According to AltsWire, LPL Financial Holdings Inc. reported record-breaking financial results for 2024, fueled by substantial asset growth, a major acquisition, and an influx of new financial advisers. The firm's total advisory and brokerage assets surged to $1.74 trillion, marking a 29 percent increase from the previous year.

LPL expanded its adviser network significantly in 2024, adding more than 6,200 advisers and bringing its total to 28,888. This growth was bolstered by the firm's acquisition of Atria Wealth Solutions, which contributed approximately 2,200 advisers and 160 institutions. The acquisition was finalized in the fourth quarter of the year.

AltsWire also reports that LPL's total revenue climbed to $12.4 billion in 2024, a 23 percent increase from $10.1 billion the prior year. Net income remained steady at $1.06 billion, while adjusted earnings per share rose to $16.51, up from $15.72 in 2023.

The firm recruited $149 billion in new assets during the year, reflecting a 90 percent increase year over year. Of that total, $71 billion came from the independent advisor channel, while $63 billion was sourced from institutional relationships, including the onboarding of Prudential Financial Inc.'s retail wealth division.

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