kacy Walker, MSFS, AIF®, CPFA®, has launched Kinetic Wealth through affiliation with LPL Financial’s supported independence model, LPL Independent Advisor Network. Walker joins LPL from Cetera and reported serving approximately $300 million* across retirement plans and individual wealth management relationships, including retirees and business owners.
Walker grew up in Madera, California, on her grandmother’s property, Nicolas Ranch, where the surrounding countryside helped shape her grounded perspective and appreciation for community. A lifelong learner, she graduated as valedictorian of Madera South High School and attended Fresno State. While completing her general education studies, she worked with children on the autism spectrum using applied behavior analysis. Looking back, Walker sees that experience as an early part of her calling to understand and serve families and people from all walks of life.
Education remained a priority for Walker, who ultimately earned a bachelor’s degree in business administration from California State University, East Bay, with a focus on corporate management and finance. She later returned to the Fresno area to be closer to home and welcomed her daughter, Kenady. Determined to begin a career in financial services, Walker joined a broker-dealer as a receptionist and quickly advanced to an analyst position. Over the next year and a half, she worked full time, raised her daughter and studied for the Series 7 examination.
After earning her Series 7 registration, Walker set out to find mentors who would teach her not simply how to sell or manage a book of business, but how to truly serve people. She found that guidance from two advisors, who helped shape her relationship-driven approach and prepared her for the next chapter of her career.
Kinetic Wealth’s mission is rooted in understanding people before offering solutions. Just as Walker learned years ago while working closely with families, meaningful guidance begins by listening—learning what questions people are facing, where they need support and how their goals, priorities and way of life shape their financial decisions. From there, the firm works alongside each client to build a personalized financial plan, put it into action and monitor it over time as life and needs evolve.
“Every relationship starts with listening,” Walker said. “Before we talk about solutions, we want to understand what someone is navigating, where they need guidance and what is happening in their life. We learn how they make decisions, what matters most to them and what they want their money to help them accomplish. Then we build the plan together, explain each step in clear, everyday language and continue to monitor and adjust it as their life evolves.”
Why Kinetic Wealth Made the Move to LPL — and Why Now
As Walker considered the next chapter of the firm, preserving independence was a central priority. She chose to affiliate with LPL's Independent Advisor Network to maintain the flexibility to build services around client needs, and to leverage LPL’s resources and support to help her execute on the firm’s growth plans.
LPL’s Independent Advisor Network empowers advisors with an integrated support model that brings together a connected peer community, experienced guidance and dedicated regional teams. Advisors benefit from hands-on transition execution, growth coaching and consulting across key areas of the business, and ongoing operational, compliance and administrative support, enabling firms to move faster, operate more efficiently and grow on their own terms.
“I wanted to sustain our independence and build the firm around what our clients need,” Walker said. “LPL and the Independent Advisor Network offered the right path, with the resources and specialized support to help us carry forward the relationships we value, expand how we serve people and turn our goals for Kinetic Wealth into action.”
The firm name reflects Walker’s belief that financial planning is a journey rather than a singular, static event. Kinetic Wealth is designed to help clients understand how individual decisions create movement across their financial lives, from foundational steps such as budgeting and retirement preparation to investment planning, debt management and estate planning considerations.
“Kinetic means movement, and every financial decision can move someone closer to the life they want to build,” Walker said. “Our purpose is to serve as an advocate and resource, helping people create a strong foundation and move forward with greater clarity and confidence, wherever they are in their journey.”
LPL’s Chief Growth Officer Marc Cohen said, “We welcome Kinetic Wealth to the LPL community. Kacy’s commitment to listening, education and thoughtful, client-centered guidance aligns with LPL’s purpose — which is to empower advisors with the independence, technology and support they need to build thriving practices. We look forward to supporting Kacy as she expands her reach and brings her vision for Kinetic Wealth to life.”
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Kinetic Wealth and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
LPL Financial Holdings Inc. (LPLA - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on October 27, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $5.69 per share in its upcoming report, which represents a year-over-year change of +9.4%.
Revenues are expected to be $5.35 billion, up 18.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.54% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for LPL Financial?For LPL Financial, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that LPL Financial will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that LPL Financial would post earnings of $5.39 per share when it actually produced earnings of $5.84, delivering a surprise of +8.35%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
LPL Financial doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
SAN DIEGO, Oct. 14, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the financial professionals of Prince Financial Services have joined LPL Financial's broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. The Seattle-based firm reported serving approximately $1 billion in advisory, brokerage and retirement plan assets* and joins LPL from Northwestern Mutual.
Founded by Julie Prince and Dave Burnett, Prince Financial Services has evolved from a collection of independent financial services into a collaborative ensemble serving retirees, business owners, high-net-worth families and technology professionals across the Pacific Northwest and beyond. The firm is led by partners Julie Prince, CLU®, Dave Burnett, Cade Mossman, CFP®, Conner Gehring, CFP®, ChFC®, CLU®, CLTC® and David DeYoung.
At the core of the firm's philosophy is a planning-first approach designed to help clients work toward "financial freedom now and forever." Every client relationship begins with a comprehensive financial plan that serves as the foundation for investment decisions, wealth management strategies and long-term financial guidance. Advisors regularly update those plans as clients' circumstances evolve and maintain an open-door approach focused on accessibility, proactive communication and personalized service.
"We're planners first and foremost," said Mossman. "Everything we do starts with understanding where a client wants to go and creating a roadmap to help them get there. Whether we're working with retirees, business owners, entrepreneurs or technology professionals, our goal is to provide clarity and confidence through thoughtful planning and advice that puts the client's interests first."
The team differentiates itself through a deeply collaborative culture that extends throughout the organization. Advisors intentionally build relationships across one another's client bases, while operations and planning professionals are encouraged to develop meaningful client connections. This team-oriented structure helps ensure continuity, responsiveness and a consistent client experience.
"We've worked hard to build a culture where every member of the firm feels invested in every client relationship," Mossman said. "Our clients know they have an entire team behind them, not just a single advisor. That culture of collaboration allows us to deliver a higher level of service while ensuring our clients always have qualified professionals they can turn to for guidance."
Why Prince Financial Services Chose LPL
As the firm evaluated its future and explored affiliation options, the team conducted an extensive review of the wealth management landscape, considering a wide range of independent and broker-dealer platforms. Ultimately, Prince Financial Services selected LPL for its technology capabilities, advisor-focused service model and long-term commitment to innovation.
"We spent nearly a year researching potential partners and met with numerous firms before making our decision," Mossman said. "LPL stood out because of its continued investment in technology and its commitment to helping advisors operate at their highest level. We believe those capabilities will help us serve our clients more efficiently today while positioning our firm for continued growth and success in the years ahead."
Marc Cohen, Chief Growth Officer at LPL Financial, said, "Prince Financial Services has built an impressive business by staying true to two principles: thoughtful financial planning and a highly collaborative approach to serving clients. They've created a culture where clients benefit from the collective knowledge and relationships of the entire team, which has helped them build deep trust and lasting connections across generations. We are honored they chose LPL for this next chapter and look forward to supporting their continued success."
Prince Financial Services is supported by a multidisciplinary administrative team that includes Thomas Evans, Laura Mount, Sarah Fleming, Shanna Johnson, Anastasia Potapova, Lindsay Rudolph, Kate Foley, Alyssa Smith, Roxanne Reid and Hannah Johnston.
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Prince Financial Services and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Perpetual Ltd trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,892 shares of the financial services provider’s stock after selling 7,576 shares during the period. Perpetual Ltd owned about 0.14% of LPL Financial worth $34,828,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. raised its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares during the period. Reflection Asset Management bought a new position in shares of LPL Financial during the 4th quarter valued at about $50,000. Versant Capital Management Inc lifted its holdings in shares of LPL Financial by 79.0% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 83 shares in the last quarter. Abound Financial LLC grew its position in shares of LPL Financial by 9,550.0% in the 1st quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 191 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of LPL Financial in the 2nd quarter valued at approximately $59,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling In other LPL Financial news, insider Katharine Reeping sold 440 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $347.88, for a total value of $153,067.20. Following the completion of the transaction, the insider directly owned 1,774 shares in the company, valued at $617,139.12. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Gates sold 4,119 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the transaction, the director directly owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,867 shares of company stock valued at $2,079,664. 0.60% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades A number of research firms recently issued reports on LPLA. TD Cowen increased their target price on LPL Financial from $377.00 to $380.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group cut their price target on shares of LPL Financial from $391.00 to $390.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Morgan Stanley lifted their price target on shares of LPL Financial from $387.00 to $393.00 and gave the company an “overweight” rating in a research note on Friday. Capital One Financial set a $370.00 price target on shares of LPL Financial in a report on Tuesday, October 6th. Finally, Truist Financial began coverage on shares of LPL Financial in a research report on Tuesday, September 1st. They set a “hold” rating and a $389.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and an average price target of $411.88. Read Our Latest Research Report on LPLA
LPL Financial Stock Performance LPLA opened at $330.12 on Tuesday. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.56 and a beta of 0.53. The business’s 50-day moving average price is $345.31 and its two-hundred day moving average price is $319.47. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the firm earned $4.51 earnings per share. LPL Financial’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.
LPL Financial Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, August 14th. LPL Financial’s dividend payout ratio is currently 9.57%.
LPL Financial Company Profile (Free Report)
LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.
LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.
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SAN DIEGO, Oct. 13, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Nick Economos, CFP®, CPFA®, CEPA®, CRPC®*, has launched Economos Private Wealth through affiliation with LPL Financial’s supported independence model, LPL Independent Advisor Network. He reported serving approximately $580 million in advisory and brokerage assets** and joins LPL from Merrill Lynch.
Based outside of San Francisco in Danville, Calif., Nick Economos brings more than 25 years of industry experience serving corporate executives, business owners and multigenerational families. Following in the footsteps of his father, who founded The Economos Group at Merrill Lynch in 1994, Nick joined the business in 2000 and spent the next quarter century helping clients navigate complex financial decisions and pursue their long-term goals.
Economos Private Wealth takes a holistic approach to wealth management, serving as the “CFO for successful families.” The team works closely with clients to develop strategic financial plans that help coordinate the many financial decisions that come with their careers, businesses and families. Each plan is regularly reviewed and refined as clients' circumstances and objectives evolve.
“We view our role as being the CFO for successful families. Just as a CFO helps coordinate every aspect of a company’s financial life, we help clients bring all the moving pieces of their financial lives together through a coordinated strategy,” Economos said. “Every family has different goals, priorities and challenges, so we start by listening and building a plan tailored to what matters most. That plan serves as a guide, but just like a GPS, the directions evolve as life changes. Our goal is to help clients move forward with confidence, knowing they have an experienced partner helping navigate the journey.”
Why Economos Private Wealth Made the Move to LPL — and Why Now
Economos Private Wealth chose to affiliate with LPL Independent Advisor Network to gain greater independence while maintaining access to the scale, resources and infrastructure needed to serve sophisticated clients. Guided by a commitment to do what is best for clients, the team saw LPL as a way to gain the flexibility of independence while still accessing the scale and resources of one of the industry's largest wealth management organizations.
The practice is supported by a dedicated team that includes Heather Stickney and Tyler Economos. Each team member brings a different set of skills, allowing them to focus on what they do best while working together to provide clients with a high level of personal attention and service.
Through LPL Independent Advisor Network, advisors operate within an integrated support model that brings together a connected peer community, experienced guidance and dedicated regional teams. Advisors benefit from hands-on transition execution, growth coaching and consulting across key areas of the business, and ongoing operational, compliance and administrative support, enabling firms to move faster, operate more efficiently and grow on their own terms.
“Every major decision we make starts with one question: what is best for our clients,” Economos said. “Moving to independence gives us the flexibility to tailor our approach around each family's unique needs and goals. What attracted us to LPL was the ability to combine that independence with the scale, resources and support of a leading wealth management firm. It truly offers the best of both worlds, allowing us to remain personal and relationship-driven while enhancing our ability to serve clients for generations to come.”
“Nick has built Economos Private Wealth around deep relationships, comprehensive planning and a commitment to helping families navigate complex financial decisions with confidence,” said Marc Cohen, LPL’s Chief Growth Officer. “His ‘CFO for successful families’ approach reflects the kind of differentiated advice investors value today. We’re excited to welcome Nick, Heather and Tyler to LPL and look forward to supporting the continued growth of their business.”
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Economos Private Wealth and LPL Financial are separate entities.
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.
*CRPC conferred by College for Financial Planning.
**Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN DIEGO, Oct. 07, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Brad Jerome of Legacy Financial Group has joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms. He reported serving approximately $175 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.
Based outside of Flint, Mich. in Burton, Legacy Financial Group serves a diverse, multigenerational client base ranging from young investors just beginning their financial journeys to retirees and clients in their nineties. The practice has built its reputation on deep, relationship-driven service, often working with multiple generations of the same family and collaborating closely with estate planning attorneys and CPAs to help clients navigate important financial decisions. Legacy Financial Group is supported by Ben McKinney, Keaton Washburn, Brooke Lince, Autumn Blackford, Lisa Blackburn and Delanie Carpenter.
At the heart of the firm's philosophy is a commitment to understanding each client's unique goals, values and aspirations before recommending financial strategies. The team views every new relationship as a mutual partnership, taking time to learn what matters most to clients and helping create personalized plans designed to support their dreams throughout every stage of life.
“We've always believed financial planning begins with understanding people, not portfolios,” Jerome said. “Our clients trust us with some of the most important decisions in their lives, and we take that responsibility seriously. Whether someone is just starting to save, preparing for retirement or planning a legacy for future generations, our goal is to build meaningful relationships and provide guidance that helps turn their goals and dreams into reality.”
The team maintains a highly engaged service model, offering quarterly review opportunities, educational workshops and client appreciation events throughout the year. Through ongoing financial planning and regular communication, Legacy Financial Group strives to create long-lasting relationships that extend beyond traditional investment services and support clients through life's many milestones.
Why Legacy Financial Group Chose LPL
As Legacy Financial Group evaluated its next chapter, the team sought a partner that could support its continued growth while enhancing the client experience. After conducting extensive due diligence and consulting with industry peers, the team selected LPL for its technology, investment platform and commitment to advisor support.
“We were looking for a firm that was professional, operationally strong and capable of supporting our firm's continued growth,” Jerome said. “Throughout our due diligence, it became clear that LPL stands apart in the industry. The technology, investment platform and support resources give us confidence that we can continue elevating the experience we provide, while remaining focused on what matters most: serving our clients. We believe this relationship positions us to take our practice to the next level.”
Marc Cohen, Chief Growth Officer at LPL Financial, said, "The Legacy Financial Group team has built a reputation for putting relationships at the center of the client experience, and that's reflected in the trust they've earned across generations of families. As they look to the future, we're excited to provide the scale, capabilities, and strategic support to help them continue growing on their terms. We welcome Brad and the entire team to the LPL community and look forward to partnering with them as they build on an already impressive foundation."
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Legacy Financial Group and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN DIEGO, Oct. 06, 2026 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), the parent corporation of LPL Financial LLC, announced today it will report third quarter financial results after the market closes on Tuesday, October 27. The Company will host a conference call to discuss its results at 5 p.m. ET the same day.
The conference call will be accessible and available for replay at investor.lpl.com/events.
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisors and broker-dealers. Members FINRA/SIPC.
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 or LPL Enterprise.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
LPL Financial (NASDAQ:LPLA – Get Free Report)‘s stock had its “market outperform” rating restated by analysts at Citizens Jmp in a research note issued to investors on Monday, Benzinga reports. They currently have a $500.00 price objective on the financial services provider’s stock. Citizens Jmp’s price target would indicate a potential upside of 51.17% from the stock’s current price.
Several other research firms also recently commented on LPLA. Citigroup restated a “market outperform” rating on shares of LPL Financial in a research report on Monday. Bank of America reiterated a “buy” rating and issued a $554.00 price objective on shares of LPL Financial in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BMO Capital Markets lifted their price objective on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, TD Cowen lifted their price objective on LPL Financial from $372.00 to $377.00 and gave the company a “hold” rating in a research report on Tuesday, September 1st. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.80.
View Our Latest Research Report on LPLA
LPL Financial Price Performance Shares of LPL Financial stock traded up $14.31 during midday trading on Monday, hitting $330.75. 511,603 shares of the company were exchanged, compared to its average volume of 901,130. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.39 and a quick ratio of 2.39. The firm has a market cap of $26.04 billion, a P/E ratio of 26.38, a PEG ratio of 0.53 and a beta of 0.53. LPL Financial has a 52 week low of $260.15 and a 52 week high of $400.16. The firm has a 50 day simple moving average of $347.04 and a 200-day simple moving average of $317.94. LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.LPL Financial’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the company earned $4.51 EPS. Research analysts forecast that LPL Financial will post 24.24 earnings per share for the current year.
Insider Transactions at LPL Financial In related news, Director Matthew Enyedi sold 1,000 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director owned 13,121 shares in the company, valued at approximately $4,628,039.12. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the sale, the director owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,867 shares of company stock valued at $2,079,664 over the last quarter. Corporate insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On LPL Financial Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in LPL Financial in the second quarter valued at about $1,333,189,000. Capital World Investors increased its holdings in LPL Financial by 37.9% in the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after purchasing an additional 996,806 shares during the last quarter. Janus Henderson Group PLC increased its holdings in LPL Financial by 9.0% in the fourth quarter. Janus Henderson Group PLC now owns 3,377,553 shares of the financial services provider’s stock valued at $1,206,371,000 after purchasing an additional 280,202 shares during the last quarter. Jupiter Topco LLC bought a new stake in LPL Financial in the second quarter valued at about $1,182,595,000. Finally, Principal Financial Group Inc. increased its holdings in LPL Financial by 36.3% in the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after purchasing an additional 702,061 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.
LPL Financial Company Profile (Get Free Report)
LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.
LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.
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SAN DIEGO, Oct. 05, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that Praxis Financial Partners advisors Scott Christian, CFP®, Cecil Loyd, CIMA®, Jay Gentry, CIMA® and Matt Dion have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform. The team reported serving approximately $1.1 billion in advisory, brokerage and retirement plan assets* and joins LPL from Wells Fargo Advisors Financial Network.
Based in Alpharetta, Ga., Praxis Financial Partners is a planning-focused wealth management practice serving business owners, corporate retirees, successful executives and multigenerational families across 24 states. The firm traces its roots to 2013, when Christian and Loyd launched Praxis after working together for decades. The name "Praxis," derived from the Greek word for "process," reflects the team's planning-based philosophy. Gentry joined the practice in 2020 after 20 years in asset management distribution, while Dion joined in 2024 after 15 years as an advisor.
Today, the practice combines the experience of four advisors with a tenured support team that includes Jody Smith, Zac Hirschler, Ashlyn Presley, Ellen Rick, Seleena Harris and Parvathy Eashwaran. The team credits its service model as a key reason for its client retention, referral growth and longstanding multigenerational relationships.
