LPL Financial (LPLA) Cuts Q3 Outlook
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LPL Financial Announces Earnings Update for Third Quarter 2014
October 21, 2014 4:15 PM EDTBOSTON, Oct. 21, 2014 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (Nasdaq: LPLA) (the "Company"), parent company of LPL Financial LLC ("LPL Financial"), today announced that it expects to incur greater than expected charges totaling $23 million in the third quarter associated with regulatory matters relating primarily to issues involving LPL Financial's systems, policies and procedures.
Net revenue for the third quarter is expected to be consistent with prior expectations, growing to approximately $1.1 billion. Due to the increased regulatory charges, the Company expects net income and diluted earnings per share to be in the range of $32... More
