SAN DIEGO, March 16, 2021 (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 ) (the “Company”), today released its monthly activity report for February 2021.
Total advisory and brokerage assets served at the end of February were approximately $925 billion, an increase of 2.0% compared to the end of January 2021.
Total net new assets for February were an inflow of $5.9 billion, translating to a 7.9% annualized growth rate. This includes total net new advisory assets of $6.0 billion, translating to a 15.4% annualized growth rate.
Total client cash balances at the end of February were $48.3 billion, a decrease of $0.5 billion compared to the end of January 2021. Net buying in February was $6.0 billion.
(End of Period $ in billions, unless noted)
|
February |
|
|
January |
|
|
Change |
|
|
February |
|
|
Change |
|
|
2021 |
|
|
2021 |
|
|
M/M |
|
|
2020 |
|
|
Y/Y |
|
| Assets Served |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Advisory Assets |
477.4 |
|
|
464.6 |
|
|
2.8 |
% |
|
355.7 |
|
|
34.2 |
% |
| Brokerage Assets |
447.7 |
|
|
442.3 |
|
|
1.2 |
% |
|
380.9 |
|
|
17.5 |
% |
| Total Advisory and Brokerage Assets |
925.1 |
|
|
907.0 |
|
|
2.0 |
% |
|
736.6 |
|
|
25.6 |
% |
Total Net New Assets* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net New Advisory Assets |
6.0 |
|
|
4.2 |
|
|
n/m |
|
|
4.6 |
|
|
n/m |
|
| Net New Brokerage Assets |
(0.0 |
) |
|
(0.6 |
) |
|
n/m |
|
|
0.7 |
|
|
n/m |
|
| Total Net New Assets |
5.9 |
|
|
3.6 |
|
|
n/m |
|
|
5.3 |
|
|
n/m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Brokerage to Advisory Conversions |
1.1 |
|
|
1.0 |
|
|
n/m |
|
|
0.8 |
|
|
n/m |
|
Client Cash Balances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Insured Cash Account Balances |
37.3 |
|
|
37.5 |
|
|
(0.5 |
%) |
|
24.8 |
|
|
50.4 |
% |
| Deposit Cash Account Balances |
7.9 |
|
|
8.0 |
|
|
(1.3 |
%) |
|
5.2 |
|
|
51.9 |
% |
| Total Bank Sweep Balances |
45.2 |
|
|
45.5 |
|
|
(0.7 |
%) |
|
30.0 |
|
|
50.7 |
% |
| Money Market Account Cash Balances |
1.4 |
|
|
1.4 |
|
|
n/m |
|
|
1.6 |
|
|
n/m |
|
| Purchased Money Market Funds |
1.7 |
|
|
1.8 |
|
|
n/m |
|
|
2.6 |
|
|
n/m |
|
| Total Money Market Balances |
3.1 |
|
|
3.2 |
|
|
(3.1 |
%) |
|
4.3 |
|
|
(27.9 |
%) |
| Total Client Cash Balances |
48.3 |
|
|
48.8 |
|
|
(1.0 |
%) |
|
34.2 |
|
|
41.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Buy (Sell) Activity |
6.0 |
|
|
4.5 |
|
|
n/m |
|
|
3.9 |
|
|
n/m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market Indices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| S&P 500 (end of period) |
3,811 |
|
|
3,714 |
|
|
2.6 |
% |
|
2,954 |
|
|
29.0 |
% |
| Fed Funds Effective Rate (average bps) |
8 |
|
|
9 |
|
|
n/m |
|
|
158 |
|
|
n/m |
|
* Total Net New Assets consists of asset inflows minus outflows, plus dividends, plus interest, minus advisory fees.
For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s most recent earnings announcement , which is available in the quarterly results section of investor.lpl.com .
About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 17,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
* Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report)
No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020)
No. 1 provider of third-party brokerage services to banks and credit unions (2019-2020 Kehrer Bielan Research & Consulting Annual TPM Report)
Securities and Advisory services offered through LPL Financial LLC, a registered investment advisor. Member FINRA/SIPC. We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.