"We've always believed that good financial advice begins with understanding what matters most to each client," Christian said. "We take the time to learn their goals, priorities and risk tolerance, then develop customized strategies supported by an ongoing review process. Every client is different, and our objective is to create solutions tailored to their unique circumstances rather than relying on a one-size-fits-all approach."
Collaboration is central to the firm's client experience. The advisors regularly work together on client strategies and maintain weekly investment committee meetings, where portfolio decisions, market developments and investment opportunities are evaluated collectively. By managing a significant portion of client assets in-house, the team provides clients with direct access to the advisors responsible for investment decisions and portfolio construction.
"The foundation of our business is service," Gentry said. "Many of our client relationships span multiple generations, and that continuity is made possible by an incredible team of professionals who care deeply about the people we serve. Our clients know they can count on the same familiar faces year after year, and that's something we are incredibly proud of."
Why Praxis Financial Partners Chose LPL
As the firm evaluated its next chapter, the advisors sought a partner that would provide greater flexibility, advanced planning capabilities and access to emerging technology.
"The financial advice landscape continues to evolve rapidly, and we wanted a partner that allows us to stay ahead of those changes," Christian said. "LPL's open architecture platform gives us the freedom to build the wealth management ecosystem we believe best serves our clients. The planning tools, flexibility and ability to create our own technology stack will help us continue delivering exceptional service while positioning the firm for future growth."
Dion added, "We were looking for a partner committed to innovation and focused on helping advisors deliver greater value. LPL's technology and resources will enable us to continue enhancing the client experience while maintaining the personalized service our clients expect."
The team also valued LPL's ability to support its long-term independence strategy. After evaluating more than a dozen firms, Praxis selected LPL because it offered the resources and scale the advisors were seeking while allowing them to maintain ownership of their business and preserve future succession and continuity options.
LPL Chief Growth Officer Marc Cohen said, "Scott, Cecil, Jay and Matt have built Praxis Financial Partners with a clear sense of purpose. Even the firm's name speaks to their disciplined, planning-first approach, and that philosophy comes through in everything from their collaborative investment process to the multigenerational relationships they've cultivated over the years. They've created a business that balances deep technical expertise with a genuine commitment to understanding what matters most to each client. We are honored they chose LPL for this next chapter and look forward to supporting Praxis Financial Partners as they continue evolving their business while staying true to the values that have driven their success."
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Praxis Financial Partners and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Hercules Capital (NYSE: HTGC - Get Free Report) and LPL Financial (NASDAQ: LPLA - Get Free Report) are both finance companies, but which is the better business? We will contrast the two businesses based on the strength of their earnings, profitability, risk, valuation, analyst recommendations, institutional ownership and dividends. Volatility and Risk Hercules Capital has a beta
SAN DIEGO, Sept. 30, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Harrison Kennard, CFP®, Charles Dobben and Justin Pandy, CFP®, of Lakewood Wealth Management have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms. The team reported serving approximately $170 million in advisory, brokerage and retirement plan assets* and joins LPL from Cambridge.
Based in Ann Arbor, Mich., Lakewood Wealth Management serves successful professionals, families and retirees through a comprehensive planning approach centered on building long-term relationships. The team works with many multigenerational families, often helping grandparents, their children and grandchildren navigate important financial decisions together. Their client base also includes healthcare professionals, university faculty and student-athletes benefiting from Name, Image and Likeness (NIL) opportunities.
Founder Harrison Kennard brings nearly two decades of industry experience and leads a collaborative team alongside Charles Dobben and Justin Pandy. Together, the advisors focus on comprehensive financial planning, including tax planning, estate planning and wealth management strategies tailored to each client's unique goals and circumstances.
"We believe financial planning is about much more than investments," Kennard said. "Every client has a unique story, unique priorities and different goals. Our job is to understand what matters most to them and create a plan that helps support those objectives. Whether we're working with a family across multiple generations, a healthcare professional or a young athlete navigating newfound opportunities, we want to serve as a trusted partner through every stage of life."
Lakewood Wealth Management emphasizes personalized planning and ongoing collaboration with clients. The team works to understand each client's full financial picture before developing strategies designed to evolve alongside changing needs and life circumstances. Their planning process integrates investment management with tax and estate considerations to help clients make confident decisions about their future.
The firm operates with a team-based structure in which Kennard collaborates closely with Dobben and Pandy. Together, they combine experience, education and diverse perspectives to help clients receive thoughtful guidance and personalized service.
Why Lakewood Wealth Management Chose LPL
The advisors selected LPL for its depth of resources, advanced technology capabilities and commitment to advisor independence. As they evaluated potential partners, the team sought a platform that would enhance the client experience while providing access to specialized expertise and expanded planning resources.
"We wanted a partner that would allow us to continue operating independently while giving us access to quality technology and resources," Kennard said. "LPL's platform provides the tools and support we need to create a better overall experience for our clients. The technology, planning capabilities and access to subject matter experts across a wide range of disciplines stood out to us, and we're excited about the opportunities this move creates for both our team and the families we serve."
Marc Cohen, Chief Growth Officer at LPL Financial, said, “Lakewood Wealth Management has built a practice centered on an important principle: every client’s goals, circumstances and aspirations are unique. Harrison, Charles, and Justin have distinguished themselves through thoughtful planning, personalized advice and a commitment to serving clients through every stage of life. We are honored they chose LPL and look forward to supporting their continued growth.”
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Lakewood Wealth Management and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Key Takeaways LPL Financial's client assets reached $2.6 trillion in August, up 15% year over year.LPLA's advisory assets rose 21% to $1.58 trillion, boosting the recurring, fee-based business mix.LPLA's advisory NNAs increased to $12.5 billion, while acquisitions added advisors and client assets. LPL Financial Holdings Inc. (LPLA - Free Report) has reported its August 2026 activity, showing continued momentum in client assets, advisory assets and organic net new assets (NNAs).
Total client assets reached $2.6 trillion at the end of August, up 15% year over year. The increase extends LPL Financial's strong asset-gathering trajectory and reflects continued growth in both advisory and brokerage assets. Client assets have increased steadily over the past year, supporting the company's expanding wealth management platform.
LPL Financial’s Client Assets MixAdvisory assets remained the key growth driver, reaching $1.58 trillion in August, up 21% year over year. Advisory assets accounted for 60.8% of total client assets, compared with 57.8% a year ago, highlighting the continued shift toward recurring, fee-based business. Brokerage assets rose 6.7% year over year to $1.02 trillion. The faster growth in advisory assets underscores LPL Financial's expanding advisory platform and its increasing contribution to the company's asset base.
The advisory business has remained an important long-term growth engine. Advisory revenues accounted for 52% of total revenues in the first half of 2026 and grew at a 28.5% compound annual growth rate (CAGR) during 2020-2025, while advisory assets increased at a 24.7% CAGR over the same period. Total client assets also grew at an 18% CAGR during this period, highlighting the sustained expansion of LPL Financial's overall asset base. Continued advisor recruiting, improving advisor productivity, technology investments and strategic acquisitions should help LPL Financial expand its advisory client and asset base.
Organic NNAs also remained stronger in August. Total organic NNAs were $13.5 billion, compared with $17.8 billion a year ago, while advisory NNAs stood at $12.5 billion, up from $11.8 billion in August 2025. Brokerage NNAs were $0.9 billion compared with $6.1 billion a year ago. The continued positive organic NNAs, particularly in advisory, indicate ongoing client asset-gathering activity and support growth in the company's asset-based revenue streams.
Client cash balances increased 3.2% year over year to $54.4 billion in August 2026. Total bank sweep balances rose 10.6% to $52.2 billion, while net buying activity stood at $13.8 billion, indicating continued client investment activity.
LPL Financial's strategic acquisitions are expected to provide another avenue for asset growth. The acquisition of Mariner Advisor Network added 367 advisors and approximately $31 billion in client assets, while the company continues to integrate Commonwealth Financial Network, acquired in August 2025.
Our Take on LPL FinancialWe believe LPL Financial's August activity remains encouraging, with total client assets and advisory assets growing. The continued increase in advisory assets as a share of total assets supports a more recurring, fee-based revenue mix. Positive organic NNAs, higher client cash balances and healthy net buying activity further indicate sustained client engagement. Meanwhile, advisor recruiting and strategic acquisitions are expected to provide additional support to asset growth.
Over the past six months, shares of LPL Financial have dropped 0.4% against the industry’s 15.6% rise.
LPLA's 6-Month Price Performance
Image Source: Zacks Investment Research
At present, LPL Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Monthly Performance of LPLA’s PeersThe Charles Schwab Corporation (SCHW - Free Report) continued to see strong platform growth, with total client assets reaching $13.41 trillion as of Aug. 31, 2026, up 19% year over year, while core NNAs surged 46% to $64.8 billion. Schwab opened 424,000 new brokerage accounts in August, up 11%, taking active brokerage accounts up 6% to 40.1 million. Banking accounts rose 13% to 2.4 million, while workplace plan participant accounts increased 5% to 5.9 million.
Client engagement also remained strong, with daily average trades rising 37% to 9.8 million and margin balances surging 92% to $177.6 billion in August. Transactional sweep cash increased 19% to $483.3 billion. Strategic acquisitions, including TD Ameritrade, USAA IMCO, Wasmer Schroeder, Motif and Forge, have broadened Schwab’s product and distribution capabilities, supporting continued client and asset growth.
Robinhood Markets, Inc. (HOOD - Free Report) has witnessed strong growth across its platform, with total platform assets climbing to $384 billion as of Aug. 31, 2026, up 26% year over year. Net deposits remained robust at $4 billion for the month, a 14% annualized growth rate. Platform scale continued to expand alongside client assets, as funded customers increased 7.1% year over year to reach 28.6 million.
Strategic expansion into institutional crypto, wealth advisory, and international markets, facilitated by the integration of Bitstamp, TradePMR and WonderFi, along with product additions like event contracts and the custody of Trump Accounts, has broadened HOOD’s asset base and trading ecosystem. In August 2026, engagement across these initiatives was underscored by $335 billion in equity notional volume, up 68% year over year; 293 million options contracts traded, up 50%; and 4.7 billion event contracts traded, up fifteen-fold, positioning Robinhood for continued asset gathering and revenue momentum.
SAN DIEGO, Sept. 24, 2026 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”) today released its monthly activity report for August 2026.
Total client assets at the end of August were $2.60 trillion, an increase of $55.3 billion, or 2.2%, compared to the end of July. Advisory assets as a percentage of total assets increased to 60.8%, up from 57.8% a year ago.
Total organic net new assets (“NNA”) for August were $13.5 billion, translating to a 6.4% annualized growth rate.
Total client cash balances at the end of August were $54.4 billion, an increase of $0.1 billion compared to the end of July. Net buying in August was $13.8 billion.
(End of period $ in billions, unless noted)
August July Change August Change 2026 2026 M/M 2025 Y/Y Client Assets Advisory1,582.5 1,544.2 2.5%1,308.3 21.0%Brokerage1,019.4 1,002.4 1.7%955.3 6.7%Total Client Assets2,601.9 2,546.6 2.2%2,263.5 15.0% Organic NNA Advisory12.5 10.2 n/m 11.8 n/m Brokerage0.9 (2.8)n/m 6.1 n/m Total Organic NNA13.5 7.4 n/m 17.8 n/m Acquired NNA(1) Advisory0.0 0.0 n/m 199.3 n/m Brokerage0.0 0.0 n/m 75.7 n/m Total Acquired NNA0.0 0.0 n/m 275.0 n/m Total NNA Advisory12.5 10.2 n/m 211.1 n/m Brokerage0.9 (2.8)n/m 81.7 n/m Total NNA13.5 7.4 n/m 292.8 n/m Net brokerage to advisory conversions1.7 1.9 n/m 2.1 n/m Client Cash Balances Insured cash account sweep37.1 36.8 0.8%35.0 6.0%Deposit cash account sweep15.1 15.0 0.7%12.2 23.8%Total Bank Sweep52.2 51.8 0.8%47.2 10.6%Money market sweep1.0 1.1 (9.1%)4.1 (75.6%)Total Client Cash Sweep Held by Third Parties53.1 52.8 0.6%51.3 3.5%Client cash account1.2 1.5 (20.0%)1.4 (14.3%)Total Client Cash Balances54.4 54.3 0.2%52.7 3.2% Net buy (sell) activity13.8 14.7 n/m 14.2 n/m Market Drivers S&P 500 Index (end of period)7,686 7,490 2.6%6,460 19.0%Russell 2000 Index (end of period)2,956 2,931 0.9%2,366 25.0%Fed Funds daily effective rate (average bps)363 363 —%433 (16.2%) Note: Totals may not foot due to rounding.
(1) In August 2025, includes Commonwealth assets as of 6/30/2025, assuming 90% retention. Based on unaudited preliminary financial information of Commonwealth.
For additional information regarding these and other Company business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisers and broker-dealers. Members FINRA/SIPC.
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 or LPL Enterprise.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
SAN DIEGO, Sept. 24, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Jon Burnett, Dan Fowler and Chad Carlile have joined LPL Financial's broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. Together, the advisors reported serving approximately $430 million in advisory, brokerage and retirement plan assets* and join LPL from Raymond James.
SAN DIEGO, Sept. 22, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the financial advisors of Cornerstone Advisors and Clear Pointe Wealth Management have joined LPL Financial's broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. The teams reported serving approximately $1 billion in assets* and join LPL from Northwestern Mutual.
The two Salt Lake City, Utah area-based practices share a decades-long personal and professional relationship and are preparing to operate from a shared office while maintaining their distinct business identities. Together, the teams provide comprehensive financial planning and retirement-focused wealth management services to business owners, professionals and retirees throughout the region.
Meet Cornerstone Advisors
Led by financial advisors Gardner Brown and Brian Lifferth, CFP®, Cornerstone Advisors specializes in helping individuals and business owners nearing or living in retirement navigate complex financial decisions. Brown and Lifferth, who have worked together since 2004, have built the practice around a planning-first philosophy focused on helping clients prepare for and sustain retirement.
The team emphasizes comprehensive financial planning, investment management and coordination with other professionals, helping clients address retirement income, tax planning, estate considerations and wealth transfer needs.
“Financial planning has always been at the center of our practice,” said Brown. “For more than 30 years, we've helped clients navigate the decisions that come with retirement and major life transitions. We don't just manage investments. We help clients address all the moving pieces of their financial lives and serve as a resource for them every step of the way.”
The team selected LPL for its advisor-focused culture, technology capabilities and flexibility to support future growth.
“LPL focuses on advisors so advisors can focus on clients,” said Lifferth. “The technology, investment capabilities, operational support and flexibility available through LPL position us to continue growing our practice while maintaining the personalized service our clients expect. We wanted a platform that could keep pace with the growth of our business and support where we want to go next.”
Supporting the practice are team members Lexie Sorensen, John Call III, Daniel Brown, Jennie Frey and Alexis Rowley.
Meet Clear Pointe Wealth Management
Clear Pointe Wealth Management is led by financial advisors Ron Hunt, CLU®, ChFC®, RICP®** and Jonathan Groberg, CLU®, ChFC®, CFP®, MSFS, who have worked together since 2005. The team serves clients who are preparing for retirement or living in retirement, with a particular focus on helping business owners and professionals translate thoughtful financial plans into actionable strategies.
Hunt and Groberg built their partnership around complementary skill sets, with Groberg focusing on investment research, portfolio construction and manager due diligence, while Hunt specializes in comprehensive planning and client strategy. Since joining forces, the practice has experienced significant growth and expanded its client relationships throughout the region.
“Our process starts with listening and building a comprehensive plan,” said Ron Hunt. “From there, we focus on implementation, helping ensure clients strategize and put strategies in place to support a successful retirement. It's about turning a financial plan into a practical roadmap that clients can confidently follow.”
As the practice continued to grow, the team sought a platform that would enhance efficiency and provide expanded resources for clients.
“We were looking for a partner that would give us the tools, resources and flexibility needed to serve clients at the highest level,” Hunt said. “LPL's technology, product breadth and service model will allow us to operate more efficiently and spend even more time focused on helping clients pursue their goals.”
Marc Cohen, chief growth officer at LPL Financial, said, "Cornerstone Advisors and Clear Pointe Wealth Management represent the kind of client-centric, planning-focused businesses that continue to elevate our industry. Gardner, Brian, Ron, and Jonathan have built firms with distinct identities, strong reputations, and enduring relationships. We are proud to welcome them to LPL and look forward to supporting their continued growth while helping them preserve the qualities that have contributed to their success."
Outside of the office, the advisors have deep roots throughout Utah and remain actively involved in their local communities. The advisors have lived in Utah their entire lives and have expressed their commitment to continuing to serve Utah families and businesses for years to come.
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Cornerstone Advisors, Clear Pointe Wealth Management and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that Matt Audette has been elected as an independent director to Valero's board of directors (the “Board”) and has joined the Board's Audit Committee, effective immediately. Mr. Audette is the President and Chief Financial Officer of LPL Financial Holdings Inc. (NASDAQ: LPLA, “LPL”), a publicly traded company that serves the financial advisor-mediated marketplace as the nation's largest independent bro.
Katharine Reeping disposed of $152,719 in stock at $347.88 per share, reducing her direct holdings by 20% while retaining restricted stock units vesting through 2029.
SAN DIEGO, Sept. 15, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Bill Wagner, CFP®, RICP®, Scott Sennett and Andrew Kocukov of Horizon Wealth Management Group have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms. The team reported serving approximately $385 million in advisory, brokerage and retirement plan assets* and joins LPL from Wells Fargo Advisors Financial Network.
Based in Wichita, Kan., Horizon Wealth Management Group serves clients through a comprehensive, planning-based approach focused on helping individuals and families navigate retirement with confidence. The ensemble practice combines the expertise of three partners and Operations Manager Julie Starns to deliver personalized guidance that extends beyond traditional investment management. The team's clients are primarily retirees and individuals approaching retirement, with a majority of the practice focused on helping clients manage the distribution phase of their financial lives.
At the core of the firm's philosophy is a commitment to understanding “the why behind the what" before making recommendations. Through detailed financial planning, retirement income strategies, estate planning guidance, long-term care discussions and ongoing support, the team works to help clients address both the financial and personal aspects of retirement.
"We believe successful retirement planning is about much more than managing money," Wagner said. "It's about helping people create a fulfilling life after they leave the workforce and ensuring they have a strategy in place to support the future they envision. Every recommendation starts with understanding what's important to our clients and the goals they want to accomplish. That level of planning helps us build deeper relationships and provide guidance that extends well beyond investment management."
The firm's team-based approach enables Horizon Wealth Management Group to provide specialized expertise across multiple areas of financial planning. Together, the team collaborates on estate planning and client strategy discussions, allowing them to deliver comprehensive service while remaining highly accessible to clients.
Why Horizon Wealth Management Group Chose LPL
The team selected LPL for its advanced technology, robust financial planning capabilities and dedicated service model. As Horizon Wealth Management Group evaluated potential partners, the advisors sought a platform that would enable them to operate more efficiently, enhance client service and support their planning-focused business model.
