LPL Financial:Total advisory and brokerage assets $1.76T at November-end, up 5%

LPL Financial (LPLA) released its monthly activity report for November 2024. Total advisory and brokerage assets at the end of November were $1.76T, an increase of $86B, or 5.1%, compared to the end of October 2024. Total net new assets for November were $35B, which included $0.8B of acquired net new assets resulting from Liquidity & Succession activity. Total organic net new assets for November were $34.2B, translating to a 25.9% annualized growth rate. This included $26.3B of assets from Prudential Advisors that onboarded in November, and $0.6B of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Prior to these impacts, organic net new assets were $8.6B , translating to a 6.5% annualized growth rate.Total organic net new advisory assets were $27.9B, translating to a 37.6% annualized growth rate. Excluding the assets onboarded from Prudential and the off-boarded assets from misaligned large OSJs, total organic net new advisory assets were $9.6B, translating to a 12.9% annualized growth rate. Total client cash balances at the end of November were $50.5B , an increase of $2.2B n compared to the end of October 2024. This included $1.9B resulting from the onboarding of Prudential. Net buying in November was $12.4B.

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