Thinking about an unplanned exit of their business is not top of mind for most advisors – even though planning for the unexpected is what advisors do best every day for their clients.

Whether it's feeling overwhelmed, thinking it’s a far off event, or just not sure what the options are, it’s easy to delay this crucial piece of planning.

The reality is this with the Assurance Plan, a quick phone call can protect your family and your clients in the circumstance of your death or inability to run your business.

The Assurance Plan provides an annual valuation of your business, a guaranteed buyer of your business that you can choose, and 1.5x recurring revenue upfront payment and any additional proceeds upon sale, should you have an unplanned exit.

Three LPL advisors talked to us about who they want to protect, why the Assurance Plan gave them peace of mind, and how real life events can illustrate the all too real prospect of the unanticipated.

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"[The Assurance Plan provides] comfort and peace of mind to know that the people you love will be cared for in a proper way."


Donald Barrett


Donald Barrett, Barrett Financial Group

Donald Barrett runs his practice in Kent, OH. He specializes in stocks and mutual funds and his favorite part of his job is seeing the changes he can make in people’s lives. When it comes to the Assurance Plan, Barrett feels it’s a “no-brainer.”

While his five children are now grown and have their own careers, he still has others he needs to look out for. “I love my wife a great deal. I also want to make sure my office manager is taken care of, and I would hate it for my clients to fall into the hands of someone that would push them into heavily commissioned fees,” he said.

“With the Assurance Plan, LPL will find a suitable advisor that wouldn't abuse our client base,” he continued. While Barrett has other investments and trusts, as well as an estate plan, the Assurance Plan for him is, “comfort and peace of mind to know that the people you love will be cared for in a proper way.”

Richard Hill, Compass Financial Group

Raleigh, NC-based advisor Richard Hill specializes in helping the over 55 crowd get ready for retirement. He believes planning for this time of life is crucial. “There are so many questions people have and big decisions they have to make, and they don’t want to mess them up,” he said.

When it comes to his own planning, he likes the idea that his practice can be sold to his team. With the Assurance Plan, he can do all that and protect his wife, family and clients at the same time. Hill notes that with financial advisors, it’s sometimes a situation where “the cobbler has no shoes.” In those cases, he advises, no matter what stage of business advisors are at, it's important to put a plan in place. “For most of us who haven’t done anything, this plan is better than what you’ve got now. Nothing is just not the right answer,” he said.

Trace Dennis, Jal Dennis Group

In 2014, Trace Dennis joined his father, Jal Dennis, in his advisory practice as part of a five-year succession plan, enabling his father to retire. Previously a corporate accountant – and a U.S. Marine – Dennis used his background to quickly get up to speed and become registered.

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Now that his father has transitioned out of the business, Dennis is a Principal in their Wylie, TX-based firm. While doing succession planning for his father, Dennis discovered it naturally begged the question: what would happen if something happened to him? With a wife and two small children, he was looking for something that would protect them.

“As a Marine I know too well how short life can be,” he said. The moment he heard about The Assurance Plan, he signed up. “It’s something I think, from day one, I should have been signed up for, it’s necessary to have in place and it’s not an expensive program.”

LPL offers you this protection and peace of mind with the Assurance Plan. In less than two hours, your family and business can be protected. Schedule a consultation to find out how it can work for you. Schedule now »


The views and opinions expressed by the LPL Financial Advisor(s) may not be representative of the views of other Financial Advisors and are not indicative of future performance of success. Barret Financial Group, Compass Financial Group, Jal Dennis Group and LPL Financial are separate entities.