LPL Financial Reports Monthly Activity for July 2020
SAN DIEGO, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Leading retail investment advisory firm and independent broker-dealer LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (), today released its monthly activity report for July 2020.
Total brokerage and advisory assets served at the end of July were approximately $792 billion, an increase of 4.0% compared to the end of June 2020.
Total net new assets for July were an inflow of $2.9 billion, translating to a 4.6% annualized growth rate. This includes total net new advisory assets of $2.9 billion, translating to a 9.3% annualized growth rate.
Total client cash balances at the end of July were $45.1 billion, a decrease of $0.2 billion compared to the end of June 2020. Net buying in July was $2.9 billion.
| (End of Period $ in billions, unless noted) | July | June | Change | July | Change | ||
| 2020 | 2020 | M/M | 2019 | Y/Y | |||
| Assets Served | |||||||
| Advisory Assets | 392.7 | 375.3 | 4.6 | % | 332.1 | 18.2 | % |
| Brokerage Assets | 399.2 | 386.4 | 3.3 | % | 381.3 | 4.7 | % |
| Total Brokerage and Advisory Assets | 791.9 | 761.7 | 4.0 | % | 713.4 | 11.0 | % |
Total Net New Assets* | |||||||
| Net New Advisory Assets | 2.9 | 4.3 | n/m | 2.8 | n/m | ||
| Net New Brokerage Assets | 0.0 | 1.0 | n/m | 0.1 | n/m | ||
| Total Net New Assets | 2.9 | 5.4 | n/m | 2.9 | n/m | ||
| Net Brokerage to Advisory Conversions | 0.7 | 0.7 | n/m | 0.6 | n/m | ||
Client Cash Balances | |||||||
| Insured Cash Account Balances | 33.2 | 33.1 | 0.3 | % | 21.3 | 55.9 | % |
| Deposit Cash Account Balances | 7.6 | 7.7 | (1.3 | )% | 4.2 | 81.0 | % |
| Total Insured Sweep Balances | 40.8 | 40.8 | 0.0 | % | 25.5 | 60.0 | % |
| Money Market Sweep Accounts | 1.6 | 1.6 | n/m | 3.0 | n/m | ||
| Purchased Money Market Funds | 2.8 | 2.8 | n/m | 1.3 | n/m | ||
| Total Money Market Balances | 4.4 | 4.5 | (2.2 | )% | 4.3 | 2.3 | % |
| Total Client Cash Balances | 45.1 | 45.3 | (0.4 | )% | 29.9 | 50.8 | % |
| Net Buy (Sell) Activity | 2.9 | 4.5 | n/m | 3.3 | n/m | ||
| Market Indices | |||||||
| S&P 500 (end of period) | 3,271 | 3,100 | 5.5 | % | 2,980 | 9.8 | % |
| Fed Funds Effective Rate (average bps) | 9 | 8 | n/m | 240 | n/m | ||
*Total Net New Assets consists of asset inflows minus outflows, plus dividends, plus interest, minus advisory fees.
For additional information regarding these and other LPL Financial business metrics, please refer to the Company’s , which is available in the section of .
About LPL Financial
LPL Financial () is a leader in the retail financial advice market and the nation’s largest independent broker/dealer(+). We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
+ Based on total revenues, Financial Planning magazine June 1996-2020.
Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Jeff Mochal, (704) 733-3589
