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LPL Financial's October total advisory and brokerage assets drop 0.3% M/M

  • LPL Financial, wholly owned subsidiary of LPL Financial Holdings (NASDAQ:LPLA), reported a M/M drop of 0.3% to $808B in total advisory and brokerage assets served at the end of October.
  • Total organic net new assets were an inflow of $5B translating to a 7.4% annualized growth rate; includes total organic net new advisory assets of $4.8B.
  • Total net new assets for the month stood at $6.5B, including $1.5B of advisory and brokerage assets from Lucia Securities that were onboarded in October.
  • At the end of the month, total client cash balances stood at $48.3B (+$1.7B M/M); October net buying stood at $2.5B.

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