Brokerage and investment advisory services provider LPL Financial (LPLA) has launched bookkeeping services.
Advisors can streamline business decisions and receive accurate and timely financial reports from a dedicated bookkeeper Advisors can streamline business decisions and receive accurate and timely financial reports from a dedicated bookkeeper
LPL Financial''s (LPLA) total advisory and brokerage assets fell to $1.10B in August, a slump of 1.7% from July and -4.5% from a year earlier. Net new assets, though, came in at $9.7B,…
Baron Funds, an asset management firm, published its “Baron Fintech Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. In the quarter ended June 30, 2022, Baron FinTech Fund (the “Fund”) fell 22.40% (Institutional Shares) compared with a 16.10% decline for the S&P 500 Index (the “Benchmark”) and a […]
There was a glimmer of hope at Tuesday''s open that today might be the day stocks reverse their recent downward trend. But that was dashed mid-morning when the major market indexes took a decisive turn lower after a pair of economic reports poured cold water on expectations the Fed might slow its rate-hiking campaign anytime soon. SEE MORE Hedge Funds'' 21 Top Blue-Chip Stocks to Buy Now Specifically, data from the Labor Department this morning showed the number of job openings in the U.S. rose to 11.2 million in July from 11 million in June, while those quitting their positions were little changed at 4.2 million. Additionally, the Conference Board''s consumer confidence index spiked to 103.2 in August from July''s 95.3, due in part to falling gas prices , the first time this value has been above its benchmark of 100 since May. "With consumer confidence climbing higher as gasoline prices continuing to inch lower, and providing an extra $100 dollars in consumer pockets, coupled with indications that the labor market remains tight, the Federal Reserve has yet to see the ''pain'' necessary to tamp down demand," says Quincy Krosby, chief global strategist for independent broker-dealer LPL Financial. " For an inflation-fighting central bank, what''s good news on Main Street now makes the job to rein in inflation that much more difficult." Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
LPL Financial trades inside a 5% buy zone. Here''s why the financial stock may be poised for another run higher.
In the physical world, a barbell is a bar with two equal weights on either side that offset one another, creating a perfect balance. Apply this same concept to the investing world, and you have a very simple strategy (by the same name) used by some of the most sophisticated managers and investors. Some of the potential benefits of this strategy are hedging , risk reduction and smoothed returns. SEE MORE Biden''s Inflation Reduction Act: Investing Winners and Losers Physical barbells are perfectly balanced. In the investing world, nothing is perfect, but taking two asset classes that tend not to correlate well and allocating between the two can offer some of the aforementioned benefits. When barbells work, one asset zigs while the other zags. The most common barbell is between stocks and bonds. It is common to see a talking head in financial media drone on about the benefits of the 60/40 or 50/50 portfolio. But it is less common to hear about the benefits of barbelling within the same asset class – pitting stock against stock or bond against bond in order to achieve diversification.
Choppy is the best word to describe how stocks behaved Thursday, with the major indexes spending the session bouncing between positive and negative territory. In focus today was the release of several economic reports, with weak housing data drawing the most attention. The National Association of Realtors this morning said existing home sales fell for a sixth straight month in July – down 5.9% from June to a seasonally adjusted rate of 4.81 million homes. On a year-over-year basis, existing home sales were off 20.2%. SEE MORE Buffett Buys More Apple, Chevron, Occidental Petroleum, in Q2 "Outside of the initial months of the pandemic, existing home sales in July fell to the lowest level since 2015," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial. "A slowdown in housing has real economic impacts across the economy. For the demographic without home equity or a fixed-rate mortgage, inflationary pressures are acute and, unfortunately, rent prices are accelerating." Also on the data front, the Labor Department this morning said weekly jobless claims edged down 2,000 last week to 250,000.
