VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

BlackRock, Inc. vs LPL Financial Holdings Inc.

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

BlackRock, Inc.

BLK · New York Stock Exchange

Market cap (USD)$168.1B
SectorFinancials
CountryUS
Data as of2025-12-31
Moat score
59/ 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 BlackRock, Inc.'s moat claims, evidence, and risks.

View BLK analysis

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.9B
SectorFinancials
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 59 / 100 for BlackRock, Inc.).
  • Segment focus: BlackRock, Inc. has 7 segments (33% in iShares ETFs & ETPs); LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform).
  • Moat breadth: BlackRock, Inc. has 10 moat types across 2 domains; LPL Financial Holdings Inc. has 6 across 4.

Primary market context

BlackRock, Inc.

iShares ETFs & ETPs

Market

Exchange-traded funds (ETFs) and exchange-traded products (ETPs)

Geography

Global

Customer

Institutional and retail (via intermediaries)

Role

ETF sponsor / asset manager

Revenue share

33%

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

BlackRock, Inc.
LPL Financial Holdings Inc.
Ticker / Exchange
BLK - New York Stock Exchange
LPLA - Nasdaq
Market cap (USD)
$168.1B
$29.9B
Sector
Financials
Financials
HQ country
US
US
Primary segment
iShares ETFs & ETPs
Advisor Platform
Market structure
Oligopoly
Oligopoly
Market share
28.3% (reported)
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
59 / 100
79 / 100
Moat domains
Supply, Demand
Supply, Demand, Legal, Network
Last update
2025-12-31
2025-12-26

Moat coverage

Shared moat types

Scale Economies Unit CostOperational ExcellenceSwitching Costs GeneralSuite Bundling

BlackRock, Inc. strengths

Brand TrustDistribution ControlProcurement InertiaLong Term ContractsScope EconomiesData Workflow Lockin

LPL Financial Holdings Inc. strengths

Compliance AdvantageTwo Sided Network

Segment mix

BlackRock, Inc. segments

Full profile >

iShares ETFs & ETPs

Oligopoly

33%

Institutional Index Mandates (Non-ETF)

Oligopoly

5.7%

Active & Multi-Asset (Public Markets)

Competitive

27.5%

Alternatives & Private Markets

Oligopoly

13.5%

Cash Management (MMFs & cash solutions)

Competitive

5.1%

Aladdin & Technology Services

Oligopoly

7.9%

Distribution & Advisory Services

Competitive

7.3%

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.