By Andrew Welsch

Is LPL Financial still on track to meet its 90% retention goal in the wake of its acquisition of Commonwealth Financial Network? That question will be top of mind for shareholders and analysts when the company reports fourth-quarter earnings after the market closes Thursday.

During the company's third-quarter earnings call, LPL executives said they were tracking toward their goals. A recent report said that about one in four Commonwealth financial advisors departed between when the acquisition was announced in March and the end of last year. When advisors leave they typically bring most of their clients and assets with them.

Despite attrition among the ranks of former Commonwealth advisors, LPL's business has been reaping the benefits of a buoyant market for equities. Over the past year, individual investors have been adding funds to their accounts and buying stocks, actions that have pushed assets under management to record highs at wealth management companies.

Wall Street analysts expect LPL to post higher profit and revenue for the quarter ending Dec. 31 compared to the same period a year ago. Analysts anticipate adjusted earnings of $4.92 per share and revenue of $4.9 billion. For the fourth quarter of 2024, LPL reported adjusted earnings of $4.25 per share and revenue of $3.5 billion.

San Diego-based LPL is one of the nation's largest wealth management companies, having grown through aggressive recruiting and acquisitions. It has 32,000 financial advisors and had approximately $2.3 trillion in brokerage and advisory assets as of the end of the third quarter.

Write to Andrew Welsch at andrew.welsch@barrons.com

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January 29, 2026 12:57 ET (17:57 GMT)

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