"We spent significant time researching potential partners and ultimately felt LPL was best positioned to support both our team and our clients," Wagner said. "The technology is exceptional, and the financial planning tools align closely with our approach. The dedicated service model will help us deliver an even better client experience. Having direct access to a consistent service team means faster answers, greater efficiency and more time spent where it matters most: helping families pursue their goals."
Marc Cohen, Chief Growth Officer at LPL Financial, said, “What stands out about Horizon Wealth Management Group is the team’s belief that meaningful advice begins with understanding each client’s goals, priorities, and vision for the future. Bill, Scott, and Andrew bring distinct expertise to that work, operating as one team so clients benefit from the collective experience and dedication of the entire firm. We’re honored to welcome Horizon Wealth Management Group to LPL and look forward to supporting the team as they expand their impact while preserving the valued relationships that have shaped their success.”
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Horizon Wealth Management Group and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Aneri Jambusaria, Group Managing Director at LPL Financial Holdings (LPLA +1.88%), executed a sale of 308 shares of common stock on Aug. 27, 2026, as disclosed in a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$110,100Shares sold (directly held)308Post-transaction shares (directly held)6,107Post-transaction value$2.2 millionTransaction value based on SEC Form 4 weighted average sale price ($357.36); post-transaction value based on Aug. 27, 2026, market close ($361.22).
Key questionsWhat was the primary mechanism for this transaction?
The sale was executed under a Rule 10b5-1 trading plan established in November 2025, which provides a structured mechanism for the liquidation of equity independent of immediate market conditions.How does this impact the insider's total equity exposure?
Jambusaria maintains a direct position of 6,107 shares and also holds derivative securities, including restricted stock units scheduled to vest between February 2027 and February 2029.What was the company's valuation environment at the time of execution?
Shares were sold at $357.36 per share, while the stock closed at $370.69 as of the Aug. 28, 2026, market close.What are the core business activities of the company?
LPL Financial Holdings delivers an integrated ecosystem of brokerage and investment advisory solutions primarily aimed at independent financial professionals and advisors affiliated with financial institutions.Company OverviewMetricValueShare Price (as of market close 2026-08-28)$370.69Market Capitalization$27.8 billionRevenue (TTM)$19.2 billionNet Income (TTM)$1 billionCompany SnapshotLPL Financial operates an integrated ecosystem of brokerage and investment advisory solutions, generating revenue through commissions, advisory fees, and transaction-based services across a comprehensive suite of financial products, including equities, mutual funds, annuities, and retirement savings vehicles.The company operates a platform-based business model that serves as an intermediary between independent financial professionals and advisors affiliated with financial institutions, capturing fees from advisory services, brokerage commissions, and product distribution across its client base.LPL Financial's primary customers are independent financial advisors and professionals affiliated with financial institutions throughout the United States, who collectively represent a substantial portion of the nation's financial advisory workforce.LPL Financial Holdings is a leading independent brokerage and investment advisory platform serving the U.S. financial services market with approximately 10,081 employees and a market capitalization of $27.8 billion. The company has established a diversified revenue model through its comprehensive suite of brokerage and advisory services, generating $19.2 billion in TTM revenue with net income of $1 billion, demonstrating strong operational profitability and market positioning within the financial services sector.
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What this transaction means for investorsOn Aug. 27, Jambusaria sold 308 shares, in a transaction valued at $110,100. Given the details of this transaction, this doesn't appear to be a sale that shareholders should be overly worried about. This sale is part of a trading plan established in November 2025. That means Jambusaria did not sell shares arbitrarily, nor is it an indication that anything is amiss with LPL Financial. In addition, although Jambusaria sold 308 shares, the insider still holds 6,107 shares. That shows continued alignment with the company's success. Taken together, this transaction appears to be routine.
The sale occurs against a stock price that has been mostly flat over the past 12 months, while the S&P 500 is up 16.2% over the same period. For what could be next for where shares trade, analysts appear mostly bullish on the stock. According to CNN, of the 19 who cover the stock, 79% rate it a buy, while 21% rate it a hold. From that group, the median one-year price target is $401. From the price as of this writing, $353.78, that would represent a gain of 13.3%. The highest price target, $557, would represent a 57.4% gain. And the group's lowest price target, $336, would represent a 5% loss.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Amundi boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 30.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,400 shares of the financial services provider’s stock after acquiring an additional 38,624 shares during the period. Amundi owned 0.21% of LPL Financial worth $46,308,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the 2nd quarter valued at $26,000. Clearstead Advisors LLC raised its position in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in LPL Financial during the 4th quarter worth $36,000. Physician Wealth Advisors Inc. lifted its stake in shares of LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 116 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of LPL Financial in the 4th quarter worth $50,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at LPL Financial In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the sale, the director owned 6,107 shares in the company, valued at approximately $2,182,397.52. This represents a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director directly owned 23,602 shares of the company’s stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,735 shares of company stock valued at $2,020,845. 0.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes A number of brokerages have recently issued reports on LPLA. Wolfe Research reiterated an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Truist Financial initiated coverage on LPL Financial in a report on Tuesday, September 1st. They issued a “hold” rating and a $389.00 price objective on the stock. UBS Group dropped their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Barclays raised their price target on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $405.79. View Our Latest Report on LPLA
LPL Financial Price Performance LPL Financial stock opened at $347.26 on Friday. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm’s 50-day simple moving average is $346.10 and its 200 day simple moving average is $316.14. The firm has a market capitalization of $27.34 billion, a PE ratio of 27.69, a P/E/G ratio of 0.59 and a beta of 0.48.
LPL Financial (NASDAQ:LPLA – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. The firm had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.51 EPS. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.
LPL Financial Announces Dividend The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio is presently 9.57%.
LPL Financial Profile (Free Report)
LPL Financial Holdings Inc (NASDAQ:LPLA) is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.
The company’s platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.
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SAN DIEGO, Sept. 10, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Jeneen Slack, CFP®, CDFA®, founder and partner of Northstar Financial Advisors, LLC, has joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. Slack reported serving more than $270 million in client assets* and joins LPL from Raymond James.
With nearly 20 years of industry experience, Slack built her practice on a belief that financial advice is most impactful when it is rooted in strong personal relationships. Initially inspired by a desire to help women feel more confident discussing and managing their finances, her approach today is centered on helping individuals and families make informed decisions about their financial futures.
Based in Danville, Calif., Slack serves a diverse clientele throughout the Bay Area, including professionals, families, retirees and individuals navigating major life transitions. As a Certified Divorce Financial Analyst (CDFA®), she specializes in helping clients understand the financial implications of divorce and supporting their long-term planning needs beyond the process itself.
“Relationships are truly at the heart of everything we do at Northstar,” Slack said. “We’ve intentionally built a personalized service model where every member of our team knows our clients personally and understands what matters most to them. Whether we’re helping someone navigate retirement, prepare a child for financial independence or make complex decisions during a divorce, our goal is to provide guidance that evolves alongside our clients’ lives.”
Slack, along with her business partner and fellow financial advisor Eric Slack, is supported by Kari Jeha, Jon Lee and V. John Threlkeld. Together, they bring decades of combined industry experience and a hands-on approach focused on delivering individualized service. Beyond working with clients, the practice is deeply committed to community engagement – regularly hosting educational workshops, retirement planning programs and client events designed to foster deeper connections and financial literacy.
Why Northstar Financial Advisors Chose LPL
As she looked ahead to the next chapter of her career, Slack sought a partner that would give her the flexibility to build Northstar around her vision for the future while providing the scale and resources of a leading financial services firm. She was particularly attracted to LPL’s commitment to innovation, its advanced technology capabilities and the depth of support available to established advisors.
“I’m at a point in my career where I wanted a partner that is continually investing in the future of advice,” Slack said. “LPL gives us the flexibility and resources to operate the way we believe is best for our clients, while providing the technology and support to help our team work more efficiently. That combination allows us to focus on what matters most — delivering thoughtful, personalized guidance and maintaining the strong relationships we’ve built with our clients.”
Marc Cohen, Chief Growth Officer at LPL Financial, said, “What Jeneen has built at Northstar is personal by design. She and her team take the time to know their clients, helping women engage more confidently with their finances and guiding individuals and families through the decisions and transitions that shape their lives. We are honored that Jeneen chose LPL for Northstar’s next chapter and look forward to helping the team extend that experience to more clients.”
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Northstar Financial Advisors and LPL Financial are separate entities.
LPL Financial does not offer tax advice or tax preparation services.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN DIEGO, Sept. 01, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Ryan Lewis, Dan Hocking and Steve Braatz have joined Linsco by LPL Financial to launch ClearHaven Wealth Management. The team reported serving approximately $395 million in advisory, brokerage and retirement plan assets.* Lewis joins LPL from Morgan Stanley and Hocking and Braatz from RBC Wealth Management.
Based in Minnesota, ClearHaven Wealth Management serves high-net-worth individuals and families, many of whom represent multigenerational client relationships spanning decades. The team primarily works with clients who are approaching or living in retirement, helping them navigate investment management, wealth preservation and long-term financial planning. The advisors take a highly personalized approach built on accessibility, responsiveness and enduring client relationships. The practice is supported by LPL Registered Administrative Assistant Cade Nelson and administrative professional Nikki Hocking.
ClearHaven Wealth Management's roots run deep. Lewis and Braatz have known each other since childhood and have spent much of their careers working together to serve clients and grow their practices. The team also includes second-generation financial advisors who have built upon family legacies by serving clients across multiple generations.
“We've built our practice around relationships and collaboration,” said Lewis. “Many of our clients are families we've worked with across multiple generations and we take seriously the responsibility of helping them pursue their financial goals. Our approach is grounded in thoughtful investment management, open communication and a commitment to putting clients' interests first.”
The team operates with a collaborative structure that combines relationship management and portfolio oversight. While maintaining a boutique feel, the advisors strive to provide a high-touch client experience designed to deliver personal attention and tailored financial guidance.
Why ClearHaven Wealth Management Chose LPL
The ClearHaven Wealth Management team selected LPL for its ability to provide advisor autonomy without the operational burden of running an independent business. The advisors were particularly attracted to LPL's technology, support resources and opportunity to build their own brand while focusing on serving clients.
“We wanted the flexibility to create our own identity and operate an autonomous practice while still having access to the resources, infrastructure and support of a leading firm,” said Hocking. “LPL provided the right balance, allowing us to focus on what we do best, serving clients, without having to manage all the responsibilities that come with owning and operating a standalone business.”
“LPL offered the best of both worlds,” Braatz added. “We wanted the flexibility to run an autonomous practice and build our own brand without taking on the administrative responsibilities that come with operating an independent business. With LPL's support, we can stay focused on serving clients while continuing to grow our practice.”
LPL Chief Growth Officer Marc Cohen said, “We are pleased to welcome ClearHaven Wealth Management to LPL Financial. The story behind ClearHaven is one of partnership, legacy, and enduring client relationships. Ryan, Dan, and Steve have built a practice rooted in value and dedicated to helping families navigate their financial futures across generations. We're proud to support them with the flexibility, resources, and capabilities to continue delivering a personalized experience while building for the future.”
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN DIEGO, Aug. 25, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Pat Gilbert and James Gilbert of Preferred Financial Group have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platforms. The team reported serving approximately $230 million in advisory, brokerage and retirement plan assets* and joins LPL from Harbour Investments, Inc.
Based in the Battle Creek and Kalamazoo, Mich. areas, Preferred Financial Group serves clients through a relationship-driven approach rooted in accessibility, value and personal service. The father-son team has worked together since 2014, bringing a multigenerational perspective to the practice and a shared commitment to helping clients navigate important financial decisions. The team has almost 50 years of combined experience.
Preferred Financial Group serves a wide range of clients, with a focus on pre-retirees and retirees, while also helping newly married couples, young professionals and clients with IRA and college savings accounts. Their approach centers on building meaningful relationships and understanding each client beyond the numbers, allowing the team to develop personalized financial roadmaps that can adjust as life changes.
“We believe the personal relationship we build with clients is what truly sets us apart,” said Pat Gilbert. “Our door is open, and we want clients to feel comfortable stopping by, calling us and knowing we are here for them. They are not just clients to us. They are people we care about, and we are grateful for the trust they continue to place in us as we begin this new chapter with LPL.”
“We work with clients to identify where they want to go, then help create the roadmap to get there,” James Gilbert added. “From there, we serve as a GPS along the way, helping them stay on course while understanding that life happens and sometimes detours are necessary.”
Why Preferred Financial Group Chose LPL
The team selected LPL for its scale, technology and streamlined experience, which they believe will help them operate more efficiently, enhance the client experience and support the next generation of advisors as the practice continues to grow.
“As our practice has grown, it became clear that we needed a platform that could grow with us,” said Pat Gilbert. “LPL’s technology, ease of doing business and resources position us to serve clients more efficiently while also helping build the firm for the next generation of advisors.”
James Gilbert said LPL’s modern platform was an especially important factor as the financial services industry continues to evolve. “The advancements LPL has made in technology were a major factor for us,” he said. “The ability to streamline processes and access more client-facing tools gives us more time to focus on what matters most: meeting with clients, serving their needs and helping them feel confident in their financial future.”
Marc Cohen, chief growth officer at LPL Financial, said, “We are pleased to welcome Pat and James to LPL. Preferred Financial Group reflects the kind of deeply personal, relationship-based advice that clients value, with a team approach built on collaboration, accessibility and a genuine commitment to helping families navigate each stage of their financial lives. We look forward to supporting them with the technology, scale and resources they need to continue serving clients efficiently while positioning the practice for its next chapter of growth.”
Outside of the office, Pat and James Gilbert are lifelong Michigan residents who enjoy spending time with their families and playing golf together. Pat Gilbert has been married for 39 years and has three children and nine grandchildren. James Gilbert has been married for 10 years and has one daughter.
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Preferred Financial Group and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
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Stock to Watch: LPL Financial Holdings Inc. (LPLA - Free Report) LPL Financial Holdings Inc. is based in Boston, MA. It is a clearing broker-dealer and an investment advisory firm that acts as an agent for its advisors on behalf of their clients by providing access to a broad array of financial products and services. LPL Financial conducts business through its subsidiaries. Some notable ones are:
LPLA is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Finance stock. LPLA has a Momentum Style Score of B, and shares are up 9.8% over the past four weeks.
For fiscal 2026, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.15 to $24.09 per share. LPLA boasts an average earnings surprise of +8.8%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, LPLA should be on investors' short list.
Bamco Inc. NY purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 114,224 shares of the financial services provider’s stock, valued at approximately $32,175,000. Bamco Inc. NY owned 0.15% of LPL Financial at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Osterweis Capital Management Inc. purchased a new position in LPL Financial in the second quarter valued at about $26,000. Clearstead Advisors LLC lifted its stake in shares of LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Core Wealth Advisors LLC bought a new position in LPL Financial in the 4th quarter worth $36,000. Physician Wealth Advisors Inc. raised its holdings in LPL Financial by 580.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 116 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in LPL Financial during the 4th quarter worth $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
LPL Financial Stock Performance LPL Financial stock opened at $360.24 on Thursday. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. The stock has a 50-day simple moving average of $330.25 and a 200 day simple moving average of $315.00. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30.
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the firm earned $4.51 EPS. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year. LPL Financial Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio is 9.57%.
Analyst Upgrades and Downgrades A number of research firms have issued reports on LPLA. William Blair reaffirmed an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Barclays increased their price objective on LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a research note on Friday, July 24th. UBS Group dropped their target price on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Morgan Stanley lifted their target price on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $406.69.
Get Our Latest Stock Report on LPLA
Insiders Place Their Bets In other news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the transaction, the director owned 23,602 shares in the company, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,427 shares of company stock worth $1,910,778 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.
LPL Financial Company Profile (Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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SAN DIEGO, Aug. 24, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC, a leading wealth management firm, today announced that Jonathan Lewis has joined the firm as managing director, chief technology and information officer. In this role, Lewis will lead key technology domains for the firm, including architecture, engineering, infrastructure and development. He will report to Greg Gates, who assumes the broader title of group managing director, chief product and technology officer.
Lewis brings more than two decades of experience leading large-scale technology organizations across the financial services industry. Most recently, he served as head of digital and trading technology for wealth management at Wells Fargo, where he led large-scale technology platforms and advanced AI-driven engineering capabilities to support advisors and clients. Prior to Wells Fargo, Lewis was head of asset management technology at J.P. Morgan.
“Jonathan is a proven technology leader with a strong track record of building, scaling and modernizing complex wealth management platforms in service of financial advisors and their clients,” said Gates. “As the LPL Latitude technology experience becomes an even greater differentiator in the value we deliver to our clients, we’re enhancing our leadership team to drive innovation and execution at scale. Jonathan’s deep expertise across engineering, infrastructure and technology transformation will help accelerate our innovation agenda while advancing our investments in AI and platform modernization.”
Lewis is based in New York City.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC.
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.
SAN DIEGO, Aug. 24, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the Conte Wealth Advisors, LLC (CWA) team has joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform. The firm reported serving approximately $1.6 billion in advisory, brokerage and retirement plan assets* and joins LPL from Cambridge Investment Research.
Headquartered outside of Harrisburg, Pa. in Camp Hill, Conte Wealth Advisors, LLC is a third-generation family-owned firm led by financial advisor Tony Conte, CFP®, CEPA®. The practice traces its roots back to Tony's grandfather, Sam Conte, who entered the financial services industry in the 1950s. Tony's father, Frank Conte, CLU®, ChFC®, later joined the business and continues to serve clients today. Tony’s brother-in-law, Joe Henriques, CFP®, AIF®, is also part of the practice as managing director, principal wealth advisor. Since assuming leadership of the firm in 2012, Tony has overseen the growth of CWA into a collaborative enterprise supporting 24 advisors and offices across multiple states.
CWA serves business owners, high-net-worth and ultra-high-net-worth individuals and families through a planning-first approach designed to address clients' investments, businesses and broader financial lives.
"We treat every client relationship as though they deserve the experience of a Family Focused Office," Conte said. "Our role is to help guide clients toward not only suitable investment strategies, but also suitable financial decisions for themselves, their businesses and often their employees. It's a comprehensive approach built on long-term relationships and thoughtful planning."
The firm differentiates itself through its collaborative culture, bringing together independent-minded advisors who regularly share ideas, best practices and expertise to better serve clients. The team meets weekly to discuss client strategies and support one another's growth.
"We've built a culture where advisors can maintain their independence without feeling like they're on an island," Conte said. "Our advisors genuinely support one another and openly share insights and experiences. That collaboration makes us better advisors and enables us to deliver more effective planning and investment guidance to our clients."
Why Conte Wealth Advisors Chose LPL
As the firm continues to expand, recruiting and supporting growth-oriented advisors remains a strategic priority. CWA selected LPL for its technology capabilities, advisor support resources and ability to help the firm scale while enhancing the client experience.
"We want to continue attracting advisors who fit our culture and helping them build successful businesses," Conte said. "LPL gives us the scale, technology and resources necessary to do that. Just as importantly, it provides stability and forward-looking investment in innovation that we believe is essential to serving clients and growing our business well into the future."
