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SAN DIEGO, Aug. 15, 2017 -- Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today released its monthly activity report for July 2017.
Total brokerage and advisory assets served at the end of July were approximately $550 billion, a 1.4 percent increase compared to the end of June 2017. Total Net New Assets for July were $0.9 billion. Total client cash sweep balances at the end of July were $27.3 billion, a 1.8 percent decrease compared to June 2017.
| (End of Period $ in billions, unless noted) | July | June | % | |||
| 2017 | 2017 | Change | ||||
| Assets Served | ||||||
| Brokerage Assets | 307.5 | 305.2 | 0.8 | % | ||
| Advisory Assets | 242.2 | 236.8 | 2.3 | % | ||
| Total Brokerage and Advisory Assets | 549.7 | 542.0 | 1.4 | % | ||
| Net New Advisory Assets | 2.5 | 2.0 | n/m | |||
| Net New Brokerage Assets | (1.6 | ) | (2.1 | ) | n/m | |
| Total Net New Assets | 0.9 | (0.1 | ) | n/m | ||
| Net Brokerage to Advisory Conversions | 0.7 | 0.6 | n/m | |||
| Insured Cash Account Balances | 21.5 | 20.8 | 3.4 | % | ||
| Deposit Cash Account Balances | 3.6 | 3.7 | (2.7 | %) | ||
| Money Market Account Cash Balances | 2.2 | 3.3 | (33.3 | %) | ||
| Total Cash Sweep Balances | 27.3 | 27.8 | (1.8 | %) | ||
| Market Indices | ||||||
| S&P 500 (end of period) | 2,470 | 2,423 | 1.9 | % | ||
| Fed Funds Effective Rate (average bps) | 116 | 104 | n/m | |||
For additional information regarding these and other LPL Financial business metrics, please refer to the company’s most recent earnings release, which is available in the Press Releases section of investor.lpl.com.
About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served approximately $550 billion in brokerage and advisory assets as of July 31, 2017. LPL is one of the fastest growing RIA custodians and the nation’s largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2017), and the firm and its financial advisors were ranked No. 1 in net customer loyalty in a 2016 Cogent ReportsTM study. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 financial advisors and over 700 financial institutions, enabling them to provide a range of financial services including wealth management, retirement planning, financial planning and other investment services to help their clients turn life’s aspirations into financial realities. As of June 30, 2017, financial advisors associated with LPL served more than 4 million client accounts across the U.S. as well as an estimated 46,000 retirement plans with an estimated $138 billion in retirement plan assets. Additionally, LPL supports approximately 3,700 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego. For more information, visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.
Investor Relations Chris Koegel (617) 897-4574 Media Relations Jeff Mochal (704) 733-3589 investor.lpl.com/contactus.cfm
