LPL Financial Holdings Inc

Financial Highlights

Results for the third quarter of 2024 included net income of $255.3 million, or $3.39 perdiluted share, which compares to$224.3 million, or$2.91 per diluted share, for the third quarter of 2023.

Asset Trends

Total advisory and brokerage assets served were $1.6 trillion at September 30, 2024, compared to $1.2 trillion at September 30, 2023. Total net new assets were $27.5 billion for thethree months ended September 30, 2024, compared to$33.2 billion for the same period in 2023.

Net new advisory assets were $23.7 billion for the three months ended September 30, 2024, compared to $22.7 billion for the same period in 2023. Advisory assets were $892.0 billion, or 56% of total advisory and brokerage assets served, at September 30, 2024, up 35% from $662.7 billion at September 30, 2023.

Net new brokerage assets were $3.8 billion for the three months ended September 30, 2024, compared to $10.5 billion for the same period in 2023. Brokerage assets were $700.1 billion at September 30, 2024, up 22% from $575.7 billion at September 30, 2023.

Gross Profit Trend

Gross profit, a non-GAAP financial measure, was $1.1 billion for the three months ended September 30, 2024, an increase of 12% from $1.0 billion for the three months ended September 30, 2023. See the“Key Performance Metrics” section for additional information on gross profit.

Common Stock Dividends

During the three months ended September 30, 2024, we paid stockholders cash dividends of $22.4 million.