{"id":816219,"date":"2026-10-28T06:02:11","date_gmt":"2026-10-28T06:02:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/816219\/"},"modified":"2026-10-28T06:02:11","modified_gmt":"2026-10-28T06:02:11","slug":"lpls-trims-commonwealth-retention-forecast-to-83","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/816219\/","title":{"rendered":"LPL\u2019s Trims Commonwealth Retention Forecast to 83%"},"content":{"rendered":"<p class=\"wp-block-paragraph\">LPL Financial expects to retain 83% of Commonwealth Financial Network\u2019s client assets, down from its <a href=\"https:\/\/www.advisorhub.com\/lpl-maintains-commonwealth-retention-target-eyes-recruiting-rebound\/\" rel=\"nofollow noopener\" target=\"_blank\">prior<\/a> goal of 90%, executives said on Tuesday.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">They unveiled the revision following LPL\u2019s third quarter earnings report and as it prepares for the final shift in mid-November of Commonwealth advisors to the LPL brokerage and advisory platform.\u00a0\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cWith only two weeks until conversion, we have increased clarity on final asset retention, which we now expect to be approximately 83%,\u201d LPL Chief Executive Rich Steinmeier told stock analysts on a conference call.<\/p>\n<p class=\"wp-block-paragraph\">Some advisors who had committed to stay have since changed their mind, Chief Financial Officer Matt Audette added.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">\u201cIf you look at where we were last quarter, we were right around 85% for folks that had signed,\u201d Audette said. \u201cWe just had a small number of advisors that had signed who decided not to stay,\u201d he said. \u201cIt\u2019s as simple as that.\u201d<\/p>\n<p class=\"wp-block-paragraph\">LPL announced its $2.7 billion purchase of Commonwealth in March 2025 when the smaller rival had around 3,000 brokers and $300 billion in assets. Steinmeier said during a July earnings call that the integration was progressing well and that it remained on track for 90% retention.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">At the same time, LPL has shifted its focus from retention back to external recruiting. The company recruited $24 billion in client assets and attracted net new assets of $29 billion, representing a 5% annualized growth rate, according to its earnings report.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">LPL\u2019s client assets rose about 10.8% year-over-year to $2.6 trillion. Advisory assets grew at a rate of 15.9% to $1.6 trillion. Brokerage assets rose 3.7% to more than $1 trillion, the company reported.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">LPL\u2019s net income, adjusted for the Commonwealth purchase, rose 12.7% to $471 million on total revenues that climbed 17.4% to $5.3 billion.<\/p>\n<p>                  Like this article? Let AdvisorHub come to you!\u00a0\u00a0<a class=\"button\" href=\"https:\/\/advisorhub.com\/newsletter-sign-up\/\" rel=\"nofollow noopener\" target=\"_blank\">Sign up<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"LPL Financial expects to retain 83% of Commonwealth Financial Network\u2019s client assets, down from its prior goal of&hellip;\n","protected":false},"author":2,"featured_media":816220,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,248231,4176,82275,4174,4175,11550,56,54,55],"class_list":["post-816219","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-commonwealth-financial-network","tag-finance","tag-lpl-financial","tag-personal-finance","tag-personalfinance","tag-recruiting","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/816219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=816219"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/816219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/816220"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=816219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=816219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=816219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}