LPL Financial Holdings (LPLA) Company Report

LPL Financial Holdings Inc. (LPLA) acquired a minority ownership stake in Private Advisor Group, which manages $41.3 billion in assets under management (AUM) as of June 30, 2025.
Republic Capital Group served as the investment banking advisor to Private Advisor Group for this transaction.
The investment strengthens the strategic ties between LPL and Private Advisor Group, broadening Private Advisor Group's ownership structure and aiming to expand advisor support programs and resources.

Nov 20, 2025, 5:12 PM

Press Release

LPL Financial Acquires Minority Stake in Private Advisor Group

LPLA

M&A

New Projects/Investments

LPL Financial acquired a minority ownership stake in Private Advisor Group, with the agreement becoming effective on November 18, 2025.
This investment aims to deepen Private Advisor Group's alignment with LPL, fostering innovation and accelerating advisor growth and engagement.
Private Advisor Group, which had over $41.3 billion in assets under management as of June 30, 2025, will continue to operate independently, with LPL joining Merchant Investment Management as a minority owner.

Nov 19, 2025, 2:26 PM

Press Release

LPL Financial Launches Cash Management Account

LPLA

Product Launch

New Projects/Investments

LPL Financial has launched its Cash Management Account (CMA), a solution designed to integrate traditional banking features with investment capabilities.
The CMA offers FDIC protection up to $2.5 million for individual accounts ($5 million for joint accounts) and includes modern banking tools like direct deposit, mobile check deposit, and a debit card.
This new offering aims to empower advisors to provide a more integrated financial experience, enhancing their ability to compete effectively in the marketplace.

Nov 12, 2025, 2:00 PM

Press Release

LPL Financial Reports Record Q3 2025 Adjusted EPS and Asset Growth, Progresses Commonwealth Acquisition

LPLA

Earnings

M&A

Guidance Update

LPL Financial reported record Q3 2025 adjusted EPS of $5.20, a 25% increase from a year ago, with total assets increasing to a record $2.3 trillion.
The company attracted $33 billion in organic net new assets, representing a 7% annualized growth rate, and recruited $33 billion in assets during Q3, contributing to a record $168 billion over the trailing 12 months.
The acquisition of Commonwealth Financial Network closed in Q3, adding $275 billion in assets, and the company is tracking towards a 90% retention target with advisors representing nearly 80% of assets already signed. The run rate EBITDA expectation for Commonwealth has increased to approximately $425 million once fully integrated.
LPL Financial lowered its 2025 G&A Net outlook to a range of $1,860 million to $1,880 million due to cost initiatives. Additionally, pricing changes starting next year are estimated to increase the trailing 12-month adjusted pre-tax margin by approximately 1%.

Oct 30, 2025, 9:00 PM

Transcript

LPLA Reports Q3 2025 Financial and Operating Results

LPLA

Earnings

Guidance Update

Revenue Acceleration/Inflection

LPLA's Total Advisory and Brokerage Assets reached $2,315 billion in Q3 2025.
The company reported Gross Profit of $1,479 million and Adjusted EPS of $5.20 for Q3 2025.
Organic Total Net New Assets (NNA) for Q3 2025 were $32.7 billion.
LPLA recorded a net loss of $30 million in Q3 2025, with Adjusted net income at $418 million.
The 2025 Core G&A outlook was lowered to $1,860-1,880 million.

Oct 30, 2025, 9:00 PM

Presentation

LPL Financial Reports Q3 2025 Results

LPLA

Earnings

M&A

Guidance Update

LPL Financial reported a net loss of $30 million, or $0.37 per diluted share, for Q3 2025, primarily due to $419 million in one-time acquisition costs related to the Commonwealth Financial Network acquisition; however, Adjusted EPS increased 25% year-over-year to $5.20.
Total advisory and brokerage assets increased 45% year-over-year to $2.3 trillion in Q3 2025, with total net new assets of $308 billion, including $275 billion from the Commonwealth acquisition.
The company completed the conversion of Atria Wealth Solutions, Inc., adding $115 billion in brokerage and advisory assets, and closed the acquisition of Commonwealth, which is expected to contribute $425 million in estimated run-rate EBITDA.
LPL Financial lowered its 2025 Core G&A outlook to a range of $1,860-1,880 million.
A $0.30 per share dividend was declared, payable on December 1, 2025.

