Page 37 - Investment Advisor April/May 2023

Conclusions

BROKER-DEALER BEAT
By Jeff Berman

cally associated with a partial book sale,”
Kraleigh Woodford, senior vice president
of LPL Planning and Advice Services, said
in a statement. “They’ll have confidence
in knowing that LPL will continue to
engage with and provide personalized
financial advice to those valued clients.”
LPL currently supports about 21,000
financial advisors, including advisors at
about 1,100 enterprises and at approxi-
mately 500 RIA firms nationwide.
Separately, Raymond James Financial
has moved to expand its digital mar-
keting program for advisors, adding
Latest LPL Service for Instagram Professional to the list of
advisors’ marketing tools. The company
intends to continue expanding advisors’
Advisors: Partial Book Sales marketing capabilities, with “plans for a
focused launch of YouTube and Spotify
Meanwhile, a rival firm adds Instagram to its podcasting in the coming months,” it

Advisor Marketing Program. disclosed in late February.
These capabilities support advisor
brand-building and help practices devel-
PL Financial has launched Partial Advisors using the new service will be op deeper connections with their clients,
Book Sales, a new service that guided through identifying and submit- Raymond James said. Raymond James
Lallows affiliated advisors to eas- ting accounts for transfer to LPL, and the didn’t specify how much it plans to spend
ily reshape their book of business and advisors will then receive upfront payout on digital marketing capabilities this
create capacity so that they can focus on on approval, LPL said. Once transferred, year. But “the firm’s annual investment
more important matters, it says; advi- LPL’s Investor Focused Solutions team in technology has increased from $500
sors can now use Partial Book Sales to of licensed advisors will immediately million in 2022 to $700 million in 2023,”
right-size their businesses by shifting contact the clients and assume responsi- a company spokesperson explained.
clients directly to LPL. bility for the ongoing relationship. Since 2011, Raymond James has
The new service makes use of a new “Whether in strategic growth mode, been offering advisors support in post-
digital platform that makes completing prepping for future M&A, evolving their ing on popular social platforms includ-
a partial book sale seamless, according niche or pursuing other passions, we ing Facebook, LinkedIn and Twitter. The
to LPL. The company also says that the believe advisors of all stages can ben- firm’s advisors can select from multiple
latest LPL offering is now available to all efit from LPL’s Partial Book Sales,” said social engagement options, from self-driv-
corporate RIA-affiliated LPL advisors. Aneri Jambusaria, managing director, en, custom content to sharing from a pre-
The Partial Book Sales launch follows LPL Services Group. approved library of curated content using
Adobe Stock Services, Paraplanning Services and the reclaim their time without the guesswork, which is integrated with email and custom
Using the new service, “advisors can
the firm’s internal RJ Connect portal,
the 2022 introductions of Bookkeeping
negotiation, delays and advice gaps typi-
Private Client Services Network.
advisor website support, the company said.
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