LPL Expands Liquidity and Succession Program to Outside Advisors

LPL Financial is expanding its Liquidity and Succession program to non-affiliated advisors.

The program, which was initially offered internally to LPL advisors in May 2022, is now being offered to external advisors looking for a buyer for their business. According to LPL, it allows advisors to monetize their businesses in order to retire or just unload some of their operating obligations.

The program is geared toward advisors who aim to retire within the next three to seven years, although it is open to advisors at any point of their careers.

“With so many seasoned advisors expected to retire within the next 10 years, LPL Liquidity & Succession not only helps ensure the continuation of independence – it creates opportunities to position the next generation of independent-minded advisors for success,” said SVP, Liquidity & Succession, Strategic Programs, Jared Fingeret.

The Liquidity & Succession program, through a market-competitive M&A transaction, allows advisors – whether affiliated with LPL or not – looking to sell their practice to keep their brand, investment philosophy, and client service model while benefiting from LPL’s strategic and operational support.

The initiative includes an operational support team as well as LPL’s W-2 model Linsco. The program operates like an M&A transaction between the advisor and LPL, with the advisor moving to the W-2 model.

“At LPL, we understand that fostering relationships is paramount for advisors, but as their business grows managing the day-to-day business operations can keep advisors from being able to focus solely on their clients,” said Jeremy Holly, EVP of strategic business development at LPL.

Holly worked at LPL for 19 years before departing for SageView Advisory Group in 2021. He returned to LPL in 2023 with a mission to oversee the firm’s liquidity, succession, and M&A operations.