LPL Financial Holdings'' (LPLA) subsidiary released its monthly activity report for July 2022 on Thursday. Total advisory and brokerage assets at the month-end rose 5.6% sequentially…
Hedge Fund Snaps Up LPL Financial Shares (InvestmentNews.com) It looks as if private equity investors aren’t the only ones interested in buying into the financial advice industry. On Monday, hedge fund Lone Pine Capital said in a filing that it had recently acquired almost 2.3 million shares of LPL Financial Holdings Inc., the parent company […]
And today''s move in discretionary names is positive for the market," said Quincy Krosby, chief global strategist for LPL Financial in Charlotte, North Carolina. The Dow Jones Industrial Average rose 166.27 points, or 0.49%, to 34,078.71, the S&P 500 lost 3.09 points, or 0.07%, to 4,294.05 and the Nasdaq Composite dropped 69.28 points, or 0.53%, to 13,058.78.
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Stocks closed out the week with a bang Friday, boosted by an encouraging reading on consumer sentiment. Ahead of today''s opening bell, the University of Michigan said its preliminary consumer sentiment index rose to 55.1 in August from July''s final reading of 51.5. However, the data also showed that 48% of survey respondents believe inflation is negatively impacting their living standards. SEE MORE The 21 Top S&P 500 Stocks Since the Bear-Market Bottom "Consumers are nervous about spending on big ticket items and are increasingly convinced that now is a bad time to buy a vehicle or a major household item," says Jeffrey Roach, chief economist at independent broker-dealer LPL Financial. "Consumer spending will likely slow in the near term." Investors will get a closer look at consumer data next week with July''s retail sales figures due out Thursday morning, and a heavy dose of retailers on the earnings calendar . While their quarterly results will reveal details on consumer spending during the second quarter, post-report earnings calls with analysts could shed more light on current conditions.
A milestone jobs report sent stocks lower on Friday as it sparked concern the Fed will stay aggressive with its rate hikes. SEE MORE Kiplinger''s Weekly Earnings Calendar (Aug. 8-12) Ahead of the opening bell, the Labor Department said the U.S. economy added 528,000 new jobs in July, more than double what economists were expecting. The U.S. has now recouped all 22 million positions lost in the early months of the pandemic. Also in the report: The unemployment rate fell to 3.5%, a level not seen since February 2020, while average hourly earnings were up 0.5% month-over-month and 5.2% year-over-year. "Job gains were broad-based and especially prominent in sectors such as education, healthcare and government," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial. "Given the stability in the job market, especially considering rising borrowing costs and higher inflation, we do not expect the National Bureau of Economic Research (NBER) to call a recession at this point.
It was a choppy day of trading on Thursday as investors looked ahead to the market''s next big catalyst: the July jobs report, which will be released tomorrow morning. "The labor market is an extremely critical input in the debate around inflation and how many Fed rate hikes are needed to ''whip it'' that has been driving markets," says Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company. SEE MORE 10 Dividend Growth Stocks Delivering Impressive Increases In tomorrow''s report, "investors will be looking for evidence that the pace of job gains is slowing to a more sustainable pace and/or that more Americans are returning to the labor market," he says. Schutte adds that wage data is another important metric to watch, particularly to see if average hourly earnings start to moderate – something that is needed in order for inflation to push lower. Today''s weekly jobless claims data gave us a glimpse into the state of the labor market, with initial unemployment claims climbing by 6,000 to 260,000 in the final week of July. "With the jobs report coming tomorrow, today''s slight uptick in jobless claims isn''t likely to be a major market nor Fed mover," says Mike Loewengart, managing director of investment strategy at E*Trade. "Remember that while jobless claims have been slowly rising, the labor market remains robust." Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
LPL Financial Holdings, Inc. (NASDAQ:NASDAQ:LPLA) Q2 2022 Earnings Conference Call August 2, 2022 17:00 ET Company Participants Dan Arnold - President & Chief Executive Officer Matt…
LPL Financial Holdings press release (LPLA): Q2 Non-GAAP EPS of $2.24 (vs
LPL Financial Holdings (NASDAQ:LPLA) declares $0.25/share quarterly dividend, in line with previous.Forward yield 0.47%Payable Aug. 31; for shareholders of record Aug. 17; ex-div Aug.
