LPL Financial (LPLA) Announces Mixed Data for Jul 2016

LPL Financial Holdings Inc. LPLA released its monthly activity report for Jul 2016. The company recorded total brokerage and advisory assets of $500.4 billion at the end of July, up 2.5% from the prior month. Of these, brokerage assets stood at $298.4 billion, while advisory assets were $202.0 billion as of Jul 31, 2016.

However, LPL Financial reported $28.9 billion of total client cash sweep balances for Jul 2016, down 1% from Jun 2016. Of the total cash balance, $20.9 billion was insured cash, $4.2 billion was deposit cash while the remaining $3.8 billion was money market cash balance.

With the gradual stabilization of global equity markets, trading activities are anticipated to improve. Though this will likely benefit LPL Financial, fluctuating interest rates are expected to impact the company's financials in the near term.

LPL Financial currently carries a Zacks Rank #3 (Hold).

Performance of Other Investment Brokers

Among other investment brokers, TD Ameritrade Holding Corporation AMTD reported $760.2 billion in total client assets, up 3% from the prior month and 8% year over year. Also, AMTD came up with average client trades per day of 454,000 in its activity report for Jul 2016. The reported figure declined 3% from the prior month, while it was almost in line with the prior-year period.

E*TRADE Financial Corporation ETFC reported a fall in its Daily Average Revenue Trades (DARTs) in the monthly market activity report for Jul 2016. DARTs were 147,100, down 1% sequentially and 2% on a year-over-year basis.

Interactive Brokers Group, Inc.'s IBKR total client DARTs were 602,000 in Jul 2016, down 8% from Jul 2015 and 6% from Jun 2016. Further, total customer accounts were 360,100, up 15% from the prior-year month and 1% from the preceding month.

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