Wells Fargo Initiates Coverage On LPL Finl Hldgs with Overweight Rating, Announces Price Target of $362

LPL Financial Welcomes Trio of Independent Texas Advisors

LPL Financial announced that three independent financial advisory firms from Texas—Burnett Financial Services, Fowler Investment Services, and Carlile Investment Services—have joined its broker-dealer and RIA platforms. The three firms collectively manage approximately $430 million in assets and were previously affiliated with Raymond James. The advisors cited LPL's technology, platform familiarity, and advisor-focused culture as key reasons for the move.

Nasdaq 100 Flirts with Records, Oil Sinks for Fifth Day: Stock Market Today

Nasdaq 100 printed an intraday record on AI enthusiasm while financials slid nearly 2% and crude fell for a fifth straight session.

Shares of financial companies are trading lower. The sector may be under pressure as traders rotate into the tech space after recent e-commerce and payments partnerships with Meta's Muse AI agent threaten to disrupt traditional financial companies.