Core Insights - LPL Financial reported a total advisory and brokerage assets of $1.94 trillion at the end of July 2025, reflecting an increase of $20.2 billion or 1.1% from June 2025 [1] - The company experienced total organic net new assets of $5.4 billion in July, which corresponds to a 3.4% annualized growth rate [2] - Client cash balances decreased to $49.5 billion, down by $1.1 billion from the end of June 2025, with net buying activity recorded at $13.7 billion [3] Advisory and Brokerage Assets - Advisory assets reached $1,077.0 billion, up 1.5% month-over-month and 26.6% year-over-year [4] - Brokerage assets totaled $862.4 billion, showing a 0.5% increase month-over-month and a 27.1% increase year-over-year [4] - Total advisory and brokerage assets increased to $1,939.4 billion, marking a 1.1% rise month-over-month and a 26.8% rise year-over-year [4] Organic and Acquired Net New Assets - Organic net new advisory assets were $7.5 billion, while organic net new brokerage assets were negative at $(2.0) billion [4] - Total organic net new assets for July were $5.4 billion, down from $8.0 billion in June [4] - There were no acquired net new assets reported for both advisory and brokerage segments [4] Client Cash Balances - Total client cash balances decreased to $49.5 billion, a 2.2% decline from June 2025 [4] - Insured cash account sweep was $33.7 billion, down 1.5% month-over-month, while deposit cash account sweep remained stable at $10.8 billion [4] - The total bank sweep decreased by 1.1% to $44.4 billion, and money market sweep saw a significant decline of 8.1% to $3.4 billion [4] Market Drivers - The S&P 500 Index increased by 2.2% to 6,339, while the Russell 2000 Index rose by 1.7% to 2,212 [4] - The average Fed Funds daily effective rate remained unchanged at 433 basis points, down 18.8% from the previous year [4]

Core Insights - LPL Financial LLC has announced the launch of Chloey Wealth by advisors Jenna Vitosh and Natalia Paige, who collectively manage approximately $140 million in advisory, brokerage, and retirement plan assets [1][2] - The team has 20 years of combined experience, with Vitosh being a second-generation financial advisor and Paige transitioning from the medical field to financial planning [2] - Chloey Wealth aims to take a holistic approach to financial planning, primarily serving young families and pre-retirees [2][3] Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions [6] - The firm services and custodies around $1.9 trillion in brokerage and advisory assets for approximately 7 million Americans [6] - LPL offers a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services, allowing advisors to choose the business model and resources that suit their needs [6]

Core Viewpoint - LPL Financial LLC has successfully onboarded Zarra Wealth Management, which manages approximately $270 million in advisory, brokerage, and retirement plan assets, transitioning from Ameriprise to enhance their operational autonomy and client service capabilities [1][4]. Group 1: Company Overview - LPL Financial Holdings Inc. is recognized as one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions [6]. - The firm services and custodies around $1.9 trillion in brokerage and advisory assets for approximately 7 million Americans, offering a variety of advisor affiliation models and investment solutions [6]. Group 2: Zarra Wealth Management Team - The Zarra Wealth Management team, based in Westbury, NY, consists of Christopher Zarra, James Kelly, and Michele Welch, collectively bringing 48 years of financial industry experience [2]. - The team focuses on providing personalized financial services to families, pre-retirees, and retirees, emphasizing a fiduciary approach and the importance of the CFP designation [2][3]. Group 3: Reasons for Transition - Zarra Wealth Management sought greater independence and the ability to provide customized financial solutions, leading to their decision to join LPL Financial [3][4]. - The team values the flexibility to tailor financial strategies without being constrained by a corporate agenda, which aligns with their client-first philosophy [4].

Core Insights - LPL Financial has welcomed Zarra Wealth Management, which manages approximately $270 million in advisory, brokerage, and retirement plan assets, to its platform from Ameriprise [1][2]. Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., supporting over 29,000 financial advisors and approximately 1,100 financial institutions, with around $1.9 trillion in brokerage and advisory assets [6]. Team Background - The Zarra Wealth Management team, based in Westbury, NY, consists of Christopher Zarra, James Kelly, and Michele Welch, who collectively have 48 years of experience in the financial industry, focusing on families and retirees [2]. Client Service Philosophy - The team emphasizes high-touch, personalized service, treating clients like family and prioritizing their best interests [3][4]. Reasons for Transition - Zarra Wealth Management sought greater autonomy and independence from the franchise model, choosing LPL for its lack of proprietary investment products and the flexibility to customize client strategies [4][3]. Support and Resources - LPL Financial provides a broad range of products, tools, technology, and support to help advisors elevate their practices and better serve their clients [4].

