LPL Financial Holdings Inc. Goodwill & Intangibles Disclosure
| Balance at December 31, 2023 | $ | 1,856,648 | |||
| Goodwill acquired | 333,205 | ||||
| Purchase accounting adjustments | (16,980) | ||||
| Balance at December 31, 2024 | 2,172,873 | ||||
Goodwill acquired | 497,885 | ||||
Purchase accounting adjustments | (26,035) | ||||
| Balance at December 31, 2025 | $ | 2,644,723 | |||
| Weighted-Average Life Remaining (in years) | Gross Carrying Value | Accumulated Amortization | Net Carrying Value | |||||||||||
Definite-lived intangibles, net(1): | ||||||||||||||
Advisor and institution relationships | 13.6 | $ | 3,350,706 | $ | (859,100) | $ | 2,491,606 | |||||||
Client relationships | 12.3 | 909,868 | (143,039) | 766,829 | ||||||||||
Trade name | 15.6 | 26,000 | (677) | 25,323 | ||||||||||
| Technology | 3.0 | 20,930 | (15,443) | 5,487 | ||||||||||
| Product sponsor relationships | 1.2 | 234,086 | (232,362) | 1,724 | ||||||||||
| Total definite-lived intangible assets, net | $ | 4,541,590 | $ | (1,250,621) | $ | 3,290,969 | ||||||||
| Other indefinite-lived intangibles: | ||||||||||||||
| Trademark and trade name | 39,819 | |||||||||||||
| Total other intangibles, net | $ | 3,330,788 | ||||||||||||
| Weighted-Average Life Remaining (in years) | Gross Carrying Value | Accumulated Amortization | Net Carrying Value | |||||||||||
Definite-lived intangibles, net(1): | ||||||||||||||
Advisor and institution relationships | 13.4 | $ | 1,626,281 | $ | (699,385) | $ | 926,896 | |||||||
Client relationships | 12.7 | 581,519 | (86,292) | 495,227 | ||||||||||
| Product sponsor relationships | 1.3 | 234,086 | (220,880) | 13,206 | ||||||||||
| Technology | 7.6 | 20,930 | (13,090) | 7,840 | ||||||||||
| Total definite-lived intangibles, net | $ | 2,462,816 | $ | (1,019,647) | $ | 1,443,169 | ||||||||
| Other indefinite-lived intangibles: | ||||||||||||||
| Trademark and trade name | 39,819 | |||||||||||||
| Total other intangibles, net | $ | 1,482,988 | ||||||||||||
| 2026 | $ | 260,211 | |||
| 2027 | 256,453 | ||||
| 2028 | 254,756 | ||||
| 2029 | 247,915 | ||||
| 2030 | 245,920 | ||||
| Thereafter | 2,025,714 | ||||
| Total | $ | 3,290,969 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 25, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.