LPL Financial's April Brokerage & Advisory Assets Fall Sequentially

LPL Financial LPLA witnessed a fall in total brokerage and advisory assets in April 2025. The metric was $1.79 trillion, which declined 0.4% from the prior month but jumped 26.5% year over year.

LPLA’s April Performance Breakdown

Of LPLA’s total assets, brokerage assets were $809.4 billion and advisory assets amounted to $978.6 billion. Brokerage assets decreased 1% from March 2025 but surged 27% year over year. On the other hand, advisory assets rose 0.1% from the previous month and 26.2% from April 2024.

Total organic net new assets (NNAs) were $6.1 billion. It included $0.1 billion from Wintrust Investments, LLC, that was onboarded in the month and $0.2 billion off-boarded assets as part of the previously disclosed planned separation from misaligned large offices of supervisory jurisdiction. Excluding these assets, organic NNAs were $6.2 billion.

LPL Financial reported $51.8 billion of total client cash balance in April, down 2.4% from the prior month but up 13.3% from April 2024. Of the total balance, $35.2 billion was insured cash, $10.7 billion was deposit cash and the remaining was money-market sweep and client cash balance.

Our Take on LPL Financial

LPL Financial’s impending buyout of Commonwealth Financial Network, acquisitions of Investment Center and Atria Wealth, solid advisor productivity and recruiting efforts will support advisory revenues. The company is expected to keep expanding inorganically, which will help diversify operations. However, uncertainty about the performance of the capital markets and substantial goodwill on the balance sheet are worrisome.

In the past year, LPLA shares have risen 32.7%, outperforming the industry’s growth of 24.7%.
 

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Currently, LPL Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of LPLA’s Peers in April

Charles Schwab SCHW released its monthly activity report for April 2025. The company’s core NNAs of $2.7 billion in April 2025 surged substantially from the prior-year month and declined 95% in the previous month. The decline was due to “the impact of client tax disbursements during the month.”

SCHW’s total client assets were $9.89 trillion, up 12% from April 2024 and stable sequentially. This was driven by the volatile markets during the month. Client assets receiving ongoing advisory services were $5.04 trillion, growing 12% from the year-ago period and relatively stable with the prior month.

Interactive Brokers Group IBKR released the Electronic Brokerage segment’s performance metrics for April 2025. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. The company reported a rise in client Daily Average Revenue Trades (DARTs) from a year ago.

IBKR’s total client DARTs in April were 3,818,000, representing a 63.2% increase from April 2024 and a 10% rise from March 2025.

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This article originally published on Zacks Investment Research (zacks.com).

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