LPL Financial released its monthly activity report for August 2023. Total advisory and brokerage assets at the end of August were $1.27T a decrease of $7.1B, or 0.6%, compared to the end of July 2023.Total net new assets for August were $13.1B, translating to a 12.3% annualized growth rate. Total net new advisory assets were $8.3B, translating to a 14.6% annualized growth rate. Total client cash balances at the end of August were $48.2B, a decrease of $0.6B compared to the end of July 2023. Net buying in August was $12.7B.
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