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LPL Financial Reports Monthly Activity for July 2018

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SAN DIEGO, Aug. 21, 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 July 2018.

Total brokerage and advisory assets served at the end of July were approximately $669 billion(1), a 1.5 percent increase compared to the end of June 2018.  

Total net new assets (NNA) for July were an inflow of $0.4 billion.  This inflow included $0.7 billion of outflows from a small number of hybrid firms as discussed during the Company's Q2 2018 earnings call.

Total client cash sweep balances at the end of July were $28.2 billion, a 1.4 percent decrease compared to June 2018.

           
        (End of Period $ in billions, unless noted) July   June   Change   July   Change  
2018   2018   M/M   2017   Y/Y  
Assets Served          
Advisory Assets 298.5   291.5   2.4 % 242.2   23.2 %
Brokerage Assets 370.4   367.5   0.8 % 307.5   20.5 %
Total Brokerage and Advisory Assets(1) 668.9   659.1   1.5 % 549.7   21.7 %
           
Net New Assets          
Net New Advisory Assets 1.5   1.3   n/m   2.5   n/m  
Net New Brokerage Assets (1.1 ) (1.2 ) n/m   (1.6 ) n/m  
Total Net New Assets 0.4   0.1   n/m   0.9   n/m  
           
Net Brokerage to Advisory Conversions 0.5   0.5   n/m   0.7   n/m  
           
Cash Sweep Balances          
Insured Cash Account Balances 21.4   21.7   (1.4 )% 21.5   (0.5 )%
Deposit Cash Account Balances 3.8   4.0   (5.0 )% 3.6   5.6 %
Money Market Account Cash Balances 2.9   2.9   0.0 % 2.2   31.8 %
Total Cash Sweep Balances 28.2   28.6   (1.4 )% 27.3   3.3 %
           
Market Indices          
S&P 500 (end of period) 2,816   2,718   3.6 % 2,470   14.0 %
Fed Funds Effective Rate (average bps) 191   182   4.9 % 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(2). 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  

(1) The July 2018 total reflects a reduction of $2.3 billion in assets related to the acquisition of the broker-dealer network of National Planning Holdings, Inc.  These assets were incorrectly attributed to the Company by a product sponsor from January 2018 until the product sponsor corrected its reporting in July 2018.  Revenue reported by the product sponsor was correct and therefore there was no economic impact to the Company. Prior periods have not been restated.

(2) 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
    investor.lpl.com/contactus.cfm

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