LPL Financial Reports Monthly Activity for August 2016
SAN DIEGO, Sept. 13, 2016 (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 2016.
Total brokerage and advisory assets served at the end of August were approximately $502 billion, a 0.4 percent increase compared to the end of July 2016. Total client cash sweep balances at the end of August were $29.1 billion, a 0.7 percent increase compared to July 2016.
|(End of Period $ in billions, unless noted)||August||July||%|
|Total Brokerage and Advisory Assets||502.4||500.4||0.4||%|
|Insured Cash Account Balances||21.1||20.9||1.0||%|
|Deposit Cash Account Balances||4.2||4.2||0.0||%|
|Money Market Account Cash Balances||3.8||3.8||0.0||%|
|Total Cash Sweep Balances||29.1||28.9||0.7||%|
|S&P 500 (end of period)||2,171||2,174||-0.1||%|
|Fed Funds Effective Rate (average bps)||40||39||n/m|
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, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is a leader in the retail financial advice market and served approximately $502 billion in brokerage and advisory assets as of August 31, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $124 billion in retirement plan assets, as of June 30, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.