LPL Financial falls after Q3 revenue miss, cut in Commonwealth asset retention estimate

By Reuters News15:45 (UTC), 28 October 2026 Updated

** Shares of wealth manager LPL Financial LPLA.O tumble 14.3% to $272.40

** After markets closed on Tuesday, co reported Q3 revenue of $5.34 billion, below analysts' estimate of $5.38 billion, according to LSEG data

** Cuts expected asset retention from its acquisition of investment adviser Commonwealth Financial Network to about 83% from 90% previously

** Lowers estimated run-rate EBITDA from Commonwealth to $415 million from $410 million to $435 million

** LPLA acquired privately held Commonwealth in March 2025 for about $2.7 billion in cash

** 15 of 19 analysts rate stock "strong buy" or "buy" and four "hold"; their median PT is $397.5

** Including session's move, stock down 24% YTD

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