Key Financial Results
Stocks started August on shaky footing, with markets struggling to find direction following their best month since 2020. Much of last week''s gains came on the heels of well-received tech earnings . And while the earnings calendar heats up later this week, the main focus on Monday was economic data. Namely, the Institute for Supply Management''s purchasing manager''s index (PMI) – a measure of factory activity in the U.S. – fell to 52.8 in July from 53.0 in June. SEE MORE 10 Bond Funds to Buy Now "Manufacturing was still expanding in July, but at the slowest rate in over two years," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial. "As demand slows and supply bottlenecks improve, we should expect a corresponding slowdown in inflation during the back half of this year." Separately, the Commerce Department released data this morning that showed construction spending fell 1.1% month-over-month in June – due in part to a 3.1% drop in single-family homes (the largest one-month drop in this metric since the start of the pandemic).
Bonds have been behaving badly. But the fixed-income market''s comeuppance is a good thing for investors looking for better value and more income from their bond funds. Historically, bonds have offered shelter for portfolios when financial storms touch down on Wall Street. But bonds have not been a haven this year in the grip of surging inflation and fast-rising interest rates. Instead, fixed-income assets ranging from U.S. Treasuries to higher-yielding "junk bonds" have logged double-digit-percentage losses resembling declines suffered by more-volatile stocks. SEE MORE The 7 Best Bond Funds for Retirement Savers in 2022 "A 10% drawdown in the stock market is common, but it is unprecedented for the bond market," says Lawrence Gillum, a fixed-income strategist at LPL Financial. The bond market pain meter highlights this year''s outsize declines and pokes a hole in the myth that bonds never lose money. The Bloomberg U.S. Aggregate Bond index, which tracks the investment-grade bond market and serves as the benchmark for most bond funds, has fallen 10.6% so far this year through July 8 – putting it on track for its worst annual return ever. (Its worst year up to now was 1994, when it fell 2.92%.) U.S.
Stocks kept on rising Friday, as Amazon.com ( AMZN ) and Apple ( AAPL ) closed out a busy week of Big Tech earnings in fine fashion. SEE MORE How Senate Breakthrough on Climate Could Benefit ESG Investors Amazon stock soared 10.4% after the e-commerce company reported a second-quarter top-line beat due in part to 33% year-over-year revenue growth in its cloud segment (Amazon Web Services) and an 18% jump in ad sales. AMZN also gave an upbeat current-quarter revenue outlook thanks to what it called a "record-breaking Prime Day." Meanwhile, Apple shares gained 3.3% after the iPhone maker reported higher-than-expected earnings and revenue in its fiscal third quarter. However, the company''s revenue growth rate slowed significantly when compared to the year-ago period. Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. On the economic front, the personal consumption expenditures (PCE) index rose 6.8% on an annualized basis in June – its biggest year-over-year rise since January 1982.
The LPL FINANCIAL LLC POLITICAL ACTION COMMITTEE (LPL PAC) successfully filed their F3XN JULY MONTHLY with the coverage period of 06/01/2022 to 06/30/2022 and a confirmation ID of FEC-1618172 *********CommitteeId: C00486217 | FilingId: 1618172 | FormType: F3XN | CoverageFrom: 06/01/2022 | CoverageThrough: 06/30/2022 | ReportType: JULY MONTHLY*********
The major indexes opened Monday solidly higher amid a round of well-received bank earnings, but chipped away at these gains to eventually end lower. Garnering the most attention from this morning''s earnings calendar was Goldman Sachs ( GS , +2.5%), which reported double-digit percentage declines in its top and bottom lines, though both figures beat analysts'' consensus estimates. The blue-chip financial firm also said Q2 trading revenue soared 32% year-over-year to $6.5 billion – offsetting a 41% decline in investment banking revenue. SEE MORE 12 Dividend Aristocrats You Can Buy at a Discount Also in focus today was the National Association of Home Builders (NAHB)/Wells Fargo housing market index – a measure of builder confidence – which fell to 55 in July from 67 in June, its seventh-straight decline and biggest month-over-month drop since April 2020. "Most concerning, traffic of prospective buyers fell to the lowest since May 2020, suggesting that the housing market has more downside to go as interest rates trek higher and inflation chisels away consumer purchasing power," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial.
