LPL Financial has pushed its industry-leading adviser headcount to more than 20,000 and beat first-quarter profit estimates despite falling stock markets, leading to lower client assets.
Quarterly earnings statements published on Thursday show increased profits, revenue and planners for the nation’s largest independent broker and CEO Dan Arnold said in prepared statements that the company plans to strengthen its wealth management platforms in 2022, “including enhancing our advisory solutions, in line with the age-old trend towards advisory, which continues in our business and across the industry” .
“For example, in the first quarter, we expanded the investment options available on our centrally managed platforms by integrating separately managed accounts,” Arnold said. “This makes it easier and more efficient for advisors to leverage separately managed accounts, which can lead to higher usage and further growth of centrally managed platforms. Therefore, this enhancement increases the value of our advisory platforms for current and potential advisors. »
To see key takeaways from LPL tax returns for financial advisors and other wealth management professionals, scroll through our slideshow. To cover the company’s profits in the previous quarter, Click here.