Conte added that the firm's due diligence process reinforced confidence in the move.
"The level of support we've received throughout this transition has been remarkable," he said. "What stood out most was the culture. From the beginning, we've felt a genuine commitment from LPL's leadership and teams to helping us succeed, and that gave us confidence we were making the right decision for our advisors and clients."
LPL Chief Growth Officer Marc Cohen said, “In getting to know Tony, I came to appreciate his genuine care for CWA’s clients and advisors, as well as his thoughtful stewardship of the Conte family legacy. His passion for serving others and the collaborative culture he and his team have built strongly resonate with our values at LPL. We are honored that Tony, Frank, Joe, and the entire Conte Wealth Advisors team have chosen LPL, and we look forward to helping them pursue their vision while preserving what makes the firm so distinctive.”
Beyond its wealth management business, CWA is actively involved in its local communities and is exploring the creation of a charitable foundation that would empower clients to help direct annual philanthropic giving to organizations making a meaningful impact.
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Conte Wealth Advisors and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Danske Bank A S bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,721 shares of the financial services provider’s stock, valued at approximately $766,000.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in LPL Financial during the second quarter valued at approximately $1,333,189,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in LPL Financial in the 4th quarter valued at approximately $450,493,000. Norges Bank purchased a new stake in LPL Financial in the 4th quarter worth approximately $371,616,000. Capital World Investors lifted its position in LPL Financial by 37.9% in the 4th quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after buying an additional 996,806 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in LPL Financial by 4,435.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 747,086 shares of the financial services provider’s stock worth $210,439,000 after buying an additional 730,613 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.
LPL Financial Price Performance NASDAQ LPLA opened at $361.35 on Friday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $28.45 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a 50 day moving average price of $326.58 and a two-hundred day moving average price of $315.86. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping the consensus estimate of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 earnings per share. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year. LPL Financial Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. LPL Financial’s dividend payout ratio is currently 9.57%.
Insider Buying and Selling In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares of the company’s stock, valued at $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the sale, the director directly owned 23,602 shares of the company’s stock, valued at $8,387,678.76. This represents a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,427 shares of company stock worth $1,910,778. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades Several equities analysts have recently commented on LPLA shares. Barclays boosted their price target on shares of LPL Financial from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $408.00 to $428.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BMO Capital Markets boosted their target price on LPL Financial from $300.00 to $390.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, UBS Group lowered their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $406.69.
Read Our Latest Stock Report on LPL Financial
About LPL Financial (Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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Key Takeaways LPL Financial continues to benefit from strong client asset growth and rising advisory penetration.LPLA maintains a positive organic NNA, led by strong advisory inflows despite brokerage outflows.LPL Financial sees healthy client activity, supporting long-term growth despite softer cash balances. LPL Financial Holdings Inc. (LPLA - Free Report) reported its July 2026 activity, showing continued growth in client assets and positive organic net new assets (NNA), despite modest sequential declines across some key metrics.
Total client assets have followed a strong multi-year growth trajectory at a CAGR of 18%. They increased significantly from 2021 through 2025 to reach a peak of $2.56 trillion at the end of the second quarter of 2026. As of July 2026, total client assets stood at $2.55 trillion, down marginally from the second-quarter peak but up 31.3% year over year. The strong annual increase was driven by robust growth in advisory assets and continued client asset inflows, extending LPL Financial's strong asset-gathering momentum.
Total Client Asset Growth
Image Source: LPL Financial Holdings Inc.
Advisory assets continued to gain share of total client assets, reaching $1.54 trillion in July 2026, or 60.6% of total assets, up 43.5% year over year, reflecting LPL's ongoing shift toward recurring, fee-based revenues. Although advisory assets edged down sequentially, strong year-over-year growth underscored continued momentum. Brokerage assets stood at around $1 trillion, down 1.2% sequentially but up 16.2% year over year, with a more uneven growth trend than advisory assets, further highlighting the favorable shift toward advisory-led revenues.
Organic NNA remained positive for every year since 2021, although the growth pace has moderated from elevated levels earlier in the decade to roughly 5.2% on a trailing 12-month basis by mid-2026. Cumulative organic NNA has surpassed $600 billion over the period. At the end of July, LPL generated $7.4 billion in organic NNA, down from $11.3 billion in June, translating into an annualized growth rate of 3.5%.
Total Organic NNA Trend
Image Source: LPL Financial Holdings Inc.
Client cash balances have remained volatile over the past five years, with their share of total client assets steadily declining as overall assets grew faster. In July, total client cash balances fell 4.6% sequentially to $54.3 billion but remained 9.7% above the year-ago level, while bank sweep balances declined 4.3% from June to $51.8 billion but rose 16.7% year over year.
Despite lower cash balances, client market activity remained healthy, with net buying activity increasing to $14.7 billion from $13.1 billion in June, indicating continued client engagement.
Our Take on LPL FinancialWe believe LPL Financial's July activity remains encouraging, with strong year-over-year growth in client and advisory assets, positive organic NNA and healthy net buying activity. The continued shift toward advisory assets supports a more recurring, fee-based revenue mix. While moderating organic NNA and lower assets and cash balances indicate near-term softness, sustained advisory inflows remain favorable. Overall, LPL's asset-gathering capabilities and rising advisory penetration should support long-term growth.
Over the past six months, shares of LPL Financial have gained 16.5% compared with the industry’s 18% increase.
Six Months Price Performance
Image Source: Zacks Investment Research
LPLA’s Zacks Rank
At present, LPL Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Firm’s July Month UpdateInteractive Brokers Group’s (IBKR - Free Report) July 2026 performance remained strong, with DARTs increasing 27% year over year to 4.4 million despite a 16% monthly decline. Client equity rose 32% to $906.7 billion, while margin loan balances jumped 49% to $100.7 billion, reflecting higher client activity and balances.
Interactive’s client accounts grew 34% year over year to 5.3 million, supporting sustained platform expansion. Credit balances increased 25% to $180.5 billion, while stocks, options, and futures recorded average commissions of $2.13, $3.42, and $3.95 per cleared order, respectively.
Charles Schwab’s (SCHW - Free Report) July 2026 activity remained strong, with core net new assets rising 24% year over year to a July record of $58.1 billion. Total client assets reached $13.04 trillion, up 19% year over year, while 417,000 new brokerage accounts were opened during the month.
Schwab’s trading activity remained robust, with daily average trades reaching 11.6 million and margin balances rising 51% from 2025-end to $169.9 billion. Active brokerage accounts stood at 39.9 million, while transactional sweep cash declined $8.9 billion to $476.8 billion.
BlackRock Inc. acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,732,991 shares of the financial services provider’s stock, valued at approximately $1,333,189,000. BlackRock Inc. owned approximately 6.01% of LPL Financial as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in LPLA. Egerton Capital UK LLP purchased a new position in LPL Financial in the fourth quarter valued at about $91,012,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of LPL Financial by 7.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider’s stock worth $28,204,000 after purchasing an additional 5,179 shares in the last quarter. Markel Group Inc. raised its stake in shares of LPL Financial by 1.2% during the 4th quarter. Markel Group Inc. now owns 559,951 shares of the financial services provider’s stock worth $199,998,000 after purchasing an additional 6,630 shares in the last quarter. Norges Bank acquired a new stake in shares of LPL Financial during the 4th quarter valued at about $371,616,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of LPL Financial by 56.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 158,783 shares of the financial services provider’s stock valued at $56,713,000 after buying an additional 57,362 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.
Insider Activity In related news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the sale, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.
LPL Financial Trading Down 1.5% NASDAQ:LPLA opened at $354.02 on Friday. The company’s 50 day moving average is $325.27 and its 200-day moving average is $315.54. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 0.60 and a beta of 0.48. LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.39 by $0.45. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.51 EPS. Equities analysts anticipate that LPL Financial Holdings Inc. will post 24.09 EPS for the current year.
LPL Financial Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio is 9.57%.
Wall Street Analysts Forecast Growth A number of research firms recently commented on LPLA. Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. Morgan Stanley lifted their target price on shares of LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. William Blair reissued an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. TD Cowen increased their price target on shares of LPL Financial from $330.00 to $372.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Finally, Wolfe Research restated an “outperform” rating and set a $454.00 price target on shares of LPL Financial in a report on Wednesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $406.69.
Check Out Our Latest Stock Report on LPLA
LPL Financial Company Profile (Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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SAN DIEGO, Aug. 20, 2026 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”) today released its monthly activity report for July 2026.
Total client assets at the end of July were $2.55 trillion, a decrease of $16.1 billion, or 0.6%, compared to the end of June. Advisory assets as a percentage of total assets increased to 60.6%, up from 55.5% a year ago.
Total organic net new assets (“NNA”) for July were $7.4 billion, translating to a 3.5% annualized growth rate.
Total client cash balances at the end of July were $54.3 billion, a decrease of $2.6 billion compared to the end of June. Net buying in July was $14.7 billion.
(End of period $ in billions, unless noted)July June Change July Change 2026 2026 M/M 2025 Y/Y Client Assets Advisory1,544.2 1,548.4 (0.3%)1,077.0 43.4%Brokerage1,002.4 1,014.3 (1.2%)862.4 16.2%Total Client Assets2,546.6 2,562.7 (0.6%)1,939.4 31.3% Organic NNA Advisory10.2 13.3 n/m 7.5 n/m Brokerage(2.8)(2.0)n/m (2.0)n/m Total Organic NNA7.4 11.3 n/m 5.4 n/m Acquired NNA Advisory0.0 0.5 n/m 0.0 n/m Brokerage0.0 0.0 n/m 0.0 n/m Total Acquired NNA0.0 0.5 n/m 0.0 n/m Total NNA Advisory10.2 13.8 n/m 7.5 n/m Brokerage(2.8)(2.0)n/m (2.0)n/m Total NNA7.4 11.8 n/m 5.5 n/m Net brokerage to advisory conversions1.9 2.3 n/m 2.4 n/m Client Cash Balances Insured cash account sweep36.8 38.4 (4.2%)33.7 9.2%Deposit cash account sweep15.0 15.6 (3.8%)10.8 38.9%Total Bank Sweep51.8 54.1 (4.3%)44.4 16.7%Money market sweep1.1 1.1 — %3.4 (67.6%)Total Client Cash Sweep Held by Third Parties52.8 55.2 (4.3%)47.9 10.2%Client cash account1.5 1.7 (11.8%)1.6 (6.3%)Total Client Cash Balances54.3 56.9 (4.6%)49.5 9.7% Net buy (sell) activity14.7 13.1 n/m 13.7 n/m Market Drivers S&P 500 Index (end of period)7,490 7,499 (0.1%)6,339 18.2%Russell 2000 Index (end of period)2,931 3,024 (3.1%)2,212 32.5%Fed Funds daily effective rate (average bps)363 363 —%433 (16.2%) For additional information regarding these and other Company business metrics, please refer to the Company’s most recent earnings announcement, which is available in the quarterly results section of investor.lpl.com.
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”) and LPL Enterprise, LLC (“LPL Enterprise”), both registered investment advisers and broker-dealers. Members FINRA/SIPC.
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 or LPL Enterprise.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
SAN DIEGO, Aug. 20, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Paul McCutchen and Jarod Wesson, AAMS®, of McCutchen Wesson Wealth Advisors, have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. The team reported serving approximately $190 million in advisory, brokerage and retirement plan assets* and joins LPL from Edward Jones.
The advisors are based in Marion, Ark., which is near Memphis, Tenn. and have over 30 years of combined experience. McCutchen Wesson Wealth Advisors serves a diverse client base throughout the Mid-South, including business owners, professionals, retirees and multigenerational families. The team also works closely with farmers and agriculture-related businesses, building long-standing relationships rooted in trust, accessibility and helping clients make informed financial decisions with confidence.
“We've always believed financial advice should be personal and easy to understand,” said McCutchen. “Many of our clients have spent years building businesses and family legacies. They deserve an advisor who takes the time to listen, educate and be there when they need guidance. Our goal is to simplify complex financial topics and help clients stay focused on what matters most to them.”
McCutchen and Wesson each maintain their own client relationships while benefiting from the ability to share ideas and perspectives with one another. Working from the same office, they value having a trusted colleague nearby to discuss opportunities and challenges, helping them continually strengthen the advice and service they provide to clients.
Why McCutchen Wesson Wealth Advisors Chose LPL
The team selected LPL for its breadth of investment solutions, expanded planning capabilities and flexibility to build a business centered around the needs of their clients. They were particularly drawn to the ability to access a wide range of resources while maintaining the independence to shape their practice and client experience.
“LPL gives us access to more tools and capabilities that can support many aspects of our clients’ financial lives,” said Wesson. “From investment and planning solutions to banking and lending resources, the platform helps us provide a more comprehensive experience. It positions us to better serve clients today while creating opportunities to deepen those relationships in the years ahead.”
“For me, this move was about creating something that truly reflects who we are and how we want to serve clients,” said McCutchen. “LPL’s flexibility allows us to build our own philosophy and choose the resources that make the most sense for our clients. That independence gives us the freedom to focus on what they need — and not take a one-size-fits-all approach.”
LPL Chief Growth Officer Marc Cohen said, “Paul and Jarod have built a thoughtful practice rooted in long-standing relationships, client education, and a deep understanding of the communities they serve. We’re excited to welcome McCutchen Wesson Wealth Advisors to LPL and support their growth with the flexibility, planning capabilities and expanded resources that allow advisors to serve clients on their own terms.”
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. McCutchen Wesson Wealth Advisors and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
SAN DIEGO, Aug. 18, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Chris Stockton, CEPA, has joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. Stockton reported serving approximately $160 million in advisory, brokerage and retirement plan assets* and joins LPL from Edward Jones.
Based in Stillwater, Okla., Stockton is the founder of Guidepost Wealth Management and brings seven years of industry experience serving individuals, families, business owners and retirees. A graduate of Oklahoma State University with degrees in finance and management, Stockton built his practice around a simple philosophy: helping clients navigate life’s financial decisions with clarity, confidence and personalized guidance.
“We chose the name Guidepost because our goal is to provide clarity for the path ahead,” Stockton said. “That philosophy is rooted in the principles of Philippians 2:4, which emphasizes putting the interests of others first. Whether we’re helping clients navigate retirement, the sale of a business or another major life transition, our mission is to simplify complex financial decisions and serve people with genuine care.”
Guidepost Wealth Management serves a diverse client base, including business owners, growing families, retirees and individuals navigating significant life transitions. Stockton is particularly passionate about helping clients through complex financial and personal events, from the sale of a business to the loss of a loved one, with a focus on simplifying financial planning and providing support during times of uncertainty.
The practice also includes Administrative Assistant Ashley Mayfield. Stockton’s approach combines comprehensive financial planning with a deeply personal service model. In addition to working with clients on investment and retirement strategies, he regularly assists with broader financial decisions and financial education initiatives within the Stillwater community, including speaking to college students about financial awareness and long-term planning.
Why Chris Stockton Chose LPL
Stockton selected LPL for its combination of independence, stability, advanced technology and robust back-office support. He was particularly drawn to LPL’s scale and long-standing reputation, as well as the ability to access modern planning tools while maintaining the flexibility to serve clients according to his own vision.
“Joining LPL allows me to pair the independence my clients expect with the resources and technology needed to serve them at an even higher level,” Stockton said. “From sophisticated financial planning capabilities to estate planning resources and innovative client solutions, LPL provides the support and flexibility to help me continue growing my practice while staying focused on what matters most — serving my clients.”
"What stands out about Chris is his genuine commitment to helping clients navigate both the financial and personal milestones that shape their lives," said Marc Cohen, chief growth officer at LPL Financial. "He has built Guidepost Wealth Management on a foundation of trust, service and clarity during times of change. We are excited to welcome Chris and Guidepost Wealth Management to LPL and support their continued impact in the Stillwater community."
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. Guidepost Wealth Management and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Empowered Funds LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 32.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,339 shares of the financial services provider’s stock after buying an additional 5,985 shares during the quarter. Empowered Funds LLC’s holdings in LPL Financial were worth $7,322,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of LPL Financial by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after purchasing an additional 1,089 shares during the period. Woodline Partners LP purchased a new position in shares of LPL Financial during the 1st quarter valued at approximately $1,636,000. Focus Partners Wealth increased its holdings in shares of LPL Financial by 12.2% during the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock valued at $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $121,000. 95.66% of the stock is owned by institutional investors and hedge funds.
LPL Financial Price Performance LPL Financial stock opened at $370.67 on Friday. The stock has a market capitalization of $29.19 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.62 and a beta of 0.48. The company’s fifty day moving average price is $319.20 and its 200 day moving average price is $315.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.39 and a current ratio of 2.39. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $400.16.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 earnings per share. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 24.09 earnings per share for the current fiscal year.
LPL Financial Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, August 14th. LPL Financial’s dividend payout ratio is 9.57%.
Insider Transactions at LPL Financial In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the transaction, the director directly owned 13,121 shares of the company’s stock, valued at $4,628,039.12. The trade was a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a report on Friday, July 24th. UBS Group decreased their price objective on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. BMO Capital Markets upped their price objective on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $408.00 to $428.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Morgan Stanley raised their target price on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $406.69.
View Our Latest Stock Report on LPL Financial
LPL Financial Company Profile (Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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SAN DIEGO, Aug. 12, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC concluded Focus 2026, the firm's premier annual conference, by highlighting how its scale, research capabilities and integrated platform help its clients grow more efficiently while preserving the flexibility and personalized experience that define successful financial advisory businesses. The conference's closing sessions focused on how advisors are leveraging LPL's expanding technology, workflows and investment capabilities to grow faster, serve clients more comprehensively and build enduring businesses.
SAN DIEGO, Aug. 12, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Matt Roberts, CFS, CAS, and Kent Voges have joined Frontline Investment Advisors, powered by 15 Wealth, affiliating through LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms. Frontline Investment Advisors and 15 Wealth are existing firms supporting LPL-aligned advisors. Roberts and Voges reported serving approximately $350 million in advisory, brokerage and retirement plan assets* and join from Valic Financial Advisors, now Corebridge Financial.
SAN DIEGO, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Building on the conference theme of Boundless Potential, LPL Financial leaders continued to highlight how technology-enabled efficiency is creating greater capacity for advisors to deliver more personalized, comprehensive wealth management services. CEO Rich Steinmeier reinforced the firm's vision for the future of wealth management, highlighting how technology, human expertise and integrated capabilities are coming together to help advisors deliver more meaningful outcomes for clients.
August 06, 2026 08:55 ET | Source: LPL Financial Holdings, Inc.
SAN DIEGO, Aug. 06, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the financial advisors of Paxel Financial Consulting have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform and will be leveraging Private Advisor Group’s infrastructure for the next stage of their growth. Led by Founder Chin Po, CPA, the team reported serving approximately $300 million in advisory, brokerage and retirement plan assets* and joins LPL from Cetera.
Founded in 1989, Paxel Financial Consulting has built its reputation on providing comprehensive guidance that integrates financial planning, estate planning and life planning. The firm's advisors leverage their backgrounds to help clients make informed financial decisions through a coordinated and planning-efficient approach.
