Frequently asked questions

General Questions

Pricing varies by each solution and the level of service your business requires. Specific services and levels of support will be confirmed in an agreement. Your Business consultant will review your options based on learning your business needs.

We bill in arears by pulling fees from commissions earned. For example: a February service fee is pulled from March commission payments.

There are two commission cycles each month. You can choose whether to have fees pulled from the first, the second, or split between the two.  

Admin Solutions

Our admins can handle all the typical functions you may expect from an office assistant such as: manage your calendar, schedule appointments, proof documents, send emails, and coordinate meetings. They can also manage tasks specific to operating a financial practice like managing standard account activity, processing new account opening documents, account maintenance, transfers, and cash management. They have expertise in using ClientWorks, Account View, Move Money, AdvisoryWorld, and WealthVision so that they can help serve and answer questions for your clients.

You will have an admin professional who will learn your business and consistently represent your firm. Your admin is backed by a team of trained professionals so your business needs are always met.

Yes, we do have options to provide multiple levels of support. Let your business consultant know about your specific needs so that we can invite each advisor to participate in the onboarding process to ensure your admin is prepared to meet all advisors’ business needs.

Your Admin is an LPL employee who is required to undergo background checks, drug testing, and sign a confidentiality agreement to protect your business and your clients’ private and sensitive data. With your permission, your admin is granted administrative assistant level access to your LPL accounts, such as ClientWorks, to perform only administrative level tasks. Admins should only be given access to information allowed under federally regulated compliance standards.

Advisor Institute

The Advisor Institute has tools to help you hire the right talent for your team. Our Talent Assessment System can help you find new advisor talent with the highest potential to excel. It includes research-based online assessments that provide insights about a candidate’s work styles and capabilities. And, for the hiring manager—a detailed write-up that shows the candidate's results and how to interpret them.

The system also contains a structured interview framework utilizing behavioral techniques that provide deeper insight about candidates based on previous experiences, plus a candidate scorecard to help more easily evaluate and compare candidates. 

Learn more about the Talent Assessment System

Once hired, we provide a wide range of training programs that expedite the development of your new advisor talent. Our programs provide financial professionals the skills they need to prosper ─ so they can quickly contribute to your success ─ while allowing you to stay focused on your clients and your business.

Explore all of our programs on the ClientWorks Resource Center

Advisor Institute programs were developed by financial industry professionals and subject-matter experts. Current programs include:

  • Signature Program - A robust 12-month program for independent or hybrid advisors where new financial professionals take on increasingly more responsibility as they develop their own books of business, so they are ready for full production by the end of the program

  • Licensing Program - Participants receive professional coaching and education to help pass their Securities Industry Essentials (SIE), Series 7 top-Off (S7TO), and Series 66 (S66) exams

  • Core Skills - Participants learn top techniques for client acquisition to help grow their business

  • Certified Financial Planner (CFP®) Fast Track Program - An accelerated program that allows participants to complete all the required courses necessary to sit for the CFP® exam in 8 months

  • Institutional Mastermind Program - Institution advisors learn best practices on ways to partner with branch teams to grow their business, increase client satisfaction, and maximize referrals

  • Fee Waiver Program - Gives new independent or hybrid advisors time to grow production revenue and have LPL fees waived if NNA targets are hit

Explore all of our programs on the ClientWorks Resource Center

Yes, we offer training programs ranging from the general to the highly specialized. They can support financial professionals at all experience levels, from non-licensed personnel who need to become fully licensed, to newer advisors looking to polish prospecting and sales skills, as well as established advisors looking to hone their skills or earn a professional designation, such as the CFP®. 

Explore all of our programs on the ClientWorks Resource Center

Assurance Plan

Unplanned exit or incapacity is defined as your involuntary exit from the industry due to death or an accident, injury, or medical condition that prevents you from working due to physical or cognitive impairment.

The initial valuation will take place within six months of purchasing the Assurance Plan. The valuation will be assessed annually during a three-year contract. After the triggering event, a new valuation will be conducted to help guide fair market value for potential buyers.

It is based on a 1.5x multiple of your recurring revenues. Recurring revenues are defined as existing trail commissions and advisory fees generated through LPL (and do not include off-platform assets such as TAMPs). Does not include assets held outside of LPL.

The initial payment is typically paid out via check to the beneficiary within 45 days of LPL being notified of your death or incapacity.

Bookkeeping Services

LPL Bookkeeping Services is designed specifically for you as an LPL advisor. Your LPL bookkeeper understands the complexity of a financial advisors’ work and has extensive experience with LPL commission statements. In addition, your LPL bookkeeper is dedicated to learning the nuances and goals of your business, and with professional knowledge of wealth management industry standards, will help guide you with bookkeeping best practices.

Yes; with this service, you’ll need to adopt QuickBooks Online and own your client account. Transactions are recorded and categorized exclusively in this system to optimize reporting transparency and collaboration.

On average, onboarding takes only four hours of your time over the course of one-to-two months. This time allows for granting access to various systems, getting year-to-date financials in good order, and restating your revenue. Your dedicated bookkeeper will help you every step of the way to ensure a smooth transition.

