LPLA News & Events

LPL Financial released its monthly activity report for February. Total advisory and brokerage assets at the end of February were $2.43T, an increase of $22.3B, or 0.9%, compared to the end of January. Advisory assets as a percentage of total assets increased to 59.3%, up from 54.6% a year ago. Total organic net new assets for February were $9.1B, translating to a 4.5% annualized growth rate. Total client cash balances at the end of February were $55.9B, a decrease of $0.6B compared to the end of January. In February, $0.5B of sweep money market funds were converted to purchased money market funds. Prior to this impact, client cash balances decreased by $0.2B. Net buying in February was $16.6B.

LPL Financial announced that advisors Stephen Horvath, Brady Doe, and David Hermann have joined LPL Financial's broker-dealer and Registered Investment Advisor platform to form Consilium Wealth. The team reported serving over $250 million in advisory, brokerage and retirement plan assets Horvath and Doe join LPL from Cambridge Investment and Hermann joins from First Heartland Capital.

LPL Financial announced that financial advisors Frank Boley and Susie Garber-Johnson have launched a new independent practice, Legacy Ridge Private Wealth, through affiliation with LPL Financial's supported independence model, LPL Strategic Wealth. They reported serving approximately $600 million in advisory, brokerage and retirement plan assets and join LPL from D.A. Davidson.

LPL Financial announced the promotions of Kirby Horan-Adams and Joe Lanser to managing director roles, reflecting their expanded leadership responsibilities and longstanding impact across the firm. Horan-Adams has been promoted to managing director of business design and solutioning. In this role, she leads teams responsible for designing and delivering business solutions that enhance LPL's client experience and sales effectiveness. Lanser has been promoted to managing director and head of financial planning and analysis. He oversees LPL's financial strategy, enterprise planning and performance management, partnering closely with executive leadership to support strategic execution, investment decisions and long-term operational discipline.