LPL Financial: Total advisory/brokerage assets down 1.9% to $1.41T at April-end

LPL Financial released its monthly activity report for April 2024. Total advisory and brokerage assets at the end of April were $1.41T a decrease of $27.9B, or 1.9%, compared to the end of March 2024. Total net new assets for April were $12B which included $5B of acquired net new assets resulting from the acquisition of Crown Capital. Total organic net new assets for April were $7B, translating to a 5.8% annualized growth rate. Total organic net new advisory assets were $7.4 B translating to an 11.2% annualized growth rate. Total client cash balances at the end of April were $45.7B, a decrease of $0.6 B compared to the end of March 2024. Net buying in April was