LPL Financial reports monthly activity for November

LPL Financial released its monthly activity report for November. Total advisory and brokerage assets at the end of November were $1.14T, an increase of $49.3B, or 4.5%, compared to the end of October 2022. Total net new assets for November were $5.6B, translating to a 6.2% annualized growth rate. This included $0.2B of brokerage assets from People’s United that onboarded in November. Total net new advisory assets were $3.6B, translating to a 7.6% annualized growth rate. Total client cash balances at the end of November were $62.5B, a decrease of $2.7B compared to the end of October 2022. Net buying in November was $9.4B.