LPL Financial Reports Monthly Activity for February 2022

SAN DIEGO, March 17, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly business report for February 2022.

Total advisory and brokerage assets at the end of February were approximately $1.14 trillion, down $13 billion, or 1.1%, from the end of January 2022.

Total net new assets for February were $5.2 billion, which translates to an annualized growth rate of 5.4%. Total net new consulting assets were $5.4 billion, translating to an annualized growth rate of 10.5%.

Total customer cash balances at the end of February were $60.5 billion, an increase of $2.1 billion from the end of January 2022. Net purchases in February were 4, 0 billion dollars.

(End of period in billions of dollars, unless otherwise indicated) February January Change February Change
2022 2022 M/M 2021 Y/Y
Advisory and brokerage assets
Advisory assets 612.9 619.6 (1.1%) 477.4 28.4%
Brokerage assets 531.9 538.2 (1.2%) 447.7 18.8%
Total advisory and brokerage assets 1,144.8 1,157.8 (1.1%) 925.1 23.7%
Total net new assets
Net new advisory assets 5.4 5.9 n/m 6.0 n/m
Net new brokerage assets (0.2) 0.1 n/m (0.0) n/m
Total net new assets 5.2 6.1 n/m 5.9 n/m
New organic net assets
New Net Organic Advice Assets 5.4 5.9 n/m 6.0 n/m
Net new organic brokerage assets (0.2) 0.1 n/m (0.0) n/m
Total organic net new assets 5.2 6.1 n/m 5.9 n/m
Net Brokerage to Advice Conversions 0.9 1.2 n/m 1.1 n/m
Customer cash balances
Insured cash account balances 29.9 29.6 1.0% 37.3 (19.8%)
Deposit of cash account balances 10.5 9.7 8.2% 7.9 32.9%
Total bank scan balances 40.4 39.4 2.5% 45.2 (10.6%)
Money Market Account Cash Balances 18.4 17.3 6.4% 1.4 n/m
Money market funds purchased 1.8 1.7 5.9% 1.7 5.9%
Total Money Market Balances 20.1 19.0 5.8% 3.1 n/m
Total customer cash balances 60.5 58.4 3.6% 48.3 25.3%
Net buying (selling) activity 4.0 3.5 n/m 6.0 n/m
Market indices
S&P 500 (end of period) 4,374 4,516 (3.1%) 3,811 14.8%
Russell 2000 (end of period) 2,048 2,028 1.0% 2,201 (7.0%)
Effective federal funds rate (basis point average) 8 8 0.0% 8 0.0%

For more information regarding these and other LPL Financial business metrics, please see the company’s most recent earnings announcement, which is available in the quarterly earnings section of investor.lpl.com.

About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that business should work for the advisor, not the other way around. Today, LPL is a leader in the markets we serve*, supporting nearly 20,000 financial advisers, including advisers in approximately 800 institutional investment programs and approximately 500 registered investment advisory firms (“RIAs”) ) at national scale. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to personalized advice from a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice perfectly. And they have the freedom to manage their relationships with their customers because they know their customers best. Simply put, we take care of our advisors, so they can take care of their clients.

* Best RIA Custodian (Cerulli Associates, 2020 US RIA Marketplace Report); #1 independent brokerage in the United States (based on total revenue, Financial Planning magazine 1996-2021); #1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021. LPL Financial and its affiliates provide financial services only from the United States.

Securities and advisory services offered by LPL Financial LLC, an SEC-registered broker-dealer and investment adviser. FINRA/SIPC member.

Throughout this communication, the terms “financial advisers” and “advisors” are used to refer to registered representatives and/or representatives of investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Marianne R. Winn