Lpl financial announces second quarter 2025 results

Key financial results: net income was $273 million , translating to diluted earnings per share ("eps") of $3.40 , up 5% from a year ago adjusted eps* increased 16% year-over-year to $ 4.51 gross profit* increased 21% year-over-year to $1,304 million core g&a* increased 15% year-over-year to $426 million adjusted pre-tax income* increased 23% year-over-year to $490 million key business results: total advisory and brokerage assets increased 28% year-over-year to $1.9 trillion advisory assets increased 28% year-over-year to $1.1 trillion advisory assets as a percentage of total assets decreased to 55.3%, down from 55.4% a year ago total organic net new assets were $21 billion , representing 5% annualized growth this included $0.1 billion of assets from wintrust investments, llc and certain private client business at great lakes advisors, llc (collectively, "wintrust"), and $4 billion 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 $24 billion, translating to a 5% annualized growth rate recruited assets ( 1 ) were $18 billion , down 24% from a year ago recruited assets over the trailing twelve months were $161 billion total client cash balances were $51 billion , a decrease of $2 billion sequentially and an increase of $7 billion year-over-year client cash balances as a percentage of total assets were 2.6%, down from 3.0% in the prior quarter and down from 2.9% in the prior year key capital and liquidity measures: corporate cash ( 2 ) was $3.6 billion leverage ratio ( 3 ) was 1.23x dividends paid were $24.0 million *see the non-gaap financial measures section and the endnotes to this release for further details about these non-gaap financial measures key updates large institutions: first horizon bank ("first horizon"): expect to onboard in the third quarter of 2025.
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