SAN DIEGO, Sept. 20, 2018 (GLOBE NEWSWIRE) — Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today released its monthly activity report for August 2018.
Total brokerage and advisory assets served at the end of August were approximately $679 billion, a 1.5 percent increase compared to the end of July 2018.
Total net new assets (NNA) for August were an inflow of $1.3 billion. This included $1.4 billion of outflows from a small number of hybrid firms, consistent with the Company’s expectations as discussed during its Q2 2018 earnings call. Prior to these outflows, total net new assets for August were an inflow of $2.7 billion.
Total client cash sweep balances at the end of August were $28.1 billion, a 0.4 percent decrease compared to July 2018.
| (End of Period $ in billions, unless noted) | August | July | Change | August | Change | |||||
| 2018 | 2018 | M/M | 2017 | Y/Y | ||||||
| Assets Served | ||||||||||
| Advisory Assets | 304.4 | 298.5 | 2.0 | % | 245.3 | 24.1 | % | |||
| Brokerage Assets | 374.4 | 370.4 | 1.1 | % | 306.1 | 22.3 | % | |||
| Total Brokerage and Advisory Assets | 678.7 | 668.9 | 1.5 | % | 551.4 | 23.1 | % | |||
| Net New Assets | ||||||||||
| Net New Advisory Assets | 1.5 | 1.5 | n/m | 2.7 | n/m | |||||
| Net New Brokerage Assets | (0.2 | ) | (1.1 | ) | n/m | (1.6 | ) | n/m | ||
| Total Net New Assets | 1.3 | 0.4 | n/m | 1.1 | n/m | |||||
| Net Brokerage to Advisory Conversions | 0.6 | 0.5 | n/m | 0.7 | n/m | |||||
| Cash Sweep Balances | ||||||||||
| Insured Cash Account Balances | 21.1 | 21.4 | (1.4 | %) | 22.0 | (4.1 | %) | |||
| Deposit Cash Account Balances | 3.9 | 3.8 | 2.6 | % | 4.0 | (2.5 | %) | |||
| Money Market Account Cash Balances | 3.1 | 2.9 | 6.9 | % | 2.3 | 34.8 | % | |||
| Total Cash Sweep Balances | 28.1 | 28.2 | (0.4 | %) | 28.3 | (0.7 | %) | |||
| Market Indices | ||||||||||
| S&P 500 (end of period) | 2,902 | 2,816 | 3.1 | % | 2,472 | 17.4 | % | |||
| Fed Funds Effective Rate (average bps) | 191 | 191 | 0.0 | % | 116 | 64.7 | % | |||
For additional information regarding these and other LPL Financial business metrics, please refer to the company’s most recent earnings release, which is available in the Press Releases section of investor.lpl.com.
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL.com
*Based on total revenues, Financial Planning magazine June 1996-2018.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.
Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Jeff Mochal, (704) 733-3589
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