LPK Financial Total Advisory And Brokerage Assets At The End Of January Were $1.36T
Portfolio Pulse from Benzinga Newsdesk
LPL Financial Holdings Inc. (NASDAQ:LPLA) reported an increase in total advisory and brokerage assets to $1.36 trillion at the end of January 2024, marking a 0.6% rise from December 2023. The firm saw $2.0 billion in net new assets, a 1.8% annualized growth rate, and $2.4 billion in net new advisory assets, a 3.9% annualized growth rate. However, total client cash balances decreased by $1.2 billion to $47.3 billion. Net buying for January was $12.0 billion.
February 22, 2024 | 9:42 pm
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LPL Financial Holdings Inc. (LPLA) reported a positive growth in total advisory and brokerage assets to $1.36 trillion in January 2024, with net new assets and advisory assets also showing growth. However, there was a decrease in total client cash balances.
The increase in total advisory and brokerage assets, along with net new assets and advisory assets, indicates a positive trend for LPLA, likely leading to a positive short-term impact on its stock price. The decrease in client cash balances is noted but is less likely to overshadow the positive growth in assets.
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