We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LPL Financial (LPLA) Records Improvement in April Assets
Read MoreHide Full Article
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $1.06 trillion at the end of April 2021 grew 10.9% from the prior month and 48.1% year over year. Of the total assets, brokerage assets were $512.7 billion and advisory assets totaled $550.5 billion.
The increase was mainly driven by the impressive performance of the equity markets and strategic acquisition of Waddell & Reed’s wealth management business. Notably, compared with March 2021, the S&P 500 Index rallied 5.2% in April.
Total net new assets were $73.8 billion in the reported month. In March 2021, net new assets were $19.4 billion and in April 2020 it summed $3.4 billion.
Notably, on Apr 30 LPL Financial completed the acquisition of Waddell & Reed’s wealth management business. Total acquired net new assets for April were $67.1 billion. Of this, $32.6 billion was advisory assets and $34.5 billion was brokerage assets.
LPL Financial reported $47.7 billion of total client cash balance, down 1.2% from March 2021 but up 1.5% from April 2020. This included $1.1 billion of client cash balances from Waddell & Reed. Further, of the total balance, $35 billion was insured cash and $7.5 billion was deposit cash, while the remaining was money-market balance.
Shares of LPL Financial have surged 61.6% in the past six months, outperforming 46.6% growth recorded by the industry.
Interactive Brokers Group (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for April 2021. The segment reported a substantial surge in Daily Average Revenue Trades (DARTs) for the reported month. Total client DARTs were roughly 2.2 million, surging 27% from April 2020 and declining 27% from March 2021.
Tradeweb Markets Inc. (TW - Free Report) reported total trading volume of $19.3 trillion in April 2021. Average daily volumes were a record $896.8 billion, up 17.5% year over year.
Charles Schwab (SCHW - Free Report) released its activity report for the month of April 2021. Total client assets were $7.34 trillion, up 4% from March 2021 and 94% from April 2020. Client assets receiving ongoing advisory services were $3.6 trillion, up 3.7% from the prior month and 85.1% year over year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
LPL Financial (LPLA) Records Improvement in April Assets
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $1.06 trillion at the end of April 2021 grew 10.9% from the prior month and 48.1% year over year. Of the total assets, brokerage assets were $512.7 billion and advisory assets totaled $550.5 billion.
The increase was mainly driven by the impressive performance of the equity markets and strategic acquisition of Waddell & Reed’s wealth management business. Notably, compared with March 2021, the S&P 500 Index rallied 5.2% in April.
Total net new assets were $73.8 billion in the reported month. In March 2021, net new assets were $19.4 billion and in April 2020 it summed $3.4 billion.
Notably, on Apr 30 LPL Financial completed the acquisition of Waddell & Reed’s wealth management business. Total acquired net new assets for April were $67.1 billion. Of this, $32.6 billion was advisory assets and $34.5 billion was brokerage assets.
LPL Financial reported $47.7 billion of total client cash balance, down 1.2% from March 2021 but up 1.5% from April 2020. This included $1.1 billion of client cash balances from Waddell & Reed. Further, of the total balance, $35 billion was insured cash and $7.5 billion was deposit cash, while the remaining was money-market balance.
Shares of LPL Financial have surged 61.6% in the past six months, outperforming 46.6% growth recorded by the industry.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Brokerage Firms
Interactive Brokers Group (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for April 2021. The segment reported a substantial surge in Daily Average Revenue Trades (DARTs) for the reported month. Total client DARTs were roughly 2.2 million, surging 27% from April 2020 and declining 27% from March 2021.
Tradeweb Markets Inc. (TW - Free Report) reported total trading volume of $19.3 trillion in April 2021. Average daily volumes were a record $896.8 billion, up 17.5% year over year.
Charles Schwab (SCHW - Free Report) released its activity report for the month of April 2021. Total client assets were $7.34 trillion, up 4% from March 2021 and 94% from April 2020. Client assets receiving ongoing advisory services were $3.6 trillion, up 3.7% from the prior month and 85.1% year over year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>