LPL Financial assets surge to $2.26 trillion after Commonwealth acquisition

SAN DIEGO - LPL Financial Holdings Inc. (NASDAQ:LPLA), a financial services company with a market capitalization of $27.3 billion and strong financial health according to InvestingPro metrics, reported total advisory and brokerage assets reached $2.26 trillion at the end of August 2025, representing a 16.7% increase from July, according to a monthly activity report released Thursday.

The significant growth was primarily driven by the acquisition of Commonwealth Financial Network, which contributed $275 billion in acquired net new assets. Excluding the acquisition, LPL Financial recorded $17.8 billion in organic net new assets during August, translating to an 11% annualized growth rate. This growth complements the company’s impressive 28.5% revenue growth over the last twelve months, as reported by InvestingPro, which highlights 8 additional key insights about the company’s performance.

The August figures included $13.8 billion of assets from First Horizon Bank that onboarded during the month, while $2.2 billion of assets off-boarded as part of a previously disclosed planned separation from what the company described as "misaligned large OSJs."

Total client cash balances increased to $52.7 billion, up $3.2 billion from July, with $3.9 billion resulting from the Commonwealth acquisition. Net buying activity in August reached $14.2 billion.

Advisory assets grew to $1.31 trillion, a 21.5% month-over-month increase, while brokerage assets rose to $955.3 billion, up 10.8% from July.

Year-over-year, total advisory and brokerage assets increased by 45.1% compared to August 2024, with advisory assets up 50.5% and brokerage assets rising 38.3%.

The S&P 500 Index closed at 6,460 at the end of August, representing a 1.9% increase from July and a 14.4% gain year-over-year.

This information is based on a press release statement from LPL Financial.

In other recent news, LPL Financial Holdings reported its second-quarter earnings for 2025, exceeding analysts’ expectations with an adjusted earnings per share (EPS) of $4.51, compared to the forecasted $4.24. Despite this earnings beat, the company experienced a revenue shortfall, posting $3.84 billion against a forecast of $3.76 billion. Goldman Sachs has reinstated coverage on LPL Financial with a Buy rating and set a price target of $405.00, noting the company’s underperformance relative to peers since the announcement of its acquisition of Commonwealth Financial Network. Citizens JMP also reiterated a Market Outperform rating with a $440.00 price target, highlighting the stock’s valuation at approximately 16.5 times the 2026 earnings per share estimate. In a strategic move, a team of six advisors from Skyward Financial, managing approximately $700 million in assets, joined LPL Financial’s platform. Additionally, former LPL CEO Mark Casady has taken on the role of Executive Chairman at FMG Suite following its acquisition by private equity firm GTCR. These developments provide a dynamic landscape for LPL Financial’s future growth and strategic positioning.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.