To protect your information and assets, LPL Financial employs extensive physical, technical, and procedural security controls at all of our facilities. Your bookkeeper will only access your information when you share it and will never disclose this information without your direct permission.

Yes; your bookkeeper will communicate directly with your certified public accountant (CPA), and you’ll be included on all communications between your bookkeeper and CPA. 

CFO Solutions

LPL’s CFO Solutions delivers personalized executive insight to help you run your business efficiently, profitably, and achieve your goals. We execute proven strategies with measurable results, helping advisors like you to level up, in your way, and on your terms.

Your CFO will often work with your accountant as a strategic partner, providing financial insight and implementation that an accountant may not be qualified to provide. Your CFO focuses on strategies for growth and measurable outcomes like resolving cash flow issues and optimizing margins, shaping and helping execute short- and long-term financial plans for your business.

Your CFO will work with you to develop a long-term business strategy that will be measured by short-term accomplishments, each of which will bring your business closer to your ultimate goals. Your CFO is effective because they have an ongoing relationship with you and your business, and will meet with you regularly to set measurable goals and objectives, and ensure progress against those goals. Unlike other consulting services, your CFO will go beyond merely identifying areas to focus on, but will partner with you to implement and execute against your own customized, strategic plan.

Your CFO can help you run your business more efficiently and profitably in a number ways, including organizing and standardizing your financial and operational foundations, helping you increase the value of your business, accelerating your growth, implementing proven strategies for optimization, preparing for future transition or succession, and working with a trusted partner to help accomplish your goals.

Digital Office

We ensure that our service meets or exceeds the industry's best standards for storing PII in the cloud. Our solution adheres to the policies set by Compliance. We configure all the service settings in advance to ensure your cloud storage solution is compliant with the Branch Office Security Policy section 6.4.

We will provide your business with unlimited cloud storage.

When you are working online, your files save in real time to the cloud. 

Compliance and cybersecurity are two different things. Financial professionals today are required to navigate increasingly complex waters when it comes to regulatory compliance. Having client data in a digital format has made compliance issues more complicated that even those who follow the rules to the best of their abilities can still step out of bounds on occasion. That’s why LPL offers firms 24/7 compliance monitoring so that your practice stays in bounds.

Firms in compliance have fallen victim to cyber-attacks. LPL has discovered that a majority of the firms who reported a cyber–attack were compliant with LPL’s Branch Office Security Policy at the time. That’s because cybersecurity experts report that the security walls used by most advisory firms are still relatively weak. LPL created Secure Office to answer this need to provide enterprise-level security programs to monitor for potential threats 24/7 and provide a way to respond and mitigate them to avoid the impact of an attack.

LPL monitors over 10,000+ devices daily using the latest end-point protection tools used by many of the largest financial services companies and government entities in the world. Secure Office is a program that allows LPL to extend access to these protection tools and offer 24/7 security monitoring and a response team to thwart potential threats actively. Management software is included in Secure Office to make software updates in real-time to apply security patches and securely back up all data on your device. It is also used to make updates to keep your device compliant to withstand a branch audit.


No, there is no minimum investable asset threshold for investors to qualify for this support. Our team is available to assist you with any clients or prospects you believe would benefit from these services based on their needs and specific scenario. 

We know you work hard to get and keep your clients, so we work closely with you to listen to your needs and your client’s needs, and then customize our approach. We can attend client meetings with you or work behind the scenes—it’s up to you.

This service is designed to work with and for your business, in whatever way best supports you. We can extend and enhance your own capabilities, and strengthen the capabilities of your own network of accountants, attorneys, and more, to provide your high-net-worth clients with exceptional service and deep expertise.   

Marketing Solutions

Yes. A successful marketing plan starts with a clear strategy. As the business owner, you’ll work with your marketing consultant to define your goals, and identify your target consumer, so that they can design a plan aligned with your goals and then execute the plan to bring your campaign to life.

During the onboarding process, your Marketing Consultant will conduct an in-depth discovery call with you to learn about your practice. Based on the information you share, your Marketing Consultant will then be able to pull and tailor content relevant to your clients and target prospects from our exclusive Marketing Solutions content library curated from a wide variety of financial content vendors and subject matter experts.

Your online presence is critical. Your Marketing Consultant can make professional recommendations for improving your website and SEO performance. They can also create landing pages and forms that generate leads and develop effective online messaging to differentiate your practice from your competitors.

Yes. Your Marketing Consultant will work with you to create a customized content calendar for sharing content that resonates with your audience and draws attention to your practice through Facebook, Twitter, and LinkedIn. If you don’t already have these social media profiles created for your practice, your Marketing Consultant can create them for you.

M&A Solutions

LPL M&A Solutions is industry-leading in that we provide comprehensive, end-to-end support for the process using our team of skilled transaction specialists. If you were to manage the M&A process independently, you must engage with multiple vendors that specialize in specific components of M&A (e.g. valuation or contracts). The process can be complex, time-consuming, and costly. With LPL, you have one consistent and knowledgeable guide managing the transaction, freeing you to spend your time where it matters most. Beyond closing the deal, LPL goes the extra mile with integration and transition of the book, increasing efficiency and mitigating execution risk.

Our team collectively has decades of experience in mergers and acquisitions, