LPL Financial Reports Monthly Activity for February 2024

SAN DIEGO, March 21, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial”), a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for February 2024.

Total advisory and brokerage assets at the end of February were $1.40 trillion, an increase of $41.5 billion, or 3.0%, compared to the end of January 2024.

Total net new assets for February were $6.8 billion, translating to a 6.0% annualized growth rate. Total net new advisory assets were $6.4 billion, translating to a 10.4% annualized growth rate.

Total client cash balances at the end of February were $46.5 billion, a decrease of $0.8 billion compared to the end of January 2024. Net buying in February was $13.0 billion.

(End of period $ in billions, unless noted)	February	January		Change		February	Change
	2024	2024		M/M		2023	Y/Y
Advisory and Brokerage Assets
Advisory assets	768.4	740.7		3.7%		606.1	26.8%
Brokerage assets	634.9	621.1		2.2%		541.7	17.2%
Total Advisory and Brokerage Assets	1,403.3	1,361.8		3.0%		1,147.8	22.3%
Total Net New Assets
Net new advisory assets	6.4	2.4		n/m		4.3	n/m
Net new brokerage assets	0.4	(0.4)		n/m		1.0	n/m
Total Net New Assets	6.8	2.0		n/m		5.2	n/m
Organic Net New Assets
Net new organic advisory assets	6.4	2.4		n/m		4.3	n/m
Net new organic brokerage assets	0.4	(0.4)		n/m		1.0	n/m
Total Organic Net New Assets	6.8	2.0		n/m		5.2	n/m
Net brokerage to advisory conversions	1.3	1.0		n/m		0.8	n/m
Client Cash Balances
Insured cash account sweep	33.2	33.7		(1.5%)		40.7	(18.4%)
Deposit cash account sweep	9.0	8.9		1.1%		10.3	(12.6%)
Total Bank Sweep	42.2	42.6		(0.9%)		51.0	(17.3%)
Money market sweep	2.3	2.4		(4.2%)		2.8	(17.9%)
Total Client Cash Sweep Held by Third Parties	44.5	45.0		(1.1%)		53.8	(17.3%)
Client cash account	2.0	2.3		(13.0%)		2.4	(16.7%)
Total Client Cash Balances	46.5	47.3		(1.7%)		56.2	(17.3%)
Net buy (sell) activity	13.0	12.0		n/m		12.4	n/m
Market Drivers
S&P 500 Index (end of period)	5,096	4,846		5.2%		3,970	28.4%
Russell 2000 Index (end of period)	2,055	1,947		5.5%		1,897	8.3%
Fed Funds daily effective rate (average bps)	533	533		—%		457	16.6%

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.

Contacts

Investor Relations
investor.relations@lplfinancial.com

Media Relations
media.relations@lplfinancial.com

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

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.

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