Stocks made a valiant rebound attempt on Friday, spurred by a sign that consumers haven''t thrown in the towel. The Commerce Department this morning said retail sales rose 1% month-over-month in June. While most of the increase was a result of higher gas and food prices, Wall Street was still pleased that the figure marked an improvement over May''s modest decline and came in above economists'' consensus estimate for an increase of 0.9%. SEE MORE The 12 Best Consumer Discretionary Stocks to Buy for the Rest of 2022 "Spending was broad based and not just boosted by more money spent on gasoline," says Jeffrey Roach, chief economist for independent broker-dealer LPL Financial. "Given this report, the U.S. might actually post positive growth figures for Q2 and avoid two consecutive quarters of negative growth," Roach adds. "The Fed could try to use this data to support a larger-than-expected hike later this month. Right now, the Fed is focused on the data and if the consumer is stable enough, the Fed could indeed implement a large hike without breaking the economy." Sign up for Kiplinger''s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
LPL Financial (LPLA) entered into a definitive purchase agreement to acquire private client business of investment advisor Boenning & Scattergood.
Boenning & Scattergood is a broker/dealer and RIA employing approximately 40 advisors serving approximately $5 billion of client assets Boenning & Scattergood is a broker/dealer and RIA employing approximately 40 advisors serving approximately $5 billion of client assets
As we see the commoditization of custody, what other services are custodians providing to the RIAs? Steve Earner, head of LPL Financial’s RIA platform, addresses the topic.
SAN DIEGO, July 05, 2022 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. ( Nasdaq: LPLA ) (the “Company”), the parent corporation of LPL Financial LLC, announced today it will report second quarter financial results after the market closes on August 2. The Company will host a conference call to discuss its results at 5 p.m. ET the same day.
U.S. equities managed to escape negative territory Friday and finish in the black despite some downbeat economic data – a welcome beginning to 2022''s second half after a dreadful performance through the midway point . Front and center Friday was the Institute for Supply Management (ISM) manufacturing index, which delivered its weakest reading in two years. The index''s June reading of 53.0, which was down considerably from May''s 56.1, fell well below economists'' forecasts for 54.5 and marked its lowest point since June 2020. SEE MORE The 15 Best Stocks to Buy for the Rest of 2022 "The new orders component was particularly rough," say Wells Fargo economists Tim Quinlan and Shannon Seery. "It slipped 5.9 points to 49.2, which marks the first contraction reading since May 2020, when the economy was coming out of pandemic-related lockdowns." The pair add that while the report demonstrates slower manufacturing activity, supply problems are continuing to ease. "In short, the report piles onto weaker consumer data received this week and signals investment spending is starting to weaken too." From a sector standpoint, utilities (+2.5%) and real estate (+1.8%) were among Friday''s biggest winners as investors appeared to chase yield.
In mid-June, the U.S. stock market fell into market correction territory with the S&P 500 trading down 20% from its all-time highs. The stock market index just turned in its worst first half since 1970 with several macro trends playing out. Here’s a look at what happened and what could be next. What Happened: The S&P 500 closed the month of June at $3,785.38. The index had its worst first half of a year since 1970 and posted the worst quarter since the first quarter of 2020, a period that included the official declaration of COVID-19 as a pandemic. Among the underlying issues hurting the stock market in the first half of 2022 were the Russia-Ukraine conflict, COVID-19 lockdowns in areas such as China and rising inflation. The Labor Department reported an 8.6% increase in the Consumer Price Index in mid-June, the highest inflation rating since 1981. LPL Financial reported that the first 100 trading days of 2022 were the fourth-worst start for the S&P 500, trailing only 1932 (Great Depression), 1940 (World War II) and 1970 (Vietnam War and recession).
Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here.
NEW YORK : Wall Street stocks bounced back yesterday starting a holiday-shortened week on a positive note as investors debated whether the rally could signify a market comeback. After bruising losses last week, the Dow Jones Industrial Average finished up 2.2% at 30,530.25. The broad-based S&P 500 jumped 2.5% to close at 3,764.79, while the tech-rich Nasdaq Composite Index also won 2.5% to 11,069.30. Analysts described the market as primed for a rally after heavy losses for most of 2022 that have left stocks “oversold” on a short-term basis. A series of aggressive interest rate increases by the Federal Reserve and other central banks have exacerbated worries about a recession. Goldman Sachs analysts now see a 48% probability of a recession in the next two years compared with 35% previously, according to a note released late yesterday. “The question becomes: Is this another bear market rally, which means it’ll last for a little bit of time and then roll over and hit new lows, or is it the bottom, meaning a more sustained rally is going to follow,” said Adam Sarhan of 50 Park Investments.
LPL Financial (LPLA) introduced Wednesday a new program, called LPL Private Client Services Network, that offers LPL-affiliated advisers access to vetted companies that can help…
The New Program Creates a Full-Service Offering for Advisors to Serve the Affluent Market The New Program Creates a Full-Service Offering for Advisors to Serve the Affluent Market
LPL Financial (LPLA) total advisory and brokerage assets grew to $1.12T at the end of May, up 2.2% from April and +4.3% from May 2021, according to its monthly activity report. Net…
Baron Funds, an asset management firm, published its "Baron Fintech Fund" first-quarter 2022 investor letter – a copy of which can be downloaded here.
Despite the doom and gloom in the market, investors still continue to flock toward the hottest ETFs to buy. exchange-traded funds comprised a third of total U.S. exchange volume during the Q1, a record percentage. Meanwhile, equity ETFs saw $154 billion in net flows during the first quarter, down from a record $209 billion in the previous year. U.S. stock ETFs accounted for over $110 billion of these net flows. 7 High-Yielding Monthly Dividend Stocks to Buy in June Moreover, the last week of May saw the first weekly inflow of global equity funds in seven weeks. Investors purchased a net $6.16 billion worth of global equity funds, marking their first weekly net buying since April 6. With that information, here are seven hot ETFs to buy that have significant potential to gain traction during the second half of the year. FXO Financials Alphadex Fund $42.97 AMZA InfraCap MLP ETF $33.52 SPGP Invesco S&P 500 GARP ETF $85.48 SOXX iShares Semiconductor ETF $416.06 GII SPDR S&P Global Infrastructure ETF $57.70 MOAT VanEck Morningstar Wide Moat ETF $68.94 VCR Vanguard Consumer Discretionary Index Fund ETF $255.53 First Trust Financials Alphadex Fund (FXO) Source: PopTika / Shutterstock 52-week range: $39.81- $48.99 Dividend yield: 2.05% Expense ratio: 0.61% per year The Financials Alphadex Fund (NYSEARCA: FXO ) aims to outperform the U.S. financials market by applying a quant-based model to the Russell 1000 financials universe.
SAN DIEGO, June 07, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced that Chief Financial Officer Matt Audette will present at the Morgan Stanley US Financials, Payments & CRE Conference on June 14.
