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Practice Management > Building Your Business

Latest LPL Service for Advisors: Partial Book Sales

By Jeff Berman

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LPL Financial has launched Partial Book Sales, a new service that the firm said Thursday allows affiliated advisors to easily reshape their book of business and create capacity so that they can focus on more important matters.

Advisors can use Partial Book Sales to right-size their businesses by shifting clients directly to LPL, the company said.

The new service makes use of a new digital platform that makes completing a partial book sale seamless, according to LPL.

The company also says that the latest LPL offering is now available to all corporate RIA-affiliated LPL advisors.

The Partial Book Sales launch follows the 2022 introductions of Bookkeeping Services, Paraplanning Services and the Private Client Services Network.

Advisors using the new service will be guided through identifying and submitting accounts for transfer to LPL, and the advisors will then receive upfront payout on approval, LPL said.

Once transferred, LPL’s Investor Focused Solutions team of licensed advisors will immediately contact the clients and assume responsibility for the ongoing relationship.

“Whether in strategic growth mode, prepping for future M&A, evolving their niche or pursuing other passions, we believe advisors of all stages can benefit from LPL’s Partial Book Sales,” said Aneri Jambusaria, executive vice president of LPL Services Group.

Using the new service, “advisors can reclaim their time without the guesswork, negotiation, delays and advice gaps typically associated with a partial book sale,” Kraleigh Woodford, senior vice president of LPL Planning and Advice Services, said in a statement.

“They’ll have confidence in knowing that LPL will continue to engage with and provide personalized financial advice to those valued clients,” Woodford added.

LPL now supports about 21,000 financial advisors, including advisors at about 1,100 enterprises and at approximately 500 RIA firms nationwide, the company said.

Jeff Berman

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