← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
LPL bought Commonwealth for about $2.7 billion and took assets served to $2.4 trillion, lifting revenue 37.2% to $16.99B, but deal costs cut net income 18.5% and free cash flow fell to -$981.8M
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 37.2% to $16.99B; net new assets $431.5 billionOK
- Profitability — Net income down 18.5% to $863.0M; net margin down 347 bps to 5.08%Watch
- Balance sheet — Debt up 32.1% to $7.26B; equity up 82.4% after a $1.7 billion share saleNote
- Capital allocation — Buybacks cut 41.2% to $100.0M; dividends up 5.2% to $94.4MNote
- Assets served — $2.4 trillion of advisory and brokerage assets, from $1.7 trillionOK
Business
LPL is the largest independent broker-dealer in the U.S., a leading investment advisory firm and a top custodian. It supports more than 32,000 financial advisors and the wealth management practices of about 1,200 financial institutions, giving them technology, clearing, compliance and product access while custodying about $2.4 trillion of client assets. It earns advisory fees and commissions, most of which it pays out to advisors, plus asset-based fees, including from client cash swept to banks, and charges advisors for its platforms.
Leadership changes
From LPL Financial Holdings Inc.'s own filings, the day they're filed.
- Somesh Khanna · director · appointmenteff. 2026-01-05
- Althea Brown · Chief Legal Officer · departureeff. 2025-06-30
- Althea Brown · Chief Legal Officer · departureeff. 2025-05-03
Latest filings
- 10-Q · Quarterly report2026-08-03
- 8-K · Company announcement2026-07-30
- 8-K · Company announcement2026-05-15
- 10-Q · Quarterly report2026-05-04
- 8-K · Company announcement2026-04-30
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
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- Full financial statements, industry-aware, sources cited throughout🔒
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- Ana — ask about LPL Financial Holdings Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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