The following is a summary of the LPL Financial Holdings Inc. (LPLA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• LPL Financial reported Q1 total assets of $1.4 trillion, an increase due to solid organic growth and higher equity markets.

• First quarter organic net new assets were $17 billion, representing 5% annualized growth.

• The recruited assets were reported at a quarterly record of $20 billion, excluding periods of onboarding large institutions.

• The Adjusted EPS for the first quarter was $4.21.

Business Progress:

• LPL Financial is implementing strategies of horizontal expansion and vertical integration to build market leadership.

• The company signed an external deal for their Liquidity and Succession solution, and has plans to acquire Atria Wealth Solutions in the second half of the year.

• LPL Financial is prepared to onboard the retail wealth management business of Prudential Financial and Wintrust Financial, adding approximately $66 billion of brokerage and advisory assets by early 2025.

• They have closed their first deal in Q1 for advisors not on the LPL platform and have a robust pipeline building up.

• LPL also plans on launching two applications for integrating their platform's product manufacturers and the LPL suite into a single experience.

More details: LPL Financial IR

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