"We believe the best financial advice begins with understanding the complete picture of a client's life," said Po. "By combining financial planning and estate planning, we help clients pursue their goals with greater confidence and clarity. For many of the families we serve, especially those navigating the challenges of immigration and cross-border financial complexities, having an advisor who understands their unique circumstances can make a meaningful difference in their lives."
The Paxel Financial Consulting team also includes financial advisors Young Po, Harry Lee, CPA, Jim Xu, CPA, and Gary Jiang, CPA. Together, the team collaborates across disciplines to provide integrated advice tailored to each client's needs and long-term goals.
Why Paxel Financial Consulting Chose LPL
Paxel Financial Consulting selected LPL to enhance the client experience through expanded technology, greater flexibility and access to a broad range of investment and business solutions. The team was especially attracted to LPL’s ability to support independent advisors while allowing them to continue delivering independent, personalized guidance.
"LPL provides the flexibility, technology and resources that will help us continue elevating the value we bring to our clients," said Po. "We believe this move strengthens our ability to deliver comprehensive advice while maintaining the independence that is central to our philosophy and the relationships we've built over the years."
"The demand for holistic financial advice continues to grow, and Paxel's integrated approach is a strong example of that trend. We're thrilled to welcome the team and alongside LPL support what's next in their journey," added David Bogdanov, business development consultant from Private Advisor Group.
Marc Cohen, chief growth officer at LPL Financial, said, "We welcome Chin Po and the Paxel Financial Consulting team to LPL. For decades, they have built a valuable practice centered on comprehensive planning, deep relationships and a commitment to serving the unique needs of their clients. Their integrated approach to estate and financial planning aligns well with LPL's commitment to helping advisors deliver differentiated value, and we look forward to supporting their continued growth."
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Paxel Financial Consulting, Private Advisor Group and LPL Financial are separate entities.
LPL Financial does not offer tax advice or tax preparation services.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
August 05, 2026 08:55 ET | Source: LPL Financial Holdings, Inc.
SAN DIEGO, Aug. 05, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Don A. Harrell, CFP® of WestKai Private Wealth has joined LPL Financial’s supported independence model, LPL Strategic Wealth. Harrell’s team reported serving approximately $400 million in advisory, brokerage and retirement plan assets* and joins LPL from Morgan Stanley.
Based in San Clemente, Calif., WestKai Private Wealth was founded by Harrell, who serves as CEO and private wealth manager. The team also includes Private Wealth Advisor Blake Davidson and Client Services Manager Cate Harrell. They serve individuals and families, pre-retirees and retirees, corporate executives, entrepreneurs, business owners and professional athletes. WestKai Private Wealth helps clients navigate life’s financial decisions through comprehensive planning and personalized wealth management.
Harrell founded WestKai Private Wealth to better serve the clients he has grown close to over the years, seeking greater independence, expanded resources and the ability to deliver an even more personalized client experience. The firm is built around a relationship-first philosophy centered on helping clients make thoughtful financial decisions that support their families, goals and legacies.
“We believe the best financial relationships are built over time through trust, communication and genuine care,” said Harrell. “Our clients deserve a team that is fully invested in understanding their lives and serving as a resource for every important financial decision. Launching WestKai Private Wealth allows us to strengthen those relationships while building a firm that reflects our values and long-term vision for serving clients.”
WestKai Private Wealth provides retirement planning, account management, comprehensive financial services, estate and legacy planning, alternative investment access and lending solutions. The firm aims to be a trusted partner for clients through every stage of life, helping them coordinate complex financial matters while maintaining a clear focus on what matters most to them.
Why They Chose LPL Strategic Wealth
The team chose LPL Strategic Wealth to enhance the client experience through greater flexibility, broader access to resources and advanced technology.
“We made this move to better serve our clients,” Harrell said. “LPL’s technology, investment platform and commitment to advisor independence give us the flexibility to deliver more personalized advice and a broader range of solutions. We believe this partnership positions us to continue evolving alongside our clients’ needs while maintaining the high standard of care they expect from us.”
In addition to having access to LPL’s comprehensive wealth management platform and sophisticated resources, Strategic Wealth advisors benefit from an integrated service that includes simplified pricing, technology and dedicated support to launch their practice. After the transition is complete, Strategic Wealth teams receive ongoing operations support managed by a team of experienced professionals, including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice.
“We welcome Don, Blake and Cate to the LPL Strategic Wealth community,” said Marc Cohen, chief growth officer at LPL Financial. “WestKai Private Wealth was built with a clear purpose: to give clients a more personal, connected and deeply intentional wealth management experience. Don’s vision for the firm reflects the kind of entrepreneurship we’re proud to support at LPL — advisors creating businesses that are true to who they are, the communities they serve and the relationships they’ve built over time. We look forward to helping the WestKai Private Wealth team continue bringing that vision to life in this next chapter.”
WestKai Private Wealth’s name reflects the firm’s roots and values. “West” honors the team’s connection to communities along the Pacific Coast, while “Kai,” the Hawaiian word for sea, represents depth, connection and stewardship. Together, the name reflects the firm’s commitment to family, community and caring for clients’ wealth over the long term.
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Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. WestKai Private Wealth and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
Bank of America Corp DE raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 803,428 shares of the financial services provider’s stock after acquiring an additional 7,257 shares during the period. Bank of America Corp DE owned approximately 1.00% of LPL Financial worth $241,695,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in LPL Financial during the fourth quarter worth about $450,493,000. M&T Bank Corp increased its holdings in shares of LPL Financial by 27,955.5% during the 4th quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider’s stock valued at $407,538,000 after purchasing an additional 1,136,952 shares in the last quarter. Norges Bank acquired a new position in shares of LPL Financial in the 4th quarter valued at $371,616,000. Capital World Investors boosted its holdings in LPL Financial by 37.9% during the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock worth $1,294,869,000 after buying an additional 996,806 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in LPL Financial by 36.3% during the first quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider’s stock valued at $793,163,000 after buying an additional 702,061 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price target on shares of LPL Financial from $300.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group reduced their price target on shares of LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group lowered their price objective on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, April 6th. William Blair reissued an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. Finally, Morgan Stanley raised their target price on LPL Financial from $374.00 to $387.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.54.
View Our Latest Research Report on LPLA
LPL Financial Price Performance NASDAQ:LPLA opened at $360.35 on Tuesday. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16. The stock has a market cap of $28.82 billion, a PE ratio of 28.74, a P/E/G ratio of 0.68 and a beta of 0.48. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a 50 day moving average price of $303.25 and a 200 day moving average price of $315.90.
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.84 earnings per share for the quarter, topping analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.80% and a net margin of 5.13%.The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the previous year, the company posted $4.51 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities research analysts expect that LPL Financial Holdings Inc. will post 23.58 EPS for the current fiscal year.
LPL Financial Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is currently 9.57%.
Insider Activity In related news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the sale, the director directly owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
About LPL Financial (Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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SAN DIEGO , Aug. 04, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced that LPL Research has launched a new suite of Building Block Model Portfolios, expanding its model portfolio platform to more than 70 offerings. Designed to provide advisors with greater flexibility in portfolio construction, the new models can be combined to create customized investment solutions tailored to a broad range of client objectives. The launch reflects LPL Research's continued investment in portfolio innovation and comes as its model portfolio platform surpassed $100 billion in assets under management (AUM).
Introducing Building Block Model Portfolios
LPL Research has introduced 17 Building Block Model Portfolios designed to provide advisors with greater portfolio construction flexibility. The new models include single-asset mutual fund, ETF and SMA strategies across equities, fixed income and alternatives.
The models can be used independently or combined within Unified Managed Account (UMA) structures, enabling advisors to build tailored portfolios aligned with clients' investment objectives and risk preferences.
“The introduction of our building block model portfolios enhances the flexibility and choice we provide to advisors and institutions,” said LPL Chief Investment Officer Marc Zabicki. “Grounded in our research and asset allocation expertise, these modular solutions are designed to help build more personalized portfolios and adapt investment strategies to reflect evolving client needs.”
Growing Adoption of LPL Research Models
The launch comes as LPL Research's model portfolio platform surpasses $100 billion in AUM (as of February 2026), reflecting continued advisor adoption of professionally managed investment solutions. The milestone underscores the platform's growth and the increasing demand for model-based portfolio management across advisory practices.
“Surpassing $100 billion in model portfolio assets reflects the strength of our investment platform, the performance of our strategies and the trust advisors place in our team,” said LPL Chief Wealth Officer Aneri Jambusaria. “When we pursue strong investment outcomes, our community is better positioned to help clients pursue their financial goals. That impact extends to the more than 8 million Americans served through the LPL platform, and it remains at the center of everything we do.”
Expanding Portfolio Construction Capabilities
The Building Block Model Portfolios are designed to give advisors greater control over portfolio design through a modular approach that spans equities, fixed income and alternatives. Used individually or within UMA structures, the models allow advisors to create more customized investment strategies while benefiting from the ongoing oversight and expertise of LPL Research.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC.
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.
There is no assurance that advisory model portfolios are suitable for all investors or will yield positive outcomes.
The purchase of certain securities will be required to affect some of the strategies. Investing involves risks, including possible loss of principal. This material is general information only and is not intended to provide specific advice or recommendations for your clients.
Advisory accounts may not be appropriate for every investor. A brokerage account may be more appropriate if your client prefers a buy-and-hold strategy.
Stephen Mandel’s Lone Pine Capital just showed its hand. The latest 13F filing, dated March 31, and filed May 15, reveals five U.S.-listed positions that collectively map the exact trades hedge funds are chasing right now: AI power, semiconductor CapEx, aerospace materials, wealth consolidation and ad-tech AI. One of them has run 99.03% in the last year, and the punchline pick just tore through a billion-dollar buyback in a single quarter.
1. Carpenter Technology (CRS): The Surprise Pick Buried in Every Jet Engine Start with the name most investors overlook. Carpenter Technology (NYSE:CRS | CRS Price Prediction) forges the specialty alloys that go into jet engines, missile systems, and medical implants. When Boeing and Airbus ramp production and defense budgets swell, Carpenter’s Specialty Alloys segment prints money. Mandel is buying the shovel maker to the aerospace super-cycle.
The Q3 FY26 report was a statement. Revenue landed at $811.5 million, up 11.6% year over year and beating consensus by 1.75%, while SAO adjusted operating margins expanded to 35.6% from 29.1%, the 17th straight quarter of margin expansion. Management then raised full-year FY26 operating income guidance to $700 million to $705 million, with CEO Tony Thene calling Aerospace and Defense “at the beginning of the growth cycle.”
The stock has already responded: up 53% this year and nearly 108% over the past year, with eight Buy or Strong Buy ratings against one Hold rating and an analyst target of $571.33. Forward P/E sits at 23x, reasonable for a business with a raised guide and a cycle that management says has not peaked. Sentiment reads bullish at 60.1. Read: the re-rating has largely played out, and further upside now hinges on continued guide raises. The next pick is where megawatts meet market cap.
2. Vistra (VST): The AI Power Trade Mandel Isn’t Selling Vistra (NYSE:VST) is the purest listed bet on the collision between hyperscaler AI buildouts and a US grid that can’t add nuclear or gas capacity fast enough. Meta, AWS, and Microsoft are locking down decades of dispatchable megawatts, and Vistra is on the sell side of that trade with nuclear and natural gas fleet already in place.
Q1 FY26 revenue hit $5.64 billion, beating estimates by 7.58%, while East segment adjusted EBITDA jumped to $801 million from $514 million a year earlier on higher capacity prices and the Lotus acquisition. The pending 5,500-MW Cogentrix natural gas acquisition targeted to close in the second half of 2026 and 20-year Meta PPAs for more than 2,600 MW across PJM nuclear facilities are not yet baked into the 2026 adjusted EBITDA guide of $6.8 billion to $7.6 billion.
Here’s the wrinkle: shares are down 29% over the past year and down 10% year to date, even as sentiment sits bullish at 65.38. That is the setup: fundamentals accelerating, price consolidating. If Cogentrix closes on schedule, the 2027 midpoint opportunity of $7.4 billion to $7.8 billion gets an upside revision. Now for the name that supplies the machines that make the chips that fill Vistra’s data centers.
3. ASML: The Semiconductor CapEx Supercycle in One Ticker ASML (NASDAQ:ASML) has a monopoly on EUV lithography. Every leading-edge AI chip from TSMC, Samsung, and Intel goes through an ASML machine. When hyperscaler capex explodes, ASML’s order book follows with a lag, and that lag is finally closing.
Q2 FY26 revenue came in at $10.65 billion, up 21.25% year over year and above the high end of guidance, with EPS of $8.67 and operating margin expanding to 37.1% from 34.6%. Management then raised FY26 revenue guidance to $49.11 billion to $51.4 billion and outlined plans to add 30% to 2026 low-NA EUV capacity for 2027, with another 30% under investigation for 2028. CEO Christophe Fouquet flagged “AI-related investments driving demand for advanced Logic and Memory chips” as customers accelerate capacity plans.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and ASML didn't make the cut. Grab the names FREE today.
The stock is up 138.06% over the past year and 42.11% year to date. Sentiment reads neutral at 59.32, but the 30-day trend has climbed 17.69 points. This is a hold-your-winners setup. The buy case now depends on 2027 orders converting, and they are. Next, we pivot from silicon to the platforms that manage the money silicon is minting.
4. LPL Financial (LPLA): The Wealth Consolidation Machine LPL Financial (NASDAQ:LPLA) is the country’s largest independent broker-dealer, and Mandel is playing the endgame of wealth management consolidation. The Commonwealth Financial integration is on track for Q4 2026 with expected asset retention of roughly 90%. That is the catalyst.
Q1 FY26 delivered adjusted EPS of $5.60 versus $5.47 consensus, a fourth consecutive beat, on revenue of $4.94 billion, up 34.6% year over year. Advisory revenue grew 55% to $2.62 billion, and total client assets reached $2.34 trillion, up 30% year over year, with advisory now 59.5% of the mix versus 54.5% a year ago. CEO Rich Steinmeier called it “record earnings per share” with Commonwealth prep underway.
Shares are down 2.48% YTD and 10.88% over the past year, but up 25.2% in the past month, with the analyst target at $413.71 against 13 Buy or Strong Buy ratings and three Hold ratings. Forward P/E is 13x, cheap for a business compounding advisory assets at 42%. Sentiment is neutral at 44.47, meaning the market has not yet priced in Commonwealth’s Q4 integration. That is the window. Now for the payoff.
5. AppLovin (APP): The Highest-Margin Payoff on the List AppLovin (NASDAQ:APP) is what happens when AI eats digital advertising. After divesting its games business, AppLovin is a pure-play ad-tech platform running on the AXON 2 engine, and the operating leverage is unlike anything else in Mandel’s book.
Q1 FY26 revenue reached $1.84 billion, up 24.15% year over year and beating consensus by 3.78%. But the real story is the margin stack: operating income of $1.44 billion at a 78% operating margin, adjusted EBITDA of $1.56 billion at 85% margin, up from 81%, and free cash flow of $1.29 billion. Then the capital return: $1.0 billion returned via buybacks in Q1 alone, retiring 2.2 million shares.
Here is the tension: shares are down 37.12% year to date but flat over the past year, even as 29 of 32 analysts rate it a Buy or Strong Buy with a price target of $654.60. Forward P/E is 29x. Sentiment reads neutral at 56.84 after cooling from 64.51 a month ago. The drawdown is the reason this is the payoff pick, with fundamentals still intact. Mandel is holding through it.
The Setup Mandel’s five names trace a single macro thesis: AI infrastructure needs power (Vistra), power needs chips (ASML), chips need alloys (Carpenter), the wealth those trades create needs a home (LPL) and the platforms selling to that wealth compound fastest (AppLovin). Three of the five are trading below where they should be given the guides on the table. The window before the next earnings cycle re-rates them is measured in weeks, not quarters.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and ASML didn't make the cut. Grab the names FREE today.
Key Takeaways LPLA's Q2 adjusted EPS rose 29% y/y to $5.84, beating estimates as revenue reached $5.05 billion.Advisory revenues surged 53% y/y, while advisory assets increased 46% to $1.55 trillion.LPLA raised its buyback authorization by $2.5 billion after repurchasing $309 million of shares in Q2. LPL Financial Holdings Inc.’s (LPLA - Free Report) second-quarter 2026 adjusted earnings of $5.84 per share surpassed the Zacks Consensus Estimate of $5.39. The bottom line grew 29% year over year.
Results reflected continued scale benefits, highlighted by strong revenue growth and an increase in total client assets. Growth in gross profit also supported the quarterly performance. However, rising expenses partly offset these positives.
After considering non-recurring items, net income was $379.3 million or $4.74 per share, up from $273.2 million or $3.40 per share in the prior-year quarter.
LPLA’s Revenue Mix Benefits From Advisory GrowthQuarterly revenues came in at $5.05 billion, up from $3.75 billion in the year-ago quarter. The top line marginally surpassed the consensus estimate of $5.03 billion.
Advisory revenues soared 53% year over year to $2.63 billion, remaining the largest contributor to the top line. Total commissions increased 19% to $1.23 billion, supported by a 17% increase in sales-based commissions and a 20% gain in trailing commissions compared with the prior-year period.
Asset-based revenues totaled $835.1 million, up 19% year over year, as client cash revenues climbed 12% year over year to $443.5 million and other asset-based revenues advanced 28% year over year to $391.6 million. Service and fee revenues surged 38% year over year to $208.9 million, while transaction revenues improved 37% to $83.2 million.
LPL Financial Sees Gross Profit ExpansionLPL Financial’s gross profit rose 24% from a year ago to $1.62 billion, benefiting from higher advisory revenues and growth across attachment revenue streams.
LPLA’s production-based payout totaled $3.38 billion, reflecting growth in advisor activity and the economics tied to advisory and commission revenues. The payout rate was 87.44%, up slightly from 87.33% in the year-ago quarter.
LPLA’s Costs Rise as Core G&A ClimbsTotal expenses increased 35% year over year to $4.67 billion, illustrating the cost of supporting the company’s expanded revenue and asset base. Advisory and commission expenses climbed 41% year over year to $3.51 billion.
Beyond production-related costs, several corporate expense categories moved higher. Additionally, G&A increased 22% year over year to $519.3 million, highlighting continued investment in capabilities and scale initiatives.
LPL Financial Delivers Solid Asset FlowsLPL Financial ended the quarter with $2.56 trillion of total client assets, up 34% from the prior-year period. Advisory assets rose 46% to $1.55 trillion and represented 60.4% of total client assets. Brokerage assets grew 18% from the prior-year quarter to $1.01 trillion.
Asset flows remained positive. Total organic net new assets were $23.1 billion, representing a 4% annualized growth rate. Within that, advisory organic net new assets totaled $30.2 billion, while brokerage organic net new assets were negative $7.1 billion.
Recruited assets were $24.9 billion, up 35% from the year-ago quarter. Recruited assets over the trailing 12 months totaled approximately $89 billion, indicating a larger pipeline over a longer horizon.
