Strong Financial Performance: LPL Financial Holdings reported a record total advisory and brokerage assets of $1.9 trillion in Q2 2025, driven by a solid organic growth of $21 billion (5% annualized rate) and complemented by a rebound in equity markets. The adjusted EPS reached $4.51, representing a 16% increase year-over-year.

Acquisition of Commonwealth Financial Network: The company is set to close the acquisition of Commonwealth tomorrow, maintaining a 90% adviser retention expectation. The leadership team has engaged with Commonwealth advisers to understand their needs and ensure a smooth integration, reinforcing LPL¡¯s commitment to preserving Commonwealth¡¯s culture and value.

Cost Management Initiatives: LPL has successfully managed costs, leading to a reduction in core G&A guidance for 2025 to a range of $1.88 billion to $1.92 billion, which factors in the incremental costs from Commonwealth. The company aims for sustainable improvements in operating leverage and has room for further efficiency gains through ongoing initiatives.