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LPL Financial's quarterly profit rises 20 pct

Tuesday, 11 Feb 2014 | 6:14 AM ET

Feb 11 (Reuters) - LPL Financial Holdings Inc, the largest U.S. independent broker-dealer, reported a 20 percent rise in quarterly profit, helped by higher commission and advisory revenue.

The Boston-based company's net profit rose to $44.4 million, or 43 cents per share, in the fourth quarter ended Dec. 31 from $36.9 million, or 34 cents per share, a year earlier.

Net revenue rose 16 percent to $1.09 billion.