LPL is sharpening its focus on business owners, a key segment in the high-net-worth advisory space, with a new offering to help its advisors support entrepreneurial clients.
On Tuesday, LPL said it introduced new business planning tools aimed at helping its nearly 29,000 financial advisors provide more personalized support to business owners, including founders and chief executive officers.
The initiative, part of the firm’s broader push to provide high-net-worth services, comes as a significant portion of US business owners near retirement age. As one report has it, more than half of private employer business owners are over 55.
Another study by Edward Jones, conducted in partnership with Morning Consult and NEXT360 Partners, found two-thirds of business owners have a succession plan, but 16 percent feel unprepared for their succession. Among those yet to craft a plan, almost two-fifths said their business isn't at the stage where succession is a priority, and a third were either uncertain about the future of their business (32 percent) or did not know where to start the planning process (32 percent).
“CEOs and founders have worked incredibly hard to build their businesses and deserve the highest caliber of planning and advice,” Jen Hollers, senior vice president and head of high-net-worth services at LPL Financial, said in a statement.
As part of the new service, LPL said its advisors can connect business-owner clients with a certified business exit planner who helps coordinate succession strategies and serves as a liaison to banking partners. The firm added its approach is designed to enhance the level of service advisors provide while differentiating their offerings in a competitive marketplace.
An October survey report by Brown Brothers Harriman offers some hints on where business owner clients need help. In one of the most telling findings, roughly three-quarters (74 percent) said they planned to take action in their estate planning ahead of the expected expiry of the federal gift and estate tax exemption set to expire in January 2026.
“Through relationships with trusted investment banks, we enable LPL advisors to offer their business-owner clients a full-service experience, helping them strategize, scale, and, when the time is right, pursue an optimized sale,” Hollers said.
Examiners will scrutinize fee conflicts, complex products and super intelligence threats as broker-dealers face fresh Reg BI and AML reviews
New launches tackle succession planning, AI-driven email management and heir retention ahead of the great wealth transfer
For sellers weighing PE deals, due diligence shouldn't end with the offer on the table – the acquiring platform and the M&A advisor deserve a hard look as well.
South Carolina estate planning firm joins Osaic’s IBD network, citing succession planning tools and multigenerational growth resources.
A new SIFMA and KPMG study of more than 2,100 US investors finds satisfaction high, AI-only trust falling, and demand for human guidance growing across every generation.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