LPLA Updates 2026 Expense Outlook and Capital PlansOn the outlook front, LPLA lowered its 2026 Core G&A guidance to the range of $2.140-$2.165 billion, including expenses related to the Commonwealth Financial Network acquisition.
Capital actions also remained in focus. The company repurchased $309 million worth of shares during the second quarter and plans approximately $300 million of repurchases during the third quarter. On July 23, 2026, the board approved a $2.5-billion increase in the company’s share-repurchase authorization.
LPLA declared a quarterly dividend of 30 cents per share, which will be paid on Aug. 28, 2026, to shareholders of record as of Aug. 14.
On M&A execution, LPLA’s Commonwealth conversion remains on track for the fourth quarter of 2026, with expected asset retention of approximately 90%. The estimated run-rate EBITDA contribution increased to $435 million from $410 million.
The company also completed its acquisition of Mariner Advisor Network, adding 367 advisors managing approximately $31 billion in client assets. In addition, LPLA continued to deploy capital through its Liquidity & Succession program, investing roughly $21 million across four transactions during the quarter.
Our View on LPL FinancialLPL Financial’s expanding advisory asset base, solid recruiting activity and positive organic asset flows supported strong revenue and earnings growth in the quarter. Continued progress on the Commonwealth conversion, the Mariner Advisor Network acquisition and capital deployment initiatives may further strengthen the company’s scale and growth prospects. However, rising expenses, including higher advisory and commission costs, partly offset the benefits of revenue growth.
LPL Financial Holdings Inc. Price, Consensus and EPS SurpriseCurrently, LPL Financial carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of LPLA’s PeersInteractive Brokers Group’s (IBKR - Free Report) second-quarter 2026 adjusted earnings per share of 69 cents surpassed the Zacks Consensus Estimate of 64 cents. The bottom line reflected a rise of 35.3% from the prior-year quarter.
IBKR’s results were primarily aided by an increase in revenues, growth in customer accounts and a rise in daily average revenue trades. However, higher expenses were the undermining factor.
Charles Schwab’s (SCHW - Free Report) second-quarter 2026 adjusted earnings of $1.62 per share outpaced the Zacks Consensus Estimate of $1.53. The bottom line soared 42% year over year.
SCHW’s results benefited from the robust performance of the asset management business and record trading revenues. Higher net interest revenues and solid brokerage account numbers were other positives. However, an increase in expenses was the undermining factor.
LPL Finl reported quarterly earnings of $5.60 per share which beat the analyst consensus estimate of $5.40 per share. The company reported quarterly sales of $5.186 billion which beat the analyst consensus estimate of $4.995 billion.
LPL Financial shares gained 4.6% to $355.00 in pre-market trading.
These analysts made changes to their price targets on LPL Financial following earnings announcement.
Keefe, Bruyette & Woods analyst Chris Allen maintained the stock with an Outperform rating and raised the price target from $365 to $390. Barclays analyst Benjamin Budish maintained the stock with an Overweight rating and raised the price target from $394 to $401. Considering buying LPLA stock? Here’s what analysts think:
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LPL Financial Holdings Inc. (LPLA) Q2 2026 Earnings Call July 30, 2026 5:00 PM EDT
Company Participants
Richard Steinmeier - CEO & Director
Matthew Audette - President & CFO
Conference Call Participants
Alexander Blostein - Goldman Sachs Group, Inc., Research Division
Steven Chubak - Wolfe Research, LLC
Daniel Fannon - Jefferies LLC, Research Division
Devin Ryan - Citizens JMP Securities, LLC, Research Division
Y. Cho - JPMorgan Chase & Co, Research Division
Craig Siegenthaler - BofA Securities, Research Division
Michael Brown - UBS Investment Bank, Research Division
Brennan Hawken - BMO Capital Markets Equity Research
Michael Cyprys - Morgan Stanley, Research Division
Benjamin Budish - Barclays Bank PLC, Research Division
Jeffrey Schmitt - William Blair & Company L.L.C., Research Division
William Katz - TD Cowen, Research Division
Presentation
Operator
Good afternoon, and thank you for joining the Second Quarter 2026 Earnings Conference Call for LPL Financial Holdings Inc. Joining the call today are Chief Executive Officer, Rich Steinmeier; and President and Chief Financial Officer, Matt Audette. Rich and Matt will offer introductory remarks, and then the call will be open for questions.
[Operator Instructions]
The company has posted its earnings press release and supplementary information on the Investor Relations section of the company's website, investor.lpl.com.
Today's call will include forward-looking statements, including statements about LPL Financial's future financial and operating results, outlook, business strategies and plans as well as other opportunities and potential risks that management foresees. Such forward-looking statements reflect management's current estimates or beliefs and are subject to known and unknown risks and uncertainties that may cause actual results or the timing of events to differ materially from those expressed or implied in such forward-looking statements. For more information about such risks and uncertainties, the company refers listeners to disclosures set forth under the caption Forward-Looking Statements in the earnings press release as well as the risk factors and other disclosures contained in the
For the quarter ended June 2026, LPL Financial Holdings Inc. (LPLA - Free Report) reported revenue of $5.05 billion, up 34.5% over the same period last year. EPS came in at $5.84, compared to $4.51 in the year-ago quarter.
The reported revenue represents a surprise of +0.31% over the Zacks Consensus Estimate of $5.03 billion. With the consensus EPS estimate being $5.39, the EPS surprise was +8.35%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how LPL Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Advisory and Brokerage Assets - Brokerage assets: $1,014.30 billion versus $963.52 billion estimated by three analysts on average.Advisory and Brokerage Assets - Total: $2,562.70 billion versus $2,411.01 billion estimated by three analysts on average.Advisory and Brokerage Assets - Advisory assets: $1,548.40 billion versus $1,447.46 billion estimated by three analysts on average.Advisors: 32,475 versus 32,219 estimated by three analysts on average.Revenue- Commission- Total: $1.23 billion versus the four-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +18.7%.Revenue- Service and fee: $208.88 million versus the four-analyst average estimate of $202.83 million. The reported number represents a year-over-year change of +37.6%.Revenue- Asset-based - Client cash: $443.5 million versus $463.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.Revenue- Asset-based- Total: $835.14 million compared to the $848.04 million average estimate based on four analysts. The reported number represents a change of +18.9% year over year.Revenue- Transaction: $83.22 million versus $88.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +37.5% change.Revenue- Asset-based - Other asset-based: $391.64 million versus the four-analyst average estimate of $384.57 million. The reported number represents a year-over-year change of +28.4%.Revenue- Advisory: $2.63 billion compared to the $2.64 billion average estimate based on four analysts. The reported number represents a change of +53.3% year over year.Revenue- Commission- Sales-based: $728.16 million versus $712.84 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.5% change.View all Key Company Metrics for LPL Financial here>>>
Shares of LPL Financial have returned +15.2% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
LPL Financial Holdings Inc. (LPLA - Free Report) came out with quarterly earnings of $5.84 per share, beating the Zacks Consensus Estimate of $5.39 per share. This compares to earnings of $4.51 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +8.35%. A quarter ago, it was expected that this company would post earnings of $5.49 per share when it actually produced earnings of $5.6, delivering a surprise of +2%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
LPL Financial, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $5.05 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.31%. This compares to year-ago revenues of $3.75 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
LPL Financial shares have lost about 5.4% since the beginning of the year versus the S&P 500's gain of 6.9%.
What's Next for LPL Financial?While LPL Financial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for LPL Financial was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $5.85 on $5.32 billion in revenues for the coming quarter and $23.38 on $20.71 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Investment Bank is currently in the top 9% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Independence Realty Trust (IRT - Free Report) , another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 3.
This real estate investment trust is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -3.6%. The consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level.
Independence Realty Trust's revenues are expected to be $169.18 million, up 4.3% from the year-ago quarter.
Net income was $379 million, translating to diluted earnings per share ("EPS") of $4.74, up 39% from a year ago Adjusted EPS* increased 29% year-over-year to $5.84 Gross profit* increased 24% year-over-year to $1,618 millionCore G&A* increased 22% year-over-year to $519 millionAdjusted pre-tax income* increased 30% year-over-year to $635 million
Key Business Results
Total client assets increased 34% year-over-year to $2.6 trillion Advisory assets increased 46% year-over-year to $1.5 trillionAdvisory assets as a percentage of total client assets increased to 60.4%, up from 55.3% a year ago Total organic net new assets were $23 billion, representing 4% annualized growthRecruited assets(1) were $25 billion, up 35% from a year ago Recruited assets over the trailing twelve months were $89 billion Total client cash balances were $57 billion, a decrease of $2 billion sequentially and an increase of $6 billion year-over-year Client cash balances as a percentage of total client assets were 2.2%, down from 2.5% in the prior quarter and 2.6% in the prior year Key Capital and Liquidity Measures
Corporate cash(2) was $430 millionLeverage ratio(3) was 1.91xShare repurchases were $309 million and dividends paid were $24 million
Key Updates
M&A:
Commonwealth Financial Network ("Commonwealth"): On track to complete the conversion in the fourth quarter of 2026 Continue to expect asset retention of approximately 90%Estimated run-rate EBITDA has increased from $410 million to $435 million Mariner Advisor Network: Closed on the acquisition of Mariner Advisor Network, an LPL branch office supporting 367† advisors who collectively manage $31 billion† of client assets As part of this transaction, approximately 223 advisors remain directly affiliated with LPL, and approximately 144 hybrid advisors have transitioned to Private Advisor Group's hybrid RIA model Liquidity & Succession: Deployed approximately $21 million of capital to close four deals in Q2, including one external practice Core G&A:
Given our performance to date, we are lowering our 2026 Core G&A* outlook range to $2,140-2,165 million, including expenses related to Commonwealth
Capital Management:
Share Repurchases: Resumed our share repurchase program, with $309 million repurchased during the second quarter and approximately $300 million planned for the third quarterRepurchase Authorization: On July 23, 2026, the Board approved a $2.5 billion increase to the Company's share repurchase authorizationDividend: The Company's Board of Directors declared a $0.30 per share dividend to be paid on August 28, 2026 to all stockholders of record as of August 14, 2026.
SAN DIEGO, July 30, 2026 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the "Company") today announced results for its second quarter ended June 30, 2026, reporting net income of $379 million, or $4.74 per share. This compares with net income of $273 million, or $3.40 per share, in the second quarter of 2025 and net income of $356 million, or $4.43 per share, in the prior quarter.
"After an outstanding start to the year, we continued our momentum in the second quarter, delivering another quarter of strong performance and results," said Rich Steinmeier, CEO. "We remain focused on our strategic priorities, and are on track to onboard Commonwealth later this year. Underscoring the exceptional work and dedication of our teams, JD Power recognized both Commonwealth and LPL as the top-ranked firms for independent advisor satisfaction. This is a reflection of the complementary cultures we're bringing together and the unparalleled value we deliver to advisors and their clients."
"The team delivered another quarter of remarkable results, highlighted by record adjusted earnings per share and further progress driving improved operating leverage," said Matt Audette, President and CFO. "We achieved this while deploying capital across our entire framework, including continuing to invest in organic and inorganic growth and resuming share repurchases."
Conference Call and Additional Information
The Company will hold a conference call to discuss its results at 5:00 p.m. ET on Thursday, July 30, 2026. The conference call will be accessible and available for replay at investor.lpl.com/events.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace(4), LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC ("LPL Financial") or its affiliate LPL Enterprise, LLC ("LPL Enterprise"), both registered investment advisers and broker-dealers. Members FINRA/SIPC.
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 or LPL Enterprise.
We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.
† Value approximated based on asset and holding details provided to LPL from March 31, 2026.
Forward-Looking Statements
This press release contains statements regarding:
the Company’s retention of Commonwealth assets and Commonwealth’s future financial and operating performance;run-rate EBITDA expectations in connection with the Company’s acquisition of Commonwealth;the amount and timing of the onboarding of acquired, recruited or transitioned brokerage and advisory assets, including Commonwealth;the Company's plans to invest to drive growth and increase efficiency while scaling its business;the Company’s recruitment pipeline and expected organic growth;the Company's future financial and operating results, growth, plans, priorities and business strategies, including forecasts and statements related to the Company's ICA yield, service and fee revenue, transaction revenue, core G&A expense, interest expense and income, leverage ratio (including plans to reduce leverage), pricing and fees (including their effect on adjusted pre-tax margin), corporate cash, run-rate EBITDA, depreciation and amortization, operating leverage, pre-tax margin, transition assistance loan amortization, organic growth, payout rate, tax rate and share repurchases; andfuture capabilities, future advisor service experience, future investments and capital deployment, including share repurchase activity and dividends, if any, and long-term shareholder value.
These and any other statements that are not related to present facts or current conditions, or that are not purely historical, constitute forward-looking statements. They reflect the Company's expectations and objectives as of July 30, 2026 and are not guarantees that expectations or objectives expressed or implied will be achieved. The achievement of such expectations and objectives involves risks and uncertainties that may cause actual results, levels of activity or the timing of events to differ materially from those expressed or implied by forward-looking statements. Important factors that could cause or contribute to such differences include:
difficulties and delays in onboarding the assets of acquired, recruited or transitioned advisors, including the receipt and timing of regulatory approvals that may be required;disruptions in the businesses of the Company and Commonwealth that could make it more difficult to maintain relationships with advisors and their clients;the choice by clients of acquired or recruited advisors not to open brokerage and/or advisory accounts at the Company;changes in general economic and financial market conditions, including retail investor sentiment;changes in interest rates and fees payable by banks participating in the Company's client cash programs, including the Company's success in negotiating agreements with current or additional counterparties;the Company's strategy and success in managing client cash program fees;fluctuations in the levels of advisory and brokerage assets, including net new assets, and the related impact on revenue;effects of competition in the financial services industry and the success of the Company in attracting and retaining financial advisors and institutions, and their ability to provide financial products and services effectively;whether retail investors served by newly-recruited advisors choose to move their respective assets to new accounts at the Company;changes in the growth and profitability of the Company's fee-based offerings and asset-based revenues;the effect of current, pending and future legislation, regulation and regulatory actions, including disciplinary actions imposed by federal and state regulators and self-regulatory organizations;the cost of defending, settling and remediating issues related to regulatory matters or legal proceedings, including civil monetary penalties or actual costs of reimbursing customers for losses in excess of our reserves or insurance;changes made to the Company's services and pricing, including in response to competitive developments and current, pending and future legislation, regulation and regulatory actions, and the effect that such changes may have on the Company’s gross profit streams and costs;the execution of the Company's capital management plans, including its compliance with the terms of the Company's amended and restated credit agreement, the committed revolving credit facilities of the Company and LPL Financial, and the indentures governing the Company's senior unsecured notes;strategic acquisitions and investments, including pursuant to the Company's Liquidity & Succession solution, and the effect that such acquisitions and investments may have on the Company’s capital management plans and liquidity;the price, availability and trading volumes of shares of the Company's common stock, which will affect the timing and size of future share repurchases by the Company, if any;the execution of the Company's plans and its success in realizing the synergies, expense savings, service improvements or efficiencies expected to result from its investments, initiatives and acquisitions, expense plans and technology initiatives;whether advisors affiliated with Commonwealth will transition registration to the Company and whether assets reported as serviced by such financial advisors will translate into assets of the Company;the performance of third-party service providers to which business processes have been transitioned;the Company's ability to control operating risks, information technology systems risks, cybersecurity risks and sourcing risks; andthe other factors set forth in the Company's most recent Annual Report on Form 10-K, as may be amended or updated in the Company's Quarterly Reports on Form 10-Q or other filings with the Securities and Exchange Commission.
Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this earnings release, and you should not rely on statements contained herein as representing the Company's view as of any date subsequent to the date of this press release.
LPL Financial Holdings Inc.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Three Months Ended Three Months Ended June 30,March 31, June 30, 2026
2026
Change2025
ChangeREVENUE Advisory$2,632,405$2,615,047 1%$1,717,73853%Commission: Sales-based 728,155 705,415 3% 619,79217%Trailing 503,918 486,619 4% 418,29520%Total commission 1,232,073 1,192,034 3% 1,038,08719%Asset-based: Client cash 443,501 445,325 —% 397,33212%Other asset-based 391,643 375,480 4% 305,01528%Total asset-based 835,144 820,805 2% 702,34719%Service and fee 208,879 210,984 (1%) 151,83938%Transaction 83,216 80,542 3% 60,54137%Interest income, net 46,527 45,180 3% 76,941(40%)Other 148,379 (26,158)n/m 87,53270%Total revenue 5,186,623 4,938,434 5% 3,835,02535%EXPENSE Advisory and commission 3,507,164 3,291,209 7% 2,483,16541%Compensation and benefits 355,612 368,740 (4%) 319,10011%Promotional 220,030 208,400 6% 177,55224%Occupancy and equipment 125,542 118,523 6% 81,44354%Depreciation and amortization 109,805 105,751 4% 96,23114%Interest expense on borrowings 101,502 100,292 1% 105,636(4%)Amortization of other intangibles 70,886 67,230 5% 46,10354%Brokerage, clearing and exchange 52,018 55,475 (6%) 43,29020%Professional services 50,757 50,381 1% 41,09224%Communications and data processing 26,200 23,467 12% 21,41722%Other 51,603 64,382 (20%) 51,1921%Total expense 4,671,119 4,453,850 5% 3,466,22135%INCOME BEFORE PROVISION FOR INCOME TAXES 515,504 484,584 6% 368,80440%PROVISION FOR INCOME TAXES 136,243 128,180 6% 95,55543%NET INCOME$379,261$356,404 6%$273,24939%EARNINGS PER SHARE Earnings per share, basic$4.75$4.45 7%$3.4239%Earnings per share, diluted$4.74$4.43 7%$3.4039%Weighted-average shares outstanding, basic 79,791 80,113 —% 79,984—%Weighted-average shares outstanding, diluted 80,032 80,446 (1%) 80,373—% LPL Financial Holdings Inc.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Six Months Ended June 30, 2026
2025
ChangeREVENUE Advisory$5,247,452$3,406,98354%Commission: Sales-based 1,433,570 1,229,83017%Trailing 990,537 856,01416%Total commission 2,424,107 2,085,84416%Asset-based: Client cash 888,826 789,36313%Other asset-based 767,123 608,22526%Total asset-based 1,655,949 1,397,58818%Service and fee 419,863 297,03841%Transaction 163,758 128,40528%Interest income, net 91,707 120,792(24%)Other 122,221 68,38279%Total revenue 10,125,057 7,505,03235%EXPENSE Advisory and commission 6,798,373 4,837,09041%Compensation and benefits 724,352 624,64616%Promotional 428,430 323,19733%Occupancy and equipment 244,065 158,68354%Depreciation and amortization 215,556 188,58714%Interest expense on borrowings 201,794 191,4985%Amortization of other intangibles 138,116 89,62454%Brokerage, clearing and exchange 107,493 87,42823%Professional services 101,138 77,41831%Communications and data processing 49,667 40,92321%Other 115,985 99,88116%Total expense 9,124,969 6,718,97536%INCOME BEFORE PROVISION FOR INCOME TAXES 1,000,088 786,05727%PROVISION FOR INCOME TAXES 264,423 194,23536%NET INCOME$735,665$591,82224%EARNINGS PER SHARE Earnings per share, basic$9.20$7.6620%Earnings per share, diluted$9.17$7.6120%Weighted-average shares outstanding, basic 79,951 77,3073%Weighted-average shares outstanding, diluted 80,243 77,7603% LPL Financial Holdings Inc.
