Latest news with #LPLFinancial
Yahoo
a day ago
- Business
- Yahoo
LPL Financial Welcomes Loomis Wealth Management
SAN DIEGO, June 05, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors William 'Bill' Curtis Loomis, III, CFP®, William Curtis 'Curt' Loomis, IV and Justin K. Hitt of Loomis Wealth Management have joined LPL Financial's broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. The team reported serving approximately $180 million in advisory, brokerage and retirement plan assets* and joins LPL from L.M. Kohn & Company. Based in Harrisonburg, Va., Bill and Curt founded Loomis Wealth Management in 2010 with the goal of empowering individuals and families to achieve their financial goals through comprehensive, fiduciary-driven wealth management. The father and son team have a combined six decades of financial industry experience and have earned a reputation in the Shenandoah Valley for their holistic approach to wealth management. Hitt, who spent a decade as an educator for the Rockingham County Public Schools before transitioning to the financial industry, joined the team in 2023. Together they offer a full range of investment management, financial planning and risk management services, allowing them to address all aspects of their clients' financial lives. 'We take the time to get to know our clients, their lifestyle, their family and their financial aspirations. Our personal service does more than just build bonds; it gives us a greater sense of how to work for our clients,' Curt said. 'We appreciate that just as no two snowflakes are alike, no two investment portfolios will be identical. Who our clients are, how they live and their fiscal goals provide insight into how we can help.' Looking for more autonomy, improved technology offerings and the opportunity to provide an elevated client experience, the Loomis Wealth Management team turned to LPL. "LPL is a forward-thinking firm, and one aspect that particularly attracted us is their ongoing investment in resources to help advisors provide a next-level client experience — specifically their integrated and open architecture technology platform which will enable us to access everything with a single sign-on,' said Hitt. 'LPL's commitment to its advisors, paired with our personal and in-depth approach, will allow us to serve our clients and build our business the way we envision.' Scott Posner, LPL Managing Director, Business Development, said, 'We welcome Bill, Curt and Justin to LPL and congratulate them on this milestone in the evolution of their practice. Just as the Loomis Wealth Management team prioritizes their clients, everything we do at LPL revolves around empowering advisors to run thriving practices and provide an elevated client experience. We look forward to a long-lasting relationship with Loomis Wealth Management.' RelatedAdvisors, learn how LPL Financial can help take your business to the next level. About LPL Financial LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit Securities and advisory services offered through LPL Financial LLC ('LPL Financial'), a registered investment advisor and broker-dealer, member FINRA/SIPC. Loomis Wealth Management and LPL Financial are separate entities. Throughout this communication, the terms 'financial advisors' and 'advisors' are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial. We routinely disclose information that may be important to shareholders in the 'Investor Relations' or 'Press Releases' section of our website. *Value approximated based on asset and holding details provided to LPL from end of year, 2024. Media Contact: Tracking #745820
Business Insider
2 days ago
- Business
- Business Insider
LPL Financial (LPLA) Receives a Buy from William Blair
William Blair analyst Jeff Schmitt maintained a Buy rating on LPL Financial (LPLA – Research Report) today. The company's shares closed today at $376.23. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Schmitt is a 4-star analyst with an average return of 11.8% and an 82.05% success rate. Schmitt covers the Financial sector, focusing on stocks such as StoneX Group, Charles Schwab, and Tradeweb Markets. Currently, the analyst consensus on LPL Financial is a Strong Buy with an average price target of $409.11, an 8.74% upside from current levels. In a report released on May 23, KBW also maintained a Buy rating on the stock with a $405.00 price target.
New Straits Times
2 days ago
- Business
- New Straits Times
Wall Street ends narrowly mixed in choppy trade on weak economic data
The services sector contracted in May for the first time in nearly a year, while businesses paid higher input prices, a reminder that the economy was still at risk of slowing growth and rising inflation. Early gains in the S&P 500 evaporated toward the close and trading volume was relatively light. "Tariff impacts are likely elevating prices paid by services sector companies," said Jeffrey Roach, chief economist for LPL Financial. The ADP National Employment Report showed US private employers in May added the fewest number of workers in more than two years. Investors await Friday's nonfarm-payrolls data for more signs on how trade uncertainty is affecting the US labor market. Washington doubled tariffs on imported steel and aluminum to 50 per cent, and Wednesday was also Trump's deadline for trading partners to make their best offers to avoid other punishing import levies from taking effect in early July. Investors focused on tariff negotiations between Washington and trading partners, with Trump and Chinese leader Xi Jinping expected to speak sometime this week as tensions simmer between the world's two biggest economies. "If we can't get to an agreement on China, the tariff battle will be a headline issue for many months to come and will have an impact on both domestic and international economies," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. May saw the biggest monthly increases for the S&P 500 index and the tech-heavy Nasdaq since November 2023, thanks to a softening of Trump's harsh trade stance and upbeat earnings reports. The S&P 500 remains more than 2 per cent below record highs touched in February. Barclays joined a slew of brokerages in raising its year-end price target for the S&P 500, pointing to easing trade uncertainty and expectations of normalized earnings growth in 2026. The Dow Jones Industrial Average fell 91.90 points, or 0.22 per cent, to 42,427.74, the S&P 500 gained 0.44 points, or 0.01 per cent, to 5,970.81 and the Nasdaq Composite gained 61.53 points, or 0.32 per cent, to 19,460.49. Shares of Hewlett Packard Enterprise rose 0.8 per cent as demand for artificial-intelligence servers and hybrid cloud segment helped second-quarter revenue and profit beat estimates. GlobalFoundries rose 2.3 per cent after the chip manufacturer announced plans to increase investments to $16 billion. Shares of the fourth-largest US bank Wells Fargo ended 0.4 per cent lower, although they briefly hit a three-month high after the Federal Reserve lifted a longstanding $1.95 trillion cap on its assets. Wells Fargo CEO Charlie Scharf told Reuters he expects the bank to grow in all businesses including wealth, commercial and investment banking and credit cards, but not mortgages. Tesla fell 3.5 per cent as the electric-vehicle maker's sales dropped for the fifth straight month in big European markets. Shares of cybersecurity firm CrowdStrike slumped 5.8 per cent after it forecast quarterly revenue below estimates. Dollar Tree dropped 8 per cent as the discount store operator forecast second-quarter adjusted profit could fall as much as 50 per cent from a year ago due to tariff-driven volatility. Volume on US exchanges was relatively light, with 14.5 billion shares traded, compared to an average of 17.8 billion shares over the previous 20 sessions. Advancing issues outnumbered decliners by a 1.3-to-1 ratio on the NYSE. There were 223 new highs and 45 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 1.18-to-1 ratio. The S&P 500 posted 23 new 52-week highs and no new lows while the Nasdaq Composite recorded 84 new highs and 35 new lows.
