LPL Financial reports assets at February-end down 1.5% to $1.15T

LPL Financial released its monthly activity report for February 2023. Total advisory and brokerage assets at the end of February were $1.15T, a decrease of $17.1B, or 1.5%, compared to the end of January 2023. Total net new assets for February were $5.2 billion, translating to a 5.4% annualized growth rate. Total net new advisory assets were $4.3B, translating to an 8.4% annualized growth rate. Total client cash balances at the end of February were $56.2B, a decrease of $3.5B compared to the end of January 2023. Net buying in February was $12.4B, a new monthly high.