Oct 30, 2025, 8:13 PM

8-K

Middlefield Banc Corp. Reports Nine-Month 2025 Financial Results

LPLA

Earnings

Dividends

Revenue Acceleration/Inflection

Middlefield Banc Corp. reported diluted earnings of $0.65 per share for the third quarter of 2025, contributing to year-to-date earnings of $2.01 per share.
The company achieved record total loans of $1.61 billion, an increase of 6.8%, and record total assets of $1.98 billion, an increase of 6.5% year-over-year.
Net interest margin expanded by 33 basis points to 3.79% for the third quarter of 2025, and the return on average assets for the nine months ended September 30, 2025, was 1.14%, up from 0.77% a year ago.
Book value per share increased 6.1% to $27.71, and tangible book value per share increased 8.4% to $22.62 at September 30, 2025. The company also increased its quarterly cash dividend by $0.01, or 5%, starting in the first quarter of 2025.

Oct 22, 2025, 11:40 AM

Press Release

LPL Financial Reports Strong Q2 2025 Results and Provides Update on Acquisitions

LPLA

Earnings

M&A

Guidance Update

LPL Financial reported strong Q2 2025 financial results, with adjusted EPS of $4.51 and total assets reaching a record $1.9 trillion , driven by $21 billion in organic net new assets.
The company successfully completed the conversion of Atria Wealth Solutions in July and expects to onboard First Horizon's wealth management business, representing approximately $17 billion in client assets, in Q3.
LPL Financial is on track to close the acquisition of Commonwealth Financial Network on July 31, 2025 , with an expected 90% advisor retention target and conversion of assets to its platform in 2026.
The full year 2025 Core G&A outlook has been updated to a range of $1.88 billion to $1.92 billion to include Commonwealth expenses , and the leverage ratio is expected to be approximately 2.25 times following the close, with a plan to deleverage to approximately 2 times by 2026.

Aug 1, 2025, 6:53 PM

Commonwealth Financial Network Achieves Twelfth Consecutive #1 J.D. Power Ranking Ahead of LPL Financial Integration

LPLA

M&A

Commonwealth Financial Network received its twelfth consecutive #1 ranking in Independent Advisor Satisfaction from J.D. Power, with an overall score of 834 on a 1,000-point scale, outpacing the next-highest-ranked firm by 93 points.
The firm achieved the highest score in every reported key driver of advisor satisfaction, including compensation, leadership and culture, professional development, products and marketing, operational support, and technology.
Commonwealth is preparing to join LPL Financial later this year, which is expected to provide its advisors with access to LPL's scale, capital opportunities, robust solutions, and expert resources.
As of December 31, 2024, Commonwealth partners with approximately 2,345 independent financial advisors who oversee more than $344 billion in assets.

Jul 16, 2025, 1:15 PM

Press Release

LPL Financial Outlines Growth Strategy and M&A Initiatives

LPLA

M&A

Revenue Acceleration/Inflection

New Projects/Investments

LPL Financial emphasized its industry-leading scale and strategic focus on horizontal expansion and vertical integration to serve advisers and financial institutions, positioning itself to capture additional market share.
The presenters highlighted organic growth fueled by disciplined capital allocation and productivity investments, contributing to high single-digit to low double-digit expansion in AUM and robust earnings performance.
The conference detailed recent M&A activity, including the integration of Atria and the strategic acquisition of Commonwealth, which bolsters its adviser network and asset base.

Jun 4, 2025, 4:41 PM

Earnings Transcripts

Quarterly earnings call transcripts for LPL Financial Holdings.

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