LPL Financial reports total net new assets of $8.4B for November

LPL Financial released its monthly activity report for November 2023. Total advisory and brokerage assets at the end of November were $1.30 trillion, an increase of $81.0 billion, or 6.6%, compared to the end of October 2023. Total net new assets for November were $8.4 billion, translating to an 8.2% annualized growth rate. Total net new advisory assets were $6.7 billion, translating to a 12.3% annualized growth rate. Total client cash balances at the end of November were $47.3 billion, an increase of $0.4 billion compared to the end of October 2023. Net buying in November was $11.3 billion.