LPL Financial Holdings Inc. Earnings Recaps
Q1 2026
May 1, 2026
Shares of LPL Financial fell 3.7% following Q1 earnings as total assets declined to $2.3 trillion due to soft equity markets, and the 4% annualized organic net new asset growth represented a deceleration from recent quarters. While record EPS and margin discipline were highlighted, slower asset growth and asset retention from the Commonwealth integration likely disappointed investors.
Key takeaways
- Total client assets fell to $2.3 trillion, as organic net inflows were more than offset by lower equity markets.
- Organic net new assets reached $21 billion for the quarter, translating to a 4% annualized growth rate.
- Asset retention for Commonwealth during integration is in the "mid-80s" percent, below the company’s 90% target.
- Adjusted pre-tax margin was approximately 38%, and adjusted EPS set a new high at $5.60, up 9% year-over-year.
- Recruiting pipeline volume reached record levels, but recruited assets were $17 billion in Q1, consistent with seasonally slow trends.
Q3 2025
Oct 31, 2025
LPL Financial delivered strong third quarter results, achieving record adjusted EPS of $5.20, driven by robust organic growth and the successful acquisition of Commonwealth Financial Network.
Key takeaways
- Total assets reached a record $2.3 trillion, bolstered by $33 billion in organic net new assets, reflecting a 7% annualized growth rate.
- Recruited assets totaled $33 billion for the quarter, pushing the trailing 12-month total to an unprecedented $168 billion.
- Adviser retention remains high at 98%, even amid challenges, indicating strong client satisfaction and efficient service delivery.
- The acquisition of Commonwealth is progressing well, with nearly 80% of assets retained and ongoing enhancements to LPL’s technology platform.
- Focus on improving operational leverage and employee empowerment, with new initiatives in management training and benefits enhancement underway.