CORRECTION -- LPL Financial Debuts Partial Book Sales Service

Rhea-AI Summary

LPL Financial has launched its Partial Book Sales service, enabling advisors to reshape their business efficiently. This new offering allows advisors to identify and transfer client accounts seamlessly through a digital platform, providing an upfront payout upon approval. By simplifying the process, LPL aims to help advisors reclaim time and enhance their client relationships. The service is available to all corporate RIA-affiliated LPL advisors, following other recent offerings like bookkeeping and paraplanning services. LPL supports over 21,000 financial advisors, emphasizing personalized guidance and an advisor-centered model.

Positive

• Launch of Partial Book Sales service to help advisors reshape their business.
• Seamless digital platform for identifying and transferring client accounts.
• Immediate availability to all corporate RIA-affiliated LPL advisors.

Negative

• None.

Advisors seeking an easy method of right-sizing their business can now shift clients directly to LPL

CHARLOTTE, N.C., Feb. 09, 2023 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by LPL Financial, please note that in the second paragraph, Aneri Jambusaria's name was misspelled. The corrected release follows. 

LPL Financial LLC today announced the launch of its newest offering, Partial Book Sales, allowing advisors to easily reshape their book of business and create capacity to do more of what matters most.

“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, LPL Services Group.

Powered by a new digital platform, completing a partial book sale is seamless. Advisors are guided through identifying and submitting accounts for transfer, and receive upfront payout on approval. Once transferred, LPL’s Investor Focused Solutions team of licensed advisors immediately contacts the clients and assumes responsibility for the ongoing relationship.

“With this service, advisors can reclaim their time without the guesswork, negotiation, delays and advice gaps typically associated with a partial book sale,” said Kraleigh Woodford, senior vice president, LPL Planning and Advice Services. “They’ll have confidence in knowing that LPL will continue to engage with and provide personalized financial advice to those valued clients.”

Partial Book Sales is the latest service from LPL, focused on enabling advisors to right-size in order to run a thriving business. This launch follows the 2022 introductions of Bookkeeping Services, Paraplanning Services and the Private Client Services Network.

This new service is immediately available to all corporate RIA-affiliated LPL advisors.

About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve*, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

*Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report). No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022). Among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.

LPL Financial and its affiliated companies provide financial services only from the United States.

Securities and advisory services offered through LPL Financial LLC, a registered broker-dealer and investment advisor. Member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Media Contact:
Media.relations@LPLFinancial.com
(805) 640-5391

FAQ

What is LPL Financial's Partial Book Sales service?

LPL Financial's Partial Book Sales service allows advisors to reshape their business by transferring client accounts through a seamless digital platform.

Who can access the Partial Book Sales service from LPL Financial?

The Partial Book Sales service is available to all corporate RIA-affiliated LPL advisors.

How does LPL Financial support its advisors?

LPL Financial supports its advisors by providing tools and services like Partial Book Sales, bookkeeping, and paraplanning, enabling them to focus on client relationships.

What was LPL Financial's announcement on February 9, 2023?

On February 9, 2023, LPL Financial announced the launch of its Partial Book Sales service, designed to help advisors easily transfer client accounts.