LPL Financial Q1 EPS Rises 9% to $5.60 as Assets Surge 30%
LPL Financial reported Q1 net income of $356 million, or $4.43 per share, a 4% increase, and adjusted EPS rose 9% to $5.60. Total client assets grew 30% to $2.3 trillion and advisory assets jumped 42% to $1.4 trillion.
1. Financial Results
In Q1 the company earned $356 million net income, or $4.43 per share, a 4% rise, with adjusted EPS up 9% to $5.60. Gross profit climbed 25% to $1.59 billion and adjusted pre-tax income increased 20% to $613 million.
2. Asset and Client Growth
Total client assets rose 30% to $2.3 trillion, with advisory assets up 42% to $1.4 trillion, representing 59.5% of total. The firm generated $21 billion in organic net new assets (4% annualized) and held $59 billion in client cash balances.
3. M&A Activity
The conversion of Commonwealth Financial Network remains on track for Q4 2026 with an expected 90% asset retention and a revised EBITDA run-rate of $410 million. The company agreed to acquire Mariner Advisor Network, adding 367 advisors managing $31 billion in client assets.
4. Capital Management
Corporate cash totaled $567 million and leverage was 1.86x. The board declared a $0.30 dividend and resumed share repurchases with $125 million planned for Q2. Core G&A guidance was trimmed by $20 million to a range of $2.155–2.190 billion for 2026.