LPL Financial Reports Monthly Activity for February 2018

SAN DIEGO, March 22, 2018 (GLOBE NEWSWIRE) -- 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 February 2018.

Total brokerage and advisory assets served at the end of February were approximately $651 billion, a 2.3 percent increase compared to the end of January 2018. Total net new assets for February were $31.4 billion. Total client cash sweep balances at the end of February were $29.7 billion, a 3.5 percent increase compared to January 2018.

Total net new assets for February include $29.8 billion from the acquisition of the broker/dealer network of National Planning Holdings, Inc. (NPH), driven by onboarded custodied assets from the second wave of former NPH advisors, as well as onboarded direct business assets from both the first and second waves of former NPH advisors.  Total net new assets from NPH through the end of February were $66.6 billion.  The Company continues to anticipate total asset transfer from NPH in the range of $70 to $75 billion driven by additional direct business assets joining its platform.

Prior to NPH, total brokerage and advisory assets at the end of February were approximately $584 billion, a 2.4 percent decrease compared to the end of January 2018. Total net new assets for February were $1.6 billion. Total client cash sweep balances at the end of February were $27.7 billion, flat compared to January 2018.

(End of Period $ in billions, unless noted)FebruaryJanuary 
2018 2018 Change
Assets Served   
Advisory Assets284.3 284.2 n/m
Brokerage Assets366.6 352.3 4.1%
Total Brokerage and Advisory Assets 650.9 636.5 2.3%
Assets Served Prior to NPH   
Advisory Assets270.6 276.0 (2.0)%
Brokerage Assets313.6 322.4 (2.7)%
Total Brokerage and Advisory Assets 584.2 598.4 (2.4)%
Net New Assets   
Net New Advisory Assets8.4 3.0  n/m
Net New Brokerage Assets23.0 0.7  n/m
Total Net New Assets31.4 3.7  n/m
Net New Assets Prior to NPH   
Net New Advisory Assets2.5 2.8 n/m
Net New Brokerage Assets(0.9)(1.6)n/m
Total Net New Assets1.6 1.2 n/m
Net Brokerage to Advisory Conversions0.8 1.0 n/m
(End of Period $ in billion, unless noted)FebruaryJanuary 
2018 2018 Change
Cash Sweep Balances    
Insured Cash Account Balances22.6 22.2 1.8%
Deposit Cash Account Balances4.1 4.0 2.5%
Money Market Account Cash Balances3.0 2.5 20.0%
Total Cash Sweep Balances29.7 28.7 3.5%
Cash Sweep Balances Prior to NPH   
Insured Cash Account Balances21.8 21.7 0.5%
Deposit Cash Account Balances3.8 3.8 n/m
Money Market Account Cash Balances2.2 2.2 n/m
Total Cash Sweep Balances27.7 27.7 n/m
Market Indices   
S&P 500 (end of period)2,714 2,824 (3.9)%
Fed Funds Effective Rate (average bps)142 142 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

Forward–Looking Statement
The statement in this press release regarding the total asset transfer anticipated by the Company from its acquisition of the broker/dealer network of National Planning Holdings, Inc. (“NPH”) constitutes a forward-looking statement.  The statement is based on the Company's estimates and expectations as of March 22, 2018 and is not a guarantee that the future results will be achieved.  The level of future asset transfer is subject to risks and uncertainties which may cause actual results to be materially different than those expressed or implied. Important factors that could cause or contribute to such differences include: difficulties or delays in onboarding the clients, client assets or businesses of former NPH advisors; our ability to retain the former NPH advisors; the choice by clients of the former NPH’s advisors not to transfer or maintain their respective assets in accounts at LPL Financial, and other factors set forth in Part I, “Item 1A. Risk Factors” in the Company's 2017 Annual Report on Form 10-K, as may be amended or updated in the Company's subsequent filings with the SEC. Except as required by law, the Company specifically disclaims any obligation to update this forward-looking statement as a result of developments occurring after the date of this release, even if its estimates change, and you should not rely on the statement as representing the Company's views as of any date subsequent to the date of this press release.

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. /NASDAQ: LPLA

*Based on total revenues, Financial Planning magazine June 1996-2017.

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