LPL Financial Holdings Inc. (LPLA)

Over the past six months, LPL Financial's stock has been influenced by several key events. The company reported a net loss of $30 million, or $0.37 loss per share for the prior quarter in Q3 2025. Dan Arnold, the former President and CEO, departed abruptly due to code of conduct violations and Rich Steinmeier assumed the role of interim CEO. LPL Financial announced strong fourth-quarter and full-year 2025 results, reporting net income of $301 million, or $3.74 per share, for Q4 2025. The market has been focused on the ongoing integration of Commonwealth Financial Network, LPL's largest acquisition to date. LPL Financial continued to onboard assets from First Horizon Bank. The firm announced a quarterly dividend of $0.30 per share, payable on March 24, 2026, to stockholders of record on March 10, 2026. As of February 6, 2026, LPLA traded at $385.14.

LPL Financial's business experiences some demand seasonality, with commission and advisory fees payout rates being impacted. The summer months often see a slowdown in work volume, while activity tends to increase towards the end of the year due to year-end financial planning and tax considerations. The first quarter often involves tax-related financial planning, and the financial markets themselves exhibit seasonal patterns that can indirectly influence client activity and asset flows for LPL Financial.

LPL Financial Holdings Inc. is a prominent U.S. financial services company, operating in the wealth management and financial advisory industry as the largest independent broker-dealer in the United States. It provides brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions. The company offers integrated technology solutions, brokerage and advisory platforms, clearing, compliance, business, and planning services, consultative practice management programs and training, in-house research, wealth management tools and fintech tools, advisor affiliation models, recordkeeping fees and software tools, and estate planning tools. As of late 2025, LPL Financial supported over 32,000 financial advisors and approximately 11 million customer accounts, with advisory and brokerage assets totaling around $2.4 trillion. The company generated approximately $10.3 billion in annual revenue for the 2023 fiscal year.

LPL Financial Holdings Inc. has a significant presence across the United States and is licensed to operate in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. Its main offices are strategically located in San Diego, California (headquarters); Fort Mill, South Carolina; Boston, Massachusetts; and Austin, Texas.

LPL Financial generally maintains a strong brand reputation within the financial services industry, particularly as the largest independent broker-dealer. The company has demonstrated impressive organic asset growth and achieved its highest employee engagement scores in nearly a decade. LPL celebrates having the most CFP® professionals in the industry and is recognized for its focus on supporting independent advisors with comprehensive services and technology. However, the abrupt departure of President and CEO Dan Arnold due to code of conduct violations and an $18 million fine for anti-money laundering failures have impacted its reputation.

LPL Financial Holdings Inc. has a diverse ownership structure, with institutional investors holding a significant portion. Approximately 99.3% of the stock is owned by institutions, while individual insiders hold about 0.621%. Public companies and individual investors collectively own around 47.84% of the stock. Major institutional owners include The Vanguard Group, Inc., BlackRock, Inc., Massachusetts Financial Services Co /ma/, Boston Partners, Dodge & Cox, Janus Henderson Group Plc, Capital World Investors, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Kayne Anderson Rudnick Investment Management Llc, and Lone Pine Capital Llc.