LPL Execs Tout Capital, Succession Planning Solutions

"Advisors are really interested in growing through acquisition," Jeremy Holly, senior vice president of corporate development and AFS, went on to say. After all, "there's a lot of benefits to doing it," he said, explaining: "You can take [on] a lot of clients at once and so you get the benefits of faster growth, increased scale, as well as you get access to the referral network that comes with those clients … It is also is good for expanding your market presence and getting into new markets, as well as getting into areas of new distribution."

But handling an M&A isn't so simple for an advisor, he said, noting "advisors sometimes struggle with some challenges around M&As" because it "can be a complex process" and "they don't do it very often, so the learning curve can be pretty steep."

LPL is, therefore, "building an end-to-end solution that helps advisors through that process, so it's a faster, simpler, more cost-effective way to do M&A," Holly said, adding: "What we're trying to do is take as much off their plate as possible."

The company also said it's developing a portfolio of monetization solutions, providing advisors peace of mind regarding their assets and their family, staff and clients. One solution, which it said will be available to all LPL advisors, will allow them to monetize their business in the event of an unplanned exit, it said. Advisors will also be able to access capital and resources to help them plan their succession or be able to monetize their business when they're ready.

These solutions are being offered amid increased demand among RIAs industrywide for capital for M&As and internal succession, DeVoe & Co. recently pointed out while announcing its own solution.

The second-quarter Nuveen/DeVoe RIA Deal Book reported the industry experienced record M&A activity in the first half of 2019 (65 transactions) and was on track to experience a sixth straight record year of M&A.

At Focus, meanwhile, LPL also pointed to the importance of diversity. The firm noted in an announcement that it expanded its lineup of diversity and inclusion programming at its annual conference. Advisors at this year's event have "access to more breakout sessions, networking events and personalized support than ever before, reflective of the firm's ongoing commitment to helping advisors reach new cultural markets and create more inclusive practices," it said.

As part of LPL's diversity initiatives, it's recruiting more women, according to Kara Mackie, assistant vice president of business development. Bringing more women into an advisor business provides "just an amazing opportunity for advisors to bring more experience, different life experience [and] different opportunities for end clients to connect with advisors," she told attendees.