LPL Financial Holdings Inc. (LPLA) Stock Rating & Analysis

LPL Financial is the largest US independent broker-dealer, with more than 32,000 affiliated financial advisors and roughly 11 million customer accounts at the end of 2025. It earns most of its profit from interest income on client cash balances and from advisory fees and commissions tied to the $2.4 trillion in assets under management or advisory on its platform at year-end 2025.