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LPL Financial (LPLA) October Brokerage & Advisory Assets Up
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LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $731.7 billion at the end of October 2019 grew 1.7% from the prior month and 12.7% year over year. Of the total brokerage and advisory assets, brokerage assets were $386.5 billion while advisory assets were $3415.3 billion.
Total net new assets were an inflow of $3.3 billion in October. This included $0.1 billion of outflows related to a large hybrid firm. Prior to the outflows, total net new assets were an inflow of $3.4 billion.
LPL Financial reported $31.6 billion of total client cash sweep balance, up 1.3% from September 2019 and 8.6% from October 2018. Of the total, $22.6 billion was insured cash and $4.6 billion was deposit cash while the remaining $4.4 billion was money market balance.
Backed by decent equity markets performance, trading activities are expected to improve. This, in turn, will support revenues.
Shares of LPL Financial have rallied 5.5% over the past six months, outperforming 1.2% growth for the industry.
E*TRADE Financial’s Daily Average Revenue Trades (DARTs) for October were 290,578, up 9% from the previous month but down 1% year over year. Notably, derivatives comprised 36% of DARTs in October.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a fall in DARTs for October 2019. Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018.
Charles Schwab (SCHW - Free Report) is likely to release the monthly activity report for October in the coming days.
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LPL Financial (LPLA) October Brokerage & Advisory Assets Up
LPL Financial Holdings Inc.’s (LPLA - Free Report) total brokerage and advisory assets of $731.7 billion at the end of October 2019 grew 1.7% from the prior month and 12.7% year over year. Of the total brokerage and advisory assets, brokerage assets were $386.5 billion while advisory assets were $3415.3 billion.
Total net new assets were an inflow of $3.3 billion in October. This included $0.1 billion of outflows related to a large hybrid firm. Prior to the outflows, total net new assets were an inflow of $3.4 billion.
LPL Financial reported $31.6 billion of total client cash sweep balance, up 1.3% from September 2019 and 8.6% from October 2018. Of the total, $22.6 billion was insured cash and $4.6 billion was deposit cash while the remaining $4.4 billion was money market balance.
Backed by decent equity markets performance, trading activities are expected to improve. This, in turn, will support revenues.
Shares of LPL Financial have rallied 5.5% over the past six months, outperforming 1.2% growth for the industry.
LPL Financial currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Upcoming Release
E*TRADE Financial’s Daily Average Revenue Trades (DARTs) for October were 290,578, up 9% from the previous month but down 1% year over year. Notably, derivatives comprised 36% of DARTs in October.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a fall in DARTs for October 2019. Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018.
Charles Schwab (SCHW - Free Report) is likely to release the monthly activity report for October in the coming days.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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