A surprise guest challenges the world's largest gathering of financial advisors to ask, "What if you could?" "We're running right toward your biggest problems — and finding solutions," said Audette. Noting that the company is investing in its brand to be an asset for all advisors, Carone shared how LPL is helping advisors expand their marketing initiatives, including through co-branding opportunities and additional social media tools, including compliance-approved Instagram. "From the biggest transformation ...

Core Insights - LPL Financial is positioning itself as a leader in transforming the wealth management industry through innovation and technology [1][2] - The annual conference Focus 2025 gathered over 10,000 attendees, including 6,000 financial advisors, emphasizing the importance of collaboration and future planning [1][2] Technology and Innovation - LPL is focusing on technology as a foundational element for business operations, with a commitment to secure and scalable platforms [4][5] - The firm introduced a $50 million investment aimed at modernizing advisor compensation through AI-powered forecasting and analytics [5] - AI tools, such as Jump, are designed to enhance efficiency, saving advisors 30-45 minutes per client meeting, totaling over 72,000 hours saved across the platform [5] Wealth Management Strategy - LPL's wealth management strategy integrates technology to provide personalized advice at scale, with platforms like Alts Connect and Alts Learning Hub facilitating access to alternative investments [4][5] - The firm emphasizes the need for exceptional advice that drives alpha and utilizes top-tier wealth tools and solutions [5] Operational Enhancements - LPL is making significant investments in infrastructure, including data centers and a 24/7 security operations center, to ensure data security for advisors and clients [5] - Enhancements to the ClientWorks Rebalancer allow for real-time model management and trade execution, improving advisor-client interactions [5] New Offerings and Services - LPL is piloting a cash management account (CMA) that integrates short-term cash flow with long-term investment strategies, set to be fully integrated into ClientWorks [9] - The firm is expanding its Separately Managed Account (SMA) offerings, backed by a team managing $85 billion in assets [9] - Advisors now have access to specialized support for business exit planning and investment banking, enhancing their service offerings [9]

SAN DIEGO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC, a leading wealth management firm, last night opened its annual flagship conference, Focus 2025, welcoming more than 10,000 financial professionals and industry leaders to the San Diego Convention Center. The three-day event marks the largest in-person gathering in LPL history, offering curated content, strategic insights and immersive experiences designed to elevate financial advisor success. Addressing the audience of advisors this morning, LP ...

Core Insights - Coastal Wealth Management Group has joined Financial Resources Group Investment Services, which supports LPL-affiliated advisors, managing approximately $175 million in advisory, brokerage, and retirement plan assets [1][9] - The team is based in Ocean Springs, Mississippi, and focuses on serving business owners, pre-retirees, retirees, and aims to advise clients in the music industry and college athletes [2][4] Company Transition - The decision to move to LPL was driven by the desire to enhance service offerings, increase client capacity, and utilize a more robust technology platform after a thorough due diligence process [4][5] - Positive feedback from approximately 30 advisors and assistants regarding their experiences with LPL influenced the decision, highlighting the firm's updated technology and strong acquisition support [5] Leadership and Community Engagement - The team members, including Lloyd Baxter, George Cumbest, Darryl Meadows, and Timothy Taranto, are deeply rooted in their community and emphasize relationship-building in their client interactions [2][3] - Cumbest, who is also the President of the Mississippi Songwriter Alliance, illustrates the team's approach of integrating personal passions into client acquisition strategies [3] LPL Financial Overview - LPL Financial Holdings Inc. is a leading wealth management firm in the U.S., supporting over 29,000 financial advisors and managing approximately $1.9 trillion in brokerage and advisory assets for around 7 million Americans [7] - The firm offers a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services, allowing flexibility for advisors and institutions [7]

