VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Arthur J. Gallagher & Co. vs LPL Financial Holdings Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Arthur J. Gallagher & Co.

AJG · New York Stock Exchange

Market cap (USD)$67.9B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
IndustryInsurance - Brokers
CountryUS
Data as of2026-01-09
Moat score
69/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Arthur J. Gallagher & Co.'s moat claims, evidence, and risks.

View AJG analysis

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$28.8B
Gross margin (TTM)24.1%
Operating margin (TTM)9.5%
Net margin (TTM)5.4%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-26
Moat score
79/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 69 / 100 for Arthur J. Gallagher & Co.).
  • Segment focus: Arthur J. Gallagher & Co. has 2 segments (86% in Brokerage); LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform).
  • Moat breadth: Arthur J. Gallagher & Co. has 4 moat types across 2 domains; LPL Financial Holdings Inc. has 6 across 4.

Primary market context

Arthur J. Gallagher & Co.

Brokerage

Market

Insurance and reinsurance brokerage and consulting

Geography

Global

Customer

Commercial, industrial, public sector, nonprofit and other organizations; underwriting enterprises for reinsurance placements

Role

Intermediary / broker / advisor

Revenue share

86%

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Side-by-side metrics

Arthur J. Gallagher & Co.
LPL Financial Holdings Inc.
Ticker / Exchange
AJG - New York Stock Exchange
LPLA - Nasdaq
Market cap (USD)
$67.9B
$28.8B
Gross margin (TTM)
n/a
24.1%
Operating margin (TTM)
n/a
9.5%
Net margin (TTM)
n/a
5.4%
Sector
Financials
Financials
Industry
Insurance - Brokers
Financial - Capital Markets
HQ country
US
US
Primary segment
Brokerage
Advisor Platform
Market structure
Oligopoly
Oligopoly
Market share
n/a
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
69 / 100
79 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal, Network
Last update
2026-01-09
2025-12-26

Moat coverage

Shared moat types

Operational Excellence

Arthur J. Gallagher & Co. strengths

Service Field NetworkBrand TrustData Workflow Lockin

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingCompliance AdvantageTwo Sided NetworkSwitching Costs General

Segment mix

Arthur J. Gallagher & Co. segments

Full profile >

Brokerage

Oligopoly

86%

Risk Management

Competitive

14%

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.