Condensed Consolidated Statements of Financial Condition
(In thousands, except share data)
(Unaudited)
June 30, 2026March 31, 2026December 31, 2025ASSETSCash and equivalents$1,275,690 $1,024,459 $1,037,378 Cash and equivalents segregated under federal or other regulations 1,420,167 1,655,723 1,792,064 Restricted cash 232,889 225,765 225,298 Receivables from clients, net 994,139 866,500 803,206 Receivables from brokers, dealers and clearing organizations 244,302 100,003 70,897 Advisor loans, net 3,889,372 3,741,085 3,681,512 Other receivables, net 1,427,985 1,359,790 1,203,539 Investment securities ($188,006, $84,862, and $76,108 at fair value at June 30, 2026, March 31, 2026, and December 31, 2025, respectively) 203,499 100,322 91,528 Property and equipment, net 1,569,647 1,467,569 1,409,376 Goodwill 2,681,661 2,659,170 2,644,723 Other intangibles, net 3,433,597 3,413,946 3,330,788 Other assets 2,418,172 2,220,909 2,202,444 Total assets$19,791,120 $18,835,241 $18,492,753 LIABILITIES AND STOCKHOLDERS’ EQUITYLIABILITIES: Client payables$2,256,333 $2,116,992 $2,308,275 Payables to brokers, dealers and clearing organizations 599,397 307,677 150,520 Accrued advisory and commission expenses payable 381,255 370,174 361,623 Corporate debt and other borrowings, net 7,460,510 7,182,102 7,258,694 Accounts payable and accrued liabilities 812,156 744,928 821,641 Other liabilities 2,524,629 2,427,666 2,247,515 Total liabilities 14,034,280 13,149,539 13,148,268 STOCKHOLDERS’ EQUITY: Common stock, $0.001 par value; 600,000,000 shares authorized; 136,822,289, 136,811,280, and 136,637,544 shares issued at June 30, 2026, March 31, 2026, and December 31, 2025, respectively 137 137 136 Additional paid-in capital 3,898,694 3,870,612 3,843,017 Treasury stock, at cost — 57,660,516, 56,622,578, and 56,576,672 shares at June 30, 2026, March 31, 2026, and December 31, 2025, respectively (4,664,666) (4,352,434) (4,333,725)Retained earnings 6,522,675 6,167,387 5,835,057 Total stockholders’ equity 5,756,840 5,685,702 5,344,485 Total liabilities and stockholders’ equity$19,791,120 $18,835,241 $18,492,753 LPL Financial Holdings Inc.
Management's Statements of Operations
(In thousands, except per share data)
(Unaudited)
Certain information in this release is presented as reviewed by the Company’s management and includes information derived from the Company’s unaudited condensed consolidated statements of income, non-GAAP financial measures and operational and performance metrics. For information on non-GAAP financial measures, please see the section titled "Non-GAAP Financial Measures" in this release.
Quarterly Results Q2 2026Q1 2026ChangeQ2 2025ChangeGross Profit(5) Advisory$2,632,405 $2,615,047 1%$1,717,738 53%Trailing commissions 503,918 486,619 4% 418,295 20%Sales-based commissions 728,155 705,415 3% 619,792 17%Advisory fees and commissions 3,864,478 3,807,081 2% 2,755,825 40%Production-based payout(6) (3,378,961) (3,320,527)2% (2,406,692)40%Advisory fees and commissions, net of payout 485,517 486,554 —% 349,133 39%Client cash(7) 456,945 459,653 (1%) 413,516 11%Other asset-based(8) 391,643 375,480 4% 305,015 28%Service and fee 208,879 210,984 (1%) 151,839 38%Transaction 83,216 80,542 3% 60,541 37%Interest income, net(9) 33,027 30,835 7% 60,738 (46%)Other revenue(10) 11,054 4,138 167% 6,785 63%Total net advisory fees and commissions and attachment revenue 1,670,281 1,648,186 1% 1,347,567 24%Brokerage, clearing and exchange expense (52,018) (55,475)(6%) (43,290)20%Gross Profit(5) 1,618,263 1,592,711 2% 1,304,277 24%G&A Expense Core G&A(11) 519,272 532,049 (2%) 425,595 22%Transition assistance loan amortization(12) 142,335 135,982 5% 89,423 59%Promotional (ongoing)(12)(13)(14) 79,123 75,888 4% 74,152 7%Employee share-based compensation 22,701 22,218 2% 19,504 16%Regulatory charges 8,158 7,501 9% 7,267 12%Acquisition costs excluding interest(14) 48,977 61,216 (20%) 71,562 (32%)Total G&A 820,566 834,854 (2%) 687,503 19%EBITDA(15) 797,697 757,857 5% 616,774 29%Interest expense on borrowings(16) 101,502 100,292 1% 102,323 (1%)Depreciation and amortization 109,805 105,751 4% 96,231 14%Amortization of other intangibles 70,886 67,230 5% 46,103 54%Acquisition costs - interest(14) — — —% 3,313 (100%)INCOME BEFORE PROVISION FOR INCOME TAXES 515,504 484,584 6% 368,804 40%PROVISION FOR INCOME TAXES 136,243 128,180 6% 95,555 43%NET INCOME$379,261 $356,404 6%$273,249 39%Earnings per share, diluted$4.74 $4.43 7%$3.40 39%Weighted-average shares outstanding, diluted 80,032 80,446 (1%) 80,373 —%Adjusted EBITDA(15)$846,674 $819,073 3%$688,336 23%Adjusted pre-tax income(17)$635,367 $613,030 4%$489,782 30%Adjusted EPS(18)$5.84 $5.60 4%$4.51 29% LPL Financial Holdings Inc.
Operating Metrics
(Dollars in billions, except where noted)
(Unaudited)
Q2 2026Q1 2026ChangeQ2 2025ChangeMarket Drivers S&P 500 Index (end of period) 7,499 6,529 15% 6,205 21%Russell 2000 Index (end of period) 3,024 2,496 21% 2,175 39%Fed Funds daily effective rate (average bps) 363 364 (1bps) 433 (70bps) Client Assets(19) Advisory$1,548.4 $1,390.4 11%$1,060.7 46%Brokerage 1,014.3 945.9 7% 858.5 18%Total Client Assets$2,562.7 $2,336.3 10%$1,919.2 34%Advisory as a % of Total Client Assets 60.4% 59.5%90bps 55.3%510bps Assets by Platform Corporate RIA advisory(20)$1,190.8 $1,063.4 12%$766.4 55%Independent RIA advisory(20) 357.6 327.0 9% 294.3 22%Brokerage 1,014.3 945.9 7% 858.5 18%Total Client Assets$2,562.7 $2,336.3 10%$1,919.2 34% Centrally Managed Assets Centrally managed assets(21)$245.6 $217.2 13%$183.5 34%Centrally Managed as a % of Total Advisory Assets 15.9% 15.6%30bps 17.3%(140bps) LPL Financial Holdings Inc.
Operating Metrics
(Dollars in billions, except where noted)
(Unaudited)
Q2 2026Q1 2026ChangeQ2 2025ChangeOrganic Net New Assets (NNA)(22) Advisory$30.2 $25.8 n/m$23.1 n/mBrokerage (7.1) (4.4)n/m (2.6)n/mTotal Organic NNA$23.1 $21.4 n/m$20.5 n/m Acquired NNA(22) Advisory$0.5 $— n/m$— n/mBrokerage — — n/m — n/mTotal Acquired NNA$0.5 $— n/m$— n/m Total NNA(22) Advisory$30.7 $25.8 n/m$23.1 n/mBrokerage (7.1) (4.4)n/m (2.6)n/mTotal NNA$23.6 $21.4 n/m$20.5 n/m Net brokerage to advisory conversions(23)$6.6 $6.6 n/m$6.4 n/mOrganic advisory NNA annualized growth(24) 8.7% 7.4%n/m 9.5%n/mTotal organic NNA annualized growth(24) 4.0% 3.6%n/m 4.6%n/m Total Organic Advisory NNA(22) Organic corporate RIA advisory$27.9 $22.3 n/m$24.8 n/mOrganic independent RIA advisory 2.3 3.5 n/m (1.7)n/mTotal Organic Advisory NNA$30.2 $25.8 n/m$23.1 n/mOrganic centrally managed NNA(22)$7.9 $7.8 n/m$6.1 n/m Net buy (sell) activity(25)$39.7 $43.2 n/m$36.6 n/m Note: Totals may not foot due to rounding.
LPL Financial Holdings Inc.
Client Cash Data
(Dollars in thousands, except where noted)
(Unaudited)
Q2 2026Q1 2026ChangeQ2 2025ChangeClient Cash Balances (in billions)(26) Insured cash account sweep$38.4 $39.8 (4%)$34.2 12%Deposit cash account sweep 15.6 15.9 (2%) 10.8 44%Total Bank Sweep 54.1 55.7 (3%) 44.9 20%Money market sweep 1.1 1.5 (27%) 3.7 (70%)Total Client Cash Sweep Held by Third Parties 55.2 57.2 (3%) 48.6 14%Client cash account (CCA) 1.7 2.0 (15%) 2.0 (15%)Total Client Cash Balances$56.9 $59.1 (4%)$50.6 12%Client Cash Balances as a % of Total Assets 2.2% 2.5%(30bps) 2.6%(40bps) Note: Totals may not foot due to rounding.
Three Months Ended June 30, 2026March 31, 2026June 30, 2025Interest-Earning AssetsAverage Balance
(in billions)RevenueNet Yield (bps)(27)Average Balance
(in billions)RevenueNet Yield (bps)(27)Average Balance
(in billions)RevenueNet Yield (bps)(27)Insured cash account sweep$37.7$315,814336$38.8$321,639336$34.4$293,420342Deposit cash account sweep 14.9 126,571341 14.6 122,080338 10.7 101,298381Total Bank Sweep 52.6 442,385337 53.4 443,719337 45.1 394,718351Money market sweep 1.3 1,11635 2.1 1,60631 4.0 2,61426Total Client Cash Held By
Third Parties 53.9 443,501330 55.5 445,325325 49.1 397,332325Client cash account (CCA) 1.8 13,444303 1.9 14,328299 1.7 16,184378Total Client Cash 55.7 456,945329 57.4 459,653324 50.8 413,516326Margin receivables 0.8 15,602796 0.8 14,786792 0.6 12,080807Other interest revenue 1.4 17,425514 1.2 16,049528 4.4 48,658448Total Client Cash and
Interest Income, Net$57.9$489,972340$59.4$490,488334$55.8$474,254341 Note: Totals may not foot due to rounding.
LPL Financial Holdings Inc.
Monthly Metrics
(Dollars in billions, except where noted)
(Unaudited)
June 2026May 2026ChangeApril 2026March 2026Client Assets(19) Advisory$1,548.4 $1,537.3 1%$1,482.7 $1,390.4 Brokerage 1,014.3 1,017.3 —% 995.0 945.9 Total Client Assets$2,562.7 $2,554.6 —%$2,477.7 $2,336.3 Organic NNA(22) Advisory$13.3 $11.0 n/m$6.0 $9.7 Brokerage (2.0) (2.2)n/m (3.0) (1.6)Total Organic NNA$11.3 $8.8 n/m$3.1 $8.1 Acquired NNA(22) Advisory$0.5 $— n/m$— $— Brokerage — — n/m — — Total Acquired NNA$0.5 $— n/m$— $— Total NNA(22) Advisory$13.8 $11.0 n/m$6.0 $9.7 Brokerage (2.0) (2.2)n/m (3.0) (1.6)Total NNA$11.8 $8.8 n/m$3.1 $8.1 Net brokerage to advisory conversions(23)$2.3 $2.1 n/m$2.2 $2.2 Client Cash Balances(26) Insured cash account sweep$38.4 $37.0 4%$37.6 $39.8 Deposit cash account sweep 15.6 14.8 5% 14.7 15.9 Total Bank Sweep 54.1 51.9 4% 52.3 55.7 Money market sweep 1.1 1.2 (8%) 1.3 1.5 Total Client Cash Sweep Held by Third Parties 55.2 53.1 4% 53.6 57.2 Client cash account (CCA) 1.7 1.8 (6%) 1.9 2.0 Total Client Cash Balances$56.9 $54.8 4%$55.5 $59.1 Net buy (sell) activity(25)$13.1 $13.7 n/m$12.9 $12.7 Market Drivers S&P 500 Index (end of period) 7,499 7,580 (1%) 7,209 6,529 Russell 2000 Index (end of period) 3,024 2,919 4% 2,800 2,496 Fed Funds daily effective rate (average bps) 363 363 —bps 364 364 Note: Totals may not foot due to rounding.
LPL Financial Holdings Inc.
Financial Measures
(Dollars in thousands, except where noted)
(Unaudited)
Q2 2026Q1 2026ChangeQ2 2025ChangeCommission Revenue by Product Annuities$727,746 $690,577 5%$629,763 16%Mutual funds 262,044 266,056 (2%) 223,317 17%Fixed income 82,014 85,323 (4%) 53,014 55%Equities 58,751 57,540 2% 47,811 23%Other 101,518 92,538 10% 84,182 21%Total commission revenue$1,232,073 $1,192,034 3%$1,038,087 19% Commission Revenue by Sales-based and Trailing Sales-based commissions Annuities$444,791 $424,221 5%$393,654 13%Fixed income 82,014 85,323 (4%) 53,014 55%Equities 58,751 57,540 2% 47,811 23%Mutual funds 53,993 58,011 (7%) 52,301 3%Other 88,606 80,320 10% 73,012 21%Total sales-based commissions$728,155 $705,415 3%$619,792 17%Trailing commissions Annuities$282,955 $266,356 6%$236,109 20%Mutual funds 208,051 208,045 —% 171,016 22%Other 12,912 12,218 6% 11,170 16%Total trailing commissions$503,918 $486,619 4%$418,295 20%Total commission revenue$1,232,073 $1,192,034 3%$1,038,087 19% Payout Rate(6) 87.44% 87.22%22bps 87.33%11bps LPL Financial Holdings Inc.
Capital Management Measures
(Dollars in thousands, except where noted)
(Unaudited)
Q2 2026Q1 2026Q4 2025Cash and equivalents$1,275,690 $1,024,459 $1,037,378 Cash at regulated subsidiaries (1,221,009) (873,123) (925,356)Excess cash at regulated subsidiaries per the Credit Agreement 375,379 416,002 357,693 Corporate Cash(2)$430,060 $567,338 $469,715 Corporate Cash(2) Cash at LPL Holdings, Inc.$16,807 $24,107 $19,368 Excess cash at regulated subsidiaries per the Credit Agreement 375,379 416,002 357,693 Cash at non-regulated subsidiaries 37,874 127,229 92,654 Corporate Cash$430,060 $567,338 $469,715 Leverage Ratio Total debt$7,496,000 $7,220,000 $7,299,000 Total corporate cash 430,060 567,338 469,715 Credit Agreement Net Debt$7,065,940 $6,652,662 $6,829,285 Credit Agreement EBITDA (trailing twelve months)(28)$3,695,539 $3,575,622 $3,501,832 Leverage Ratio1.91x1.86x1.95x June 30, 2026 Total DebtBalanceCurrent Applicable
MarginInterest RateMaturityRevolving Credit Facility(a)$276,000ABR+37.5 bps / SOFR+147.5 bps5.099%5/20/2029Broker-Dealer Revolving Credit Facility —SOFR+125 bps4.930%5/17/2027Senior Unsecured Term Loan A 1,020,000SOFR+125 bps(b)4.902%12/5/2028Senior Unsecured Notes 500,0005.700% Fixed5.700%5/20/2027Senior Unsecured Notes 400,0004.625% Fixed4.625%11/15/2027Senior Unsecured Notes 500,0004.900% Fixed4.900%4/3/2028Senior Unsecured Notes 750,0006.750% Fixed6.750%11/17/2028Senior Unsecured Notes 900,0004.000% Fixed4.000%3/15/2029Senior Unsecured Notes 750,0005.200% Fixed5.200%3/15/2030Senior Unsecured Notes 500,0005.150% Fixed5.150%6/15/2030Senior Unsecured Notes 400,0004.375% Fixed4.375%5/15/2031Senior Unsecured Notes 500,0006.000% Fixed6.000%5/20/2034Senior Unsecured Notes 500,0005.650% Fixed5.650%3/15/2035Senior Unsecured Notes 500,0005.750% Fixed5.750%6/15/2035Total / Weighted Average$7,496,000 5.222% (a) Unsecured borrowing capacity of $2.25 billion at LPL Holdings, Inc.
(b) The SOFR rate option is a one-month SOFR rate and subject to an interest rate floor of 0 bps.
LPL Financial Holdings Inc.
Key Business and Financial Metrics
(Dollars in thousands, except where noted)
(Unaudited)
Q2 2026Q1 2026ChangeQ2 2025ChangeBusiness Metrics Advisors 32,475 32,144 1% 29,353 11%Net new advisors 331 (34)n/m (140)n/mAnnualized advisory fees and commissions per advisor(29)$478 $474 1%$375 27%Average total assets per advisor ($ in millions)(30)$78.9 $72.7 9%$65.4 21%Total client accounts (in millions) 11.8 11.7 1% 10.5 12%Recruited AUM ($ in billions)$24.9 $17.4 43%$18.4 35% Employees 10,081 9,901 2% 9,389 7% AUM retention rate (quarterly annualized)(31) 97.4% 98.2%(80bps) 97.6%(20bps) Capital Management Capital expenditures ($ in millions)(32)$199.4 $165.8 20%$137.0 46%Acquisitions, net ($ in millions)(33)$102.7 $131.4 (22%)$102.8 —% Share repurchases ($ in millions)$309.5 $— 100%$— 100%Dividends ($ in millions) 24.0 24.1 —% 24.0 —%Total Capital Returned ($ in millions)$333.5 $24.1 n/m$24.0 n/m Non-GAAP Financial Measures
Management believes that presenting certain non-GAAP financial measures by excluding or including certain items can be helpful to investors and analysts who may wish to use this information to analyze the Company’s current performance, prospects and valuation. Management uses this non-GAAP information internally to evaluate operating performance and in formulating the budget for future periods. Management believes that the non-GAAP financial measures and metrics discussed below are appropriate for evaluating the performance of the Company.