Core Insights - LPL Financial has appointed Emily Field as group managing director and chief people officer to enhance employee experience and scale the firm's high-performance culture [1][4] - Field brings extensive experience in organizational performance and workforce transformation from her previous roles at McKinsey & Company and Accenture [2][4] - LPL Financial supports over 29,000 financial advisors and manages approximately $1.9 trillion in brokerage and advisory assets for around 7 million Americans [6] Company Overview - LPL Financial Holdings Inc. is one of the fastest-growing wealth management firms in the U.S., providing a variety of advisor affiliation models, investment solutions, fintech tools, and practice management services [6] - The firm services and custody approximately $1.9 trillion in assets, catering to the needs of financial advisors and institutions [6] Leadership and Strategy - Emily Field will oversee all Human Resources departments, including Talent Management, Total Rewards, Learning, Culture and Engagement, and HR Business Partners [3] - LPL CEO Rich Steinmeier emphasized Field's data-driven, people-first approach to talent strategy, aligning with the company's priorities [4] - Field is recognized as a thought leader in the future of work and management, co-authoring a book and contributing to various research reports [4][5]

[Cover Page](index=1&type=section&id=UNITED%20STATES%20SECURITIES%20AND%20EXCHANGE%20COMMISSION) [Table of Contents](index=2&type=section&id=Table%20of%20Contents) [Where You Can Find More Information](index=3&type=section&id=WHERE%20YOU%20CAN%20FIND%20MORE%20INFORMATION) [Special Note Regarding Forward-Looking Statements](index=3&type=section&id=SPECIAL%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) [Glossary of Terms](index=5&type=section&id=Glossary%20of%20Terms) Part I — Financial Information [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=6&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section analyzes LPL Financial Holdings Inc.'s financial condition and operational results for periods ended June 30, 2025, including business, revenue, key metrics, and risk management [Business Overview](index=6&type=section&id=Business%20Overview) LPL Financial Holdings Inc. is a top independent broker-dealer and custodian, supporting 29,000+ advisors and $1.9 trillion in assets - LPL Financial Holdings Inc. is the nation's largest independent broker-dealer, a leading investment advisory firm, and a top custodian, supporting over **29,000 financial advisors** and approximately **1,100 financial institutions**[27](index=27&type=chunk) - The company services and custodies approximately **$1.9 trillion** in brokerage and advisory assets[27](index=27&type=chunk) - LPL offers an integrated technology platform, comprehensive self-clearing services, and access to a wide range of curated non-proprietary products, free from conflicts of product manufacturing, underwriting, and market-making[29](index=29&type=chunk) [Our Sources of Revenue](index=6&type=section&id=Our%20Sources%20of%20Revenue) Revenue is primarily from advisor fees and commissions, supplemented by technology, custody, and asset-based fees - Primary revenue sources include fees and commissions from products and advisory services, with a substantial portion paid to advisors[30](index=30&type=chunk) - Additional revenue comes from fees for technology, custody, clearing, trust, and reporting platforms, as well as asset-based revenue from insured bank sweep vehicles, money market accounts, and product provider access[30](index=30&type=chunk) - The company custodies the majority of client assets on its self-clearing platform, earning fees from mutual funds, insurance companies, banks, and other financial product sponsors based on asset levels or accounts managed[30](index=30&type=chunk) [Significant Events](index=7&type=section&id=Significant%20Events) LPL Financial completed the **$2.7 billion** Commonwealth acquisition, financed by recent equity and debt offerings - Closed acquisition of Commonwealth Financial Network on August 1, 2025, for approximately **$2.7 billion cash**, with asset conversion expected in Q4 2026[33](index=33&type=chunk) - Completed a **$1.7 billion equity offering** on April 2, 2025, by issuing approximately 5.4 million shares at $320.00 per share[34](index=34&type=chunk) - Completed a **$1.5 billion debt offering** on April 3, 2025, consisting of $500.0 million in 4.900% senior unsecured notes due 2028, $500.0 million in 5.150% senior unsecured notes due 2030, and $500.0 million in 5.750% senior unsecured notes due 2035[35](index=35&type=chunk) [Executive Summary](index=7&type=section&id=Executive%20Summary) Q2 2025 net income was **$273.2 million**, total assets **$1.9 trillion**, with net new assets at **$20.5 billion** Financial Highlights (Q2 2025 vs. Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income | $273.2 million | $243.8 million | +12.1% | | Diluted EPS | $3.40 | $3.23 | +5.3% | | Gross Profit | $1.3 billion | $1.1 billion | +21% | Asset Trends (June 30, 2025 vs. June 30, 2024) | Metric | June 30, 2025 | June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Total Advisory & Brokerage Assets | $1.9 trillion | $1.5 trillion | +26.7% | | Advisory Assets | $1.1 trillion | $829.1 billion | +28% | | Brokerage Assets | $858.5 billion | $668.7 billion | +28% | | Total Net New Assets (3 months) | $20.5 billion | $34.0 billion | -39.7% | | Net New Advisory Assets (3 months) | $23.1 billion | $26.8 billion | -13.8% | | Net New Brokerage Assets (3 months) | -$2.6 billion | $7.2 billion | N/A (outflow) | - Paid cash dividends of **$24.0 million** during the three months ended June 30, 2025[41](index=41&type=chunk) [Key Performance Metrics](index=8&type=section&id=Key%20Performance%20Metrics) Q2 2025 metrics show **$1.9 trillion** in total assets, **29,353** advisors, and strong growth in Adjusted EPS and EBITDA Operating Metrics (Q2 2025 vs. Q2 2024) | Metric (dollars in billions) | June 30, 2025 | June 30, 2024 | % Change | | :--- | :--- | :--- | :--- | | Advisory assets | $1,060.7 | $829.1 | 28.0% | | Brokerage assets | $858.5 | $668.7 | 28.4% | | Total Advisory and Brokerage Assets | $1,919.2 | $1,497.8 | 28.1% | | Advisory as a % of total | 55.3% | 55.4% | -0.1 pp | | Net new advisory assets | $23.1 | $26.8 | -13.8% | | Net new brokerage assets | $(2.6) | $7.2 | N/A | | Total Net New Assets | $20.5 | $34.0 | -39.7% | | Total Client Cash Balances | $50.6 | $44.0 | 15.0% | Business and Financial Metrics (Q2 2025 vs. Q2 2024) | Metric | June 30, 2025 | June 30, 2024 | % Change | | :--- | :--- | :--- | :--- | | Advisors | 29,353 | 23,462 | 25.1% | | Average total assets per advisor | $65.4 | $63.8 | 2.5% | | Dividends | $24.0 | $22.4 | 7.1% | | Leverage ratio | 1.23 | 1.68 | -26.9% | | Total revenue (3 months) | $3,835.0 | $2,931.8 | 30.8% | | Net income (3 months) | $273.2 | $243.8 | 12.1% | | Diluted EPS (3 months) | $3.40 | $3.23 | 5.3% | | Adjusted EPS (3 months) | $4.51 | $3.88 | 16.2% | | Gross profit (3 months) | $1,304.3 | $1,079.2 | 20.9% | | Adjusted EBITDA (3 months) | $688.3 | $532.9 | 29.2% | | Core G&A (3 months) | $425.6 | $370.9 | 14.7% | - Share repurchases were **$100.0 million** for the six months ended June 30, 2025, with no repurchases in Q2 2025[42](index=42&type=chunk) [Legal and Regulatory Matters](index=11&type=section&id=Legal%20and%20Regulatory%20Matters) The company faces extensive regulatory oversight, with potential impacts on operations, costs, and financial results - The financial services industry is subject to extensive regulation, requiring significant investment in compliance functions[59](index=59&type=chunk) - New laws, regulations, or changes in their interpretation/enforcement can affect operations, costs, and financial condition[61](index=61&type=chunk) - The company accrues for probable and reasonably estimable losses related to regulatory matters and legal proceedings, but outcomes could result in liabilities exceeding accruals and insurance, materially impacting financial results[64](index=64&type=chunk)[65](index=65&type=chunk) [Economic Overview and Impact of Financial Market Events](index=12&type=section&id=Economic%20Overview%20and%20Impact%20of%20Financial%20Market%20Events) The U.S. economy grew 3.0% in Q2 2025, with equity and bond markets rising, while the Federal Reserve maintained stable rates - U.S. economy grew at an annualized pace of **3.0%** in Q2 2025, following a 0.5% contraction in Q1 2025[66](index=66&type=chunk) - Equity markets (S&P 500) rose **10