Washington Post
3 days ago
- Business
- Washington Post
Job openings increased in April, even as trade war heated up
Job openings in the United States rose unexpectedly in April, suggesting that the labor market remained healthy despite economic headwinds, fueled by President Donald Trump's tariff policy, which drove the financial markets into turmoil during that same period. The number of available jobs rose to 7.39 million, up from a revised 7.2 million in March, according to data released Tuesday by the Bureau of Labor Statistics, surpassing expectations. 'The labor market is returning to more normal levels despite the uncertainty within the macro outlook,' said Jeffrey Roach, Chief Economist for LPL Financial, referring to an ongoing cooldown in the jobs market. The jump in openings was driven by white collar industries and health care. Meanwhile, demand for workers dropped off in tariff-sensitive industries such as manufacturing and construction, as well as state and local government, as tax revenue have fallen. The new data paints a more optimistic view of the economy in April, which was rattled by a cascade of tariff announcements that rocked Wall Street and Main Street. Consumer spending, which had already been sluggish, cooled significantly in April, as families exercised caution amid tariff uncertainty. Corporate profits also fell sharply, by $118 billion, in the first quarter, the largest drop since early in the pandemic, the GDP report showed. But the labor market appears to be on solid ground, with unemployment hovering new historic lows at 4.2 percent. The rate of hiring also regained lost ground, reaching its highest point in April since September, according to Tuesday's data. And inflation has also fallen from recent peaks, easing pressure on households. The Bureau of Labor Statistics will release its jobs report for May on Friday, providing a fresh view on the state of the labor market. Economists predict employers added 175,000 jobs and the unemployment rate may tick up to 4.3 percent.
Associated Press
4 days ago
- Business
- Associated Press
Arv Private Wealth Launches with Support from LPL Strategic Wealth
SAN DIEGO, June 02, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Christian Reuter, James 'Scott' Robinson and Michael Capeder have launched a new independent practice, Arv Private Wealth, through affiliation with LPL Financial's supported independence model, LPL Strategic Wealth. They reported serving approximately $330 million in advisory, brokerage and retirement plan assets* and join LPL from RBC. Based in San Diego, Reuter and Robinson have been collaborating since 2012 and bring a combined six decades of financial industry experience to the practice. Capeder, who entered the financial industry in 2018, completes the team. Together, they aim to create an independent practice focused on helping clients work towards a more secure financial future. The firm's name is a nod to the Danish word for 'legacy' and 'heritage,' serving as a guidepost for providing a holistic and integrated experience for their clients. 'Clients face a myriad of situations throughout their lives — both good and bad — and it's our responsibility to be there for them,' Reuter said. 'Not just as financial advisors, but as trusted confidants, friends and someone they can turn to for guidance. For us, it's not just about managing their wealth; it's about being there for our clients when they need us most.' Why they made the move to LPL The team chose to affiliate via LPL's comprehensive supported independence solution, LPL Strategic Wealth Services (SW), which combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices thrive, both operationally and strategically. In addition to having access to LPL's innovative wealth management platform and sophisticated resources, SW advisors benefit from a truly integrated service that includes simplified pricing, technology and dedicated support to launch their practice. Then, after the transition is complete, SW teams receive ongoing operations support managed by their team of experienced professionals including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice. 'From our first meeting, it was clear that everything LPL offers is designed with the advisor in mind,' Reuter said. 'From LPL's Admin Solutions which will allow our clients to schedule appointments quickly and easily, to ClientWorks, where they can access all their accounts with a single sign on, we will be able to create our ideal independent practice and deliver a next-level client experience.' Scott Posner, LPL Managing Director, Business Development, said, 'We welcome the Arv Private Wealth team and congratulate them on going independent with LPL Strategic Wealth. At LPL, we believe in providing the strategic support and innovative resources advisors can use to deliver differentiated client experiences. We look forward to supporting this team for years to come.' Related Advisors, learn how LPL Financial can help take your business to the next level. About LPL Financial LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit Securities and advisory services offered through LPL Financial LLC ('LPL Financial'), a registered investment advisor and broker-dealer, member FINRA/SIPC. Throughout this communication, the terms 'financial advisors' and 'advisors' are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial. We routinely disclose information that may be important to shareholders in the ' Investor Relations ' or ' Press Releases ' section of our website. *Value approximated based on asset and holding details provided to LPL from end of year, 2024. Media Contact: [email protected] Tracking #743659
