LPL Financial Holdings Inc. reported total client assets of $2.55 trillion for May 2026, an increase of $76.9 billion, or 3.1%, compared to the end of April. The rise in assets was driven by market appreciation and net new assets, with advisory assets now comprising 60.2% of the total, up from 55.1% a year ago. Total organic net new assets (NNA) for May stood at $8.8 billion, translating to a 4.3% annualized growth rate.

Total client cash balances at the end of May were $54.8 billion, a decrease of $0.6 billion from April. Net buying activity in May was $13.7 billion. The firm recorded net brokerage to advisory conversions of $2.1 billion during the month.

Asset Performance

Advisory assets reached $1,537.3 billion in May, up from $1,482.7 billion in April, marking a 3.7% monthly increase. Brokerage assets stood at $1,017.3 billion, a 2.2% rise from April. On a year-over-year basis, total client assets grew by 37.8%, driven by a 50.5% increase in advisory assets and a 22.1% rise in brokerage assets.

Net New Assets and Cash

Total organic NNA was $8.8 billion, compared to $3.1 billion in April. Advisory organic NNA was $11.0 billion, while brokerage organic NNA was negative $2.2 billion. Acquired NNA remained flat at $0.0 billion for the period.

Total client cash balances decreased to $54.8 billion in May from $55.5 billion in April. Insured cash account sweep balances were $37.0 billion, while deposit cash account sweep balances were $14.8 billion. Money market sweep balances stood at $1.2 billion.

Advisors Bassem Moez and James Darden of Fortress Financial Planning have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platform, bringing approximately $150 million in advisory, brokerage, and retirement plan assets. The team transitioned to LPL from MassMutual, seeking a platform that supports their commitment to independence and customized financial advice. This move expands LPL's footprint in the Detroit metro area, where Fortress Financial Planning serves a diverse client base including pre-retirees, retirees, physicians, and business owners.

The transition was driven by the advisors' desire for greater flexibility and open architecture. Moez, who previously affiliated with LPL for eight years, stated that the firm provides the necessary tools to deliver financial advice in clients' best interests. The advisors emphasized that the new platform allows them to offer a broader range of solutions and tailor their approach to individual client needs, enhancing transparency and long-term relationships.

Key Details of the Transition

The following table outlines the primary details regarding the move of Fortress Financial Planning to LPL Financial:

Strategic Alignment and Future Growth

LPL Financial's Chief Growth Officer, Marc Cohen, expressed enthusiasm for the addition of the Fortress Financial Planning team, noting their alignment with LPL's purpose to empower advisors. The firm supports more than 32,000 financial advisors and services approximately $2.3 trillion in brokerage and advisory assets. By joining LPL, Moez and Darden aim to continue building a practice that prioritizes client education and informed decision-making, acting as the 'CFO' while clients remain the 'CEO' of their financial lives.