LPL Financial: Total client cash balances at October-end $48.3B up $2.5B M/M

LPL Financia a wholly owned subsidiary of LPL Financial (LPLA) Holdings released its monthly activity report for October 2024. Total advisory and brokerage assets at the end of October were $1.67T , an increase of $81.2Bn, or 5.1%, compared to the end of September 2024. Total net new assets for October were $96.6B, which included $88.B of acquired net new assets resulting from the acquisition of Atria Wealth Solutions, and $0.3B of acquired net new assets resulting from Liquidity & Succession activity. Total organic net new assets for October were $8.3B , translating to a 6.2% annualized growth rate. This included $1B of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Excluding these assets, organic net new assets were $9.3 B translating to a 7.0% annualized growth rate. Total organic net new advisory assets were $8.8B , translating to a 11.9% annualized growth rate. Excluding the off-boarded assets from misaligned large OSJs, total organic net new advisory assets were $9.1 billion, translating to a 12.2% annualized growth rate. Total client cash balances at the end of October were $48.3B , an increase of $2.5B compared to the end of September 2024. This included $2.3 B n resulting from the acquisition of Atria. Net buying in October was $12.5B