LPL Financial reports November total advisory, brokerage assets of $2.36T

LPL Financial (LPLA) released its monthly activity report for November. Total advisory and brokerage assets at the end of November were $2.36T, an increase of $12.5B, or 0.5%, compared to the end of October. Total organic net new assets for November were $6.7B, translating to a 3.4% annualized growth rate. This included $0.1B of assets from First Horizon Bank that onboarded in November, and $0.3B 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 $6.8B, translating to a 3.5% annualized growth rate.