Advisors who wish to retire, or free themselves from the admin of working a enterprise, now have a brand new choice.
LPL Monetary has launched a first-of-its-kind program that permits advisors to monetize the enterprise they’ve constructed and retire, or free themselves from the tasks of enterprise possession to focus on working with shoppers.
The Liquidity & Succession providing gives a solution to promote their observe however preserve their model, funding philosophy, and shopper service mannequin. It has been accessible to LPL’s current advisors for the previous 12 months and is now open to unbiased advisors, whether or not they’re affiliated or not.
“As their enterprise grows managing the day-to-day enterprise operations can maintain advisors from with the ability to focus solely on their shoppers,” mentioned Jeremy Holly, EVP of Strategic Enterprise Improvement.
This system is aimed toward these advisors that plan to retire inside three to seven years – estimated to be a big cohort – though this isn’t set in stone that means that these at any stage of their work trip might be thought of.
“Advisors who’re nearing retirement are paired with different, philosophically aligned, unbiased advisors to assist present shoppers with an identical expertise and seamless transition,” mentioned Jared Fingeret, SVP, Liquidity & Succession, Strategic Applications.
LPL says it provides aggressive valuations and a clear payout construction to supply advisors with monetization choice for the enterprise they’ve constructed. Its help companies and options assist advisors offload enterprise working duties and gives methods for the subsequent part of their enterprise.
Study extra about reprints and licensing for this text.