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LPL Financial reports advisory, brokerage assets at the end of May of $1.85T

LPL Financial (LPLA) released its monthly activity report for May. Total advisory and brokerage assets at the end of May were $1.85T, an increase of $66.6B, or 3.7%, compared to the end of April. Total organic net new assets for May were $6.5B, translating to a 4.4% annualized growth rate. This included $1B of assets that off-boarded as part of the previously disclosed planned separation from misaligned large OSJs. Prior to these impacts, organic net new assets were $7.5B, translating to a 5% annualized growth rate. Total client cash balances at the end of May were $49.2B, a decrease of $2.6B compared to the end of April. Net buying in May was $13.5B.

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