LPL Financial Holdings (NASDAQ:LPLA) had declared $0.25/share quarterly dividend, in line with previous.Payable June 24; for shareholders of record June 9; ex-div June 8.See LPLA Dividend…
Stocks endured another roller-coaster session on Thursday as investors weighed a weak forecast from one tech giant, the latest comments on the Federal Reserve''s rate-hike timeline and mixed jobs data. Microsoft ( MSFT , +0.8%) was the main catalyst for the broader market''s slow start this morning. The Redmond, Washington-based software developer lowered its current-quarter sales and earnings guidance citing the impact from a stronger U.S. dollar, which is currently trading near a 20-year high relative to its global counterparts. SEE MORE The 30 Best Stocks of the Past 30 Years MSFT now expects fiscal fourth-quarter revenue to arrive between $51.94 billion and $52.74 billion, down from its prior outlook for sales of $52.40 billion to $53.20 billion; and earnings per share of $2.24 to $2.32, compared to previous guidance for earnings of $2.28 per share to $2.35 per share. Also on Thursday, Federal Reserve Vice Chair Lael Brainard said in an interview on CNBC that it is too early to tell if inflation has peaked and that it is "reasonable" for the central bank to issue 50 basis-point (a basis point is one-one hundredth of a percentage point) rate hikes at each of its next two meetings (in June and July).
LPL Financial''s (LPLA) advisory and brokerage assets of $1.10T slid from $1.20T in March, though elevated from $1.06T in the year-ago period, according to the company''s monthly…
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Upgrades According to Wolfe Research, the prior rating for Cullen/Frost Bankers Inc (NYSE: CFR ) was changed from Underperform to Outperform. For the fourth quarter, Cullen/Frost Bankers had an EPS of $1.54, compared to year-ago quarter EPS of $1.38. At the moment, the stock has a 52-week-high of $147.39 and a 52-week-low of $100.35. Cullen/Frost Bankers closed at $138.63 at the end of the last trading period. According to Guggenheim, the prior rating for Array Technologies Inc (NASDAQ: ARRY ) was changed from Neutral to Buy. In the fourth quarter, Array Technologies showed an EPS of $0.06, compared to $0.08 from the year-ago quarter. The current stock performance of Array Technologies shows a 52-week-high of $31.00 and a 52-week-low of $8.02. Moreover, at the end of the last trading period, the closing price was at $11.03. According to Citigroup, the prior rating for Mission Produce Inc (NASDAQ: AVO ) was changed from Neutral to Buy. In the first quarter, Mission Produce showed an EPS of $0.17, compared to $0.11 from the year-ago quarter.
CHARLOTTE, N.C., July 22, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) announced today that financial advisors Joe Roddy CFP ® , Steve Mayer CFP ® , and Laurie Elfrank of West End Advisory Group have joined LPL Financials broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The team reported having served approximately $170 million in advisory, brokerage and retirement plan assets*. They join LPL from Cetera Financial Group.
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Image source: Pasja1000 / Pixabay By Lewis Krauskopf Investors are looking to a mounting pile of cash at U.S. companies to provide support for the stock market in coming months, as executives announce plans to increase share buybacks, boost dividends or pour money back into their businesses. Cash on the balance sheets of S&P 500 companies has swelled to a record $1.9 trillion, compared to $1.5 trillion before the pandemic crisis in early 2020, according to Keith Lerner, chief market strategist at Truist Advisory Services. The cash hoard likely will be a key factor in investors calculus as second-quarter earnings season hits full swing while market participants gauge how equities respond to worries over slowing growth and a COVID-19 resurgence that sparked a rush to safe-haven Treasuries in recent days. High corporate cash balances are a nice, subtle form of market support," said Michael Purves, chief executive officer at Tallbacken Capital Advisors. With all the talk about markets getting ahead of themselves and aggressive valuations, this provides market support into 2022 and 2023. Large amounts of cash give companies flexibility to take potentially share-supportive measures, including facilitating buybacks, which boost earnings per share.
LPL Financial Approves Bitwise 10 Crypto Index Fund on Its Platform Cadillac News