Adjusted EPS and Adjusted net income
Adjusted EPS is defined as adjusted net income, a non-GAAP measure defined as net income plus the after-tax impact of amortization of other intangibles and acquisition costs, divided by the weighted average number of diluted shares outstanding for the applicable period. The Company presents adjusted net income and adjusted EPS because management believes that these metrics can provide investors with useful insight into the Company’s core operating performance by excluding non-cash items, and acquisition costs that management does not believe impact the Company’s ongoing operations. Adjusted net income and adjusted EPS are not measures of the Company's financial performance under GAAP and should not be considered as alternatives to net income, earnings per diluted share or any other performance measure derived in accordance with GAAP. For a reconciliation of net income and earnings per diluted share to adjusted net income and adjusted EPS, please see the endnote disclosures in this release.
Gross profit
Gross profit is calculated as total revenue less advisory and commission expense; brokerage, clearing and exchange expense; and market fluctuations on employee deferred compensation. All other expense categories, including depreciation and amortization of property and equipment and amortization of other intangibles, are considered general and administrative in nature. Because the Company’s gross profit amounts do not include any depreciation and amortization expense, the Company considers gross profit to be a non-GAAP financial measure that may not be comparable to similar measures used by others in its industry. Management believes that gross profit can provide investors with useful insight into the Company’s core operating performance before indirect costs that are general and administrative in nature. For a calculation of gross profit, please see the endnote disclosures in this release.
Core G&A
Core G&A consists of total expense less the following expenses: advisory and commission; depreciation and amortization; interest expense on borrowings; brokerage, clearing and exchange; amortization of other intangibles; market fluctuations on employee deferred compensation; transition assistance loan amortization; promotional (ongoing); acquisition costs excluding interest; employee share-based compensation; and regulatory charges. Management presents core G&A because it believes core G&A reflects the corporate expense categories over which management can generally exercise a measure of control, compared with expense items over which management either cannot exercise control, such as advisory and commission, or which management views as promotional expense necessary to support advisor growth and retention, including conferences and transition assistance. Core G&A is not a measure of the Company’s total expense as calculated in accordance with GAAP. For a reconciliation of the Company's total expense to core G&A, please see the endnote disclosures in this release. The Company does not provide an outlook for its total expense because it contains expense components, such as advisory and commission, that are market-driven and over which the Company cannot exercise control. Accordingly, a reconciliation of the Company’s outlook for total expense to an outlook for core G&A cannot be made available without unreasonable effort.
EBITDA and Adjusted EBITDA
EBITDA is defined as net income plus interest expense on borrowings, provision for income taxes, depreciation and amortization, and amortization of other intangibles. Adjusted EBITDA is defined as EBITDA, a non-GAAP measure, plus acquisition costs excluding interest. The Company presents EBITDA and adjusted EBITDA because management believes that they can be useful financial metrics in understanding the Company’s earnings from operations. EBITDA and adjusted EBITDA are not measures of the Company's financial performance under GAAP and should not be considered as alternatives to net income or any other performance measure derived in accordance with GAAP. For a reconciliation of net income to EBITDA and adjusted EBITDA, please see the endnote disclosures in this release.
Adjusted pre-tax income
Adjusted pre-tax income is defined as income before provision for income taxes plus amortization of other intangibles and acquisition costs. The Company presents adjusted pre-tax income because management believes that it can provide investors with useful insight into the Company's core operating performance by excluding non-cash items, acquisition costs, and certain other charges that management does not believe impact the Company's ongoing operations. Adjusted pre-tax income is not a measure of the Company's financial performance under GAAP and should not be considered as an alternative to income before provision for income taxes or any other performance measure derived in accordance with GAAP. For a reconciliation of income before provision for income taxes to adjusted pre-tax income, please see the endnote disclosures in this release.
Credit Agreement EBITDA
Credit Agreement EBITDA is defined in, and calculated by management in accordance with, the Company's amended and restated credit agreement (“Credit Agreement”) as “Consolidated EBITDA,” which is Consolidated Net Income (as defined in the Credit Agreement) plus interest expense on borrowings, provision for income taxes, depreciation and amortization, and amortization of other intangibles, and is further adjusted to exclude certain non-cash charges and other adjustments, and to include future expected cost savings, operating expense reductions or other synergies from certain transactions. The Company presents Credit Agreement EBITDA because management believes that it can be a useful financial metric in understanding the Company’s debt capacity and covenant compliance under its Credit Agreement. Credit Agreement EBITDA is not a measure of the Company's financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. For a reconciliation of net income to Credit Agreement EBITDA, please see the endnote disclosures in this release.
Endnote Disclosures
(1) Represents the estimated total client assets expected to transition to the Company's primary broker-dealer subsidiary, LPL Financial, in connection with advisors who transferred their licenses to LPL Financial during the period. The estimate is based on prior business reported by the advisors, which has not been independently and fully verified by LPL Financial. The actual transition of client assets to LPL Financial generally occurs over several quarters and the actual amount transitioned may vary from the estimate.
(2) Corporate cash, a component of cash and equivalents, is the sum of cash and equivalents from the following: (1) cash and equivalents held at LPL Holdings, Inc., (2) cash and equivalents held at regulated subsidiaries as defined by the Company's Credit Agreement, which include LPL Financial, LPL Enterprise, LLC, The Private Trust Company, N.A., and Commonwealth Equity Services, LLC ("CES"), in excess of the capital requirements of the Company's Credit Agreement and (3) cash and equivalents held at non-regulated subsidiaries.
(3) Compliance with the Leverage Ratio is only required under the Company's revolving credit facility.
(4) The Company was named a Top RIA custodian (Cerulli Associates, 2025 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (based on total revenues, Financial Planning magazine 1996-2022); and, among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors (2021-2022 Kehrer Bielan Research and Consulting Annual TPM Report). Fortune 500 as of June 2021.
(5) Gross profit is a non-GAAP financial measure. Please see a description of gross profit under the "Non-GAAP Financial Measures" section of this release for additional information. Below is a calculation of gross profit for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Total revenue$5,186,623 4,938,434 $3,835,025Advisory and commission expense 3,507,164 3,291,209 2,483,165Brokerage, clearing and exchange expense 52,018 55,475 43,290Employee deferred compensation 9,178 (961) 4,293Gross profit$1,618,263$1,592,711 $1,304,277 (6) Production-based payout is a financial measure calculated as advisory and commission expense plus (less) advisor deferred compensation. The payout rate is calculated by dividing the production-based payout by total advisory and commission revenue. Below is a reconciliation of the Company’s advisory and commission expense to the production-based payout and a calculation of the payout rate for the periods presented (in thousands, except payout rate):
Q2 2026Q1 2026Q2 2025Advisory and commission expense$3,507,164 $3,291,209 $2,483,165 Plus (Less): Advisor deferred compensation (128,203) 29,318 (76,473)Production-based payout$3,378,961 $3,320,527 $2,406,692 Advisory and commission revenue$3,864,478 $3,807,081 $2,755,825 Payout rate 87.44% 87.22% 87.33% (7) Below is a reconciliation of client cash revenue per Management's Statements of Operations to client cash revenue, a component of asset-based revenue, on the Company's condensed consolidated statements of income for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Client cash on Management's Statements of Operations$456,945 $459,653 $413,516 Interest income on CCA balances segregated under federal or other regulations(9) (13,444) (14,328) (16,184)Client cash on Condensed Consolidated Statements of Income$443,501 $445,325 $397,332 (8) Consists of revenue from the Company's sponsorship programs with financial product manufacturers, omnibus processing and networking services but does not include fees from client cash programs.
(9) Below is a reconciliation of interest income, net per Management's Statements of Operations to interest income, net on the Company's condensed consolidated statements of income for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Interest income, net on Management's Statements of Operations$33,027$30,835$60,738Interest income on CCA balances segregated under federal or other regulations(7) 13,444 14,328 16,184Interest income on deferred compensation(10) 56 17 19Interest income, net on Condensed Consolidated Statements of Income$46,527$45,180$76,941 (10) Below is a reconciliation of other revenue per Management's Statements of Operations to other revenue on the Company's condensed consolidated statements of income for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Other revenue on Management's Statements of Operations$11,054 $4,138 $6,785 Interest income on deferred compensation(9) (56) (17) (19)Deferred compensation 137,381 (30,279) 80,766 Other revenue on Condensed Consolidated Statements of Income$148,379 $(26,158)$87,532 (11) Core G&A is a non-GAAP financial measure. Please see a description of core G&A under the “Non-GAAP Financial Measures” section of this release for additional information. Below is a reconciliation of the Company's total expense to core G&A for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Core G&A Reconciliation Total expense$4,671,119 $4,453,850 $3,466,221 Advisory and commission (3,507,164) (3,291,209) (2,483,165)Depreciation and amortization (109,805) (105,751) (96,231)Interest expense on borrowings(16) (101,502) (100,292) (105,636)Brokerage, clearing and exchange (52,018) (55,475) (43,290)Amortization of other intangibles (70,886) (67,230) (46,103)Employee deferred compensation (9,178) 961 (4,293)Total G&A 820,566 834,854 687,503 Transition assistance loan amortization(12) (142,335) (135,982) (89,423)Promotional (ongoing)(12)(13)(14) (79,123) (75,888) (74,152)Acquisition costs excluding interest(14) (48,977) (61,216) (71,562)Employee share-based compensation (22,701) (22,218) (19,504)Regulatory charges (8,158) (7,501) (7,267)Core G&A$519,272 $532,049 $425,595 (12) During the fourth quarter of 2025, the Company updated its definition of Promotional (ongoing) to exclude transition assistance loan amortization. As a result, transition assistance loan amortization is now disclosed as a separate line on Management's Statements of Operations and in the Core G&A reconciliation. Prior period disclosures have been updated to reflect these changes as applicable.
(13) Promotional (ongoing) includes $13.5 million, $16.9 million and $21.2 million for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively, of support costs related to full-time employees that are classified within Compensation and benefits expense in the condensed consolidated statements of income and excludes costs that have been incurred as part of acquisitions that have been classified within acquisition costs.
(14) Acquisition costs include the costs to setup, onboard and integrate acquired entities and other costs that were incurred as a result of the acquisitions. The below table summarizes the primary components of acquisition costs for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Acquisition costs Compensation and benefits$20,231 $22,454$16,054Promotional(13) 12,016 13,430 35,198Professional services 10,923 11,593 11,057Change in fair value of contingent consideration(34) (2,794) 7,523 309Other 8,601 6,216 8,944Acquisition costs excluding interest$48,977 $61,216$71,562Interest(16) — — 3,313Acquisition Cost$48,977 $61,216$74,875 (15) EBITDA and adjusted EBITDA are non-GAAP financial measures. Please see a description of EBITDA and adjusted EBITDA under the "Non-GAAP Financial Measures" section of this release for additional information. Below is a reconciliation of net income to EBITDA and adjusted EBITDA for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025EBITDA and adjusted EBITDA Reconciliation Net income$379,261$356,404$273,249Interest expense on borrowings(16) 101,502 100,292 105,636Provision for income taxes 136,243 128,180 95,555Depreciation and amortization 109,805 105,751 96,231Amortization of other intangibles 70,886 67,230 46,103EBITDA$797,697$757,857$616,774Acquisition costs excluding interest(14) 48,977 61,216 71,562Adjusted EBITDA$846,674$819,073$688,336 (16) Below is a reconciliation of interest expense on borrowings per Management's Statements of Operations to interest expense on borrowings on the Company's condensed consolidated statements of income for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Interest expense on borrowings on Management's Statements of Operations$101,502$100,292$102,323Cost of debt issuance related to Commonwealth acquisition(14) — — 3,313Interest expense on borrowings on Condensed Consolidated Statements of Income$101,502$100,292$105,636 (17) Adjusted pre-tax income is a non-GAAP financial measure. Please see a description of adjusted pre-tax income under the "Non-GAAP Financial Measures" section of this release for additional information. Below is a reconciliation of income before provision for income taxes to adjusted pre-tax income for the periods presented (in thousands):
Q2 2026Q1 2026Q2 2025Income before provision for income taxes$515,504 $484,584 $368,804 Amortization of other intangibles 70,886 67,230 46,103 Acquisition costs(14) 48,977 61,216 74,875 Adjusted pre-tax income$635,367 $613,030 $489,782 Adjusted pre-tax margin(a) 39.3% 38.5% 37.6% (a) Calculated by dividing adjusted pre-tax income by gross profit.
(18) Adjusted net income and adjusted EPS are non-GAAP financial measures. Please see a description of adjusted net income and adjusted EPS under the “Non-GAAP Financial Measures” section of this release for additional information. Below is a reconciliation of net income and earnings per diluted share to adjusted net income and adjusted EPS for the periods presented (in thousands, except per share data):
Q2 2026Q1 2026Q2 2025 AmountPer ShareAmountPer ShareAmountPer ShareNet income / earnings per diluted share$379,261 $4.74 $356,404 $4.43 $273,249 $3.40 Amortization of other intangibles 70,886 0.89 67,230 0.84 46,103 0.57 Acquisition costs(14) 48,977 0.61 61,216 0.76 74,875 0.93 Tax benefit (31,442) (0.39) (34,013) (0.42) (31,433) (0.39)Adjusted net income / adjusted EPS$467,682 $5.84 $450,837 $5.60 $362,794 $4.51 Diluted share count 80,032 80,446 80,373 Note: Totals may not foot due to rounding.
(19) Consists of total assets under custody at the Company's primary broker-dealer subsidiary, LPL Financial, as well as assets under custody of a third-party custodian related to CES and Atria Wealth Solution’s introducing broker-dealer subsidiaries.
(20) Assets on the Company's corporate RIA advisory platform are serviced by investment advisor representatives of LPL Financial. Assets on the Company's independent RIA advisory platform are serviced by investment advisor representatives of separate registered investment advisor firms rather than representatives of LPL Financial.
(21) Consists of advisory assets in LPL Financial’s Model Wealth Portfolios, Optimum Market Portfolios, Personal Wealth Portfolios and Guided Wealth Portfolios platforms.
(22) Consists of total client deposits into advisory or brokerage accounts less total client withdrawals from advisory or brokerage accounts, plus dividends, plus interest, minus advisory fees. The Company considers conversions from and to brokerage or advisory accounts as deposits and withdrawals, respectively.
(23) Consists of existing custodied assets that converted from brokerage to advisory, less existing custodied assets that converted from advisory to brokerage.
(24) Calculated as annualized current period organic net new assets divided by preceding period assets in their respective categories of advisory assets or total assets.
(25) Represents the amount of securities purchased less the amount of securities sold in client accounts custodied with LPL Financial.
(26) Client cash balances include CCA and exclude purchased money market funds. CCA balances include cash that clients have deposited with LPL Financial that is included in Client payables in the condensed consolidated balance sheets. The following table presents purchased money market funds for the periods presented (in billions):
Q2 2026Q1 2026Q2 2025Purchased money market funds$49.2$50.1$47.0 (27) Calculated by dividing revenue for the period by the average balance during the period.
(28) EBITDA and Credit Agreement EBITDA are non-GAAP financial measures. Please see a description of EBITDA and Credit Agreement EBITDA under the “Non-GAAP Financial Measures” section of this release for additional information. Under the Credit Agreement, management calculates Credit Agreement EBITDA for a trailing twelve month period at the end of each fiscal quarter and in doing so may make further adjustments to prior quarters. Below are reconciliations of trailing twelve month net income to trailing twelve month EBITDA and Credit Agreement EBITDA for the periods presented (in thousands):
Q2 2026Q1 2026Q4 2025EBITDA and Credit Agreement EBITDA Reconciliations Net income$1,006,867$900,855$863,024Interest expense on borrowings 413,702 417,836 403,406Provision for income taxes 356,671 315,983 286,483Depreciation and amortization 420,403 406,829 393,434Amortization of other intangibles 285,070 260,287 236,578EBITDA$2,482,713$2,301,790$2,182,925Credit Agreement Adjustments: Acquisition costs and other(14)(35)$766,866$796,403$777,299Employee share-based compensation 83,005 79,808 75,956M&A accretion(36) 359,895 394,614 462,597Advisor share-based compensation 3,060 3,007 3,055Credit Agreement EBITDA$3,695,539$3,575,622$3,501,832 (29) Calculated based on the average advisor count from the current period and prior periods.
(30) Calculated based on the end of period total assets divided by end of period advisor count.
(31) Reflects retention of total assets, calculated by deducting quarterly annualized attrition from total assets, divided by the prior quarter total assets.
(32) Capital expenditures represent cash payments for property and equipment during the period.
(33) Acquisitions, net represent cash paid for acquisitions, net of cash acquired during the period.
(34) Represents a fair value adjustment to our contingent consideration liabilities that is reflected in other expense in the condensed consolidated statements of income.
(35) Acquisition costs and other primarily include costs related to acquisitions and costs incurred related to the integration of the strategic relationship with Prudential Advisors.
(36) M&A accretion is an adjustment to reflect the annualized expected run rate EBITDA of an acquisition as permitted by the Credit Agreement for up to eight fiscal quarters following the close of such acquisition.
July 29, 2026 08:55 ET | Source: LPL Financial Holdings, Inc.
SAN DIEGO, July 29, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Dawn Parks, CFP®, CLU®, Enrolled Agent, of Sunny Day Financial has joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platforms. She reported serving approximately $150 million in advisory, brokerage and retirement plan assets* and joins LPL from Cetera Wealth Services.
Based in the Dallas and Fort Worth, Texas area, Sunny Day Financial is a woman-owned practice led by Owner and Director of Wealth Management and Planning, Dawn Parks, who brings a distinctly personal approach to the firm and its clients. Supported by Investment Operations Manager, Karen Umpierre, Parks serves a diverse client base that consists of client planning for those planning for, near, and in retirement, including several widows and single women.
Parks’ philosophy centers around accessibility and active listening. She builds meaningful relationships with her clients, taking time to make them feel heard, understood and valued. By fostering trust and open communication, she gains a better understanding of their goals and delivers thoughtful, personalized guidance.
“I strive to be available and approachable when my clients need me,” stated Parks. “Everyone has different concerns and values, so we tailor our plans to fit their individual needs. Our goal is to provide guidance and peace of mind, helping clients feel confident in their financial future and sleep well at night.”
Why Sunny Day Financial Chose LPL
Parks selected LPL for its scale and streamlined experience, which she believes will create greater efficiency.
“With the scale of LPL, we have the opportunity to take advantage of all they have to offer. I was particularly drawn to the self-clearing platform and the ease of doing business LPL provides,” said Parks. “Having access to those resources and capabilities will help us operate more smoothly while positioning us for future growth. As our industry continues to evolve, it's important to have a partner that can support our long-term development and create opportunities for the next stage of our business.”
Marc Cohen, chief growth officer at LPL, said, “We are pleased to welcome Dawn to LPL. Her dedication to listening, building meaningful relationships and helping clients navigate important financial decisions reflects the type of client-centric approach we value at LPL. We look forward to supporting her with the capabilities and strategic resources to continue growing her practice and serving clients with confidence.”
Dawn Parks is an active member of the Richardson Chamber of Commerce in Richardson, Texas.
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Sunny Day Financial and LPL Financial are separate entities.
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.
*Value approximated based on asset and holding details provided to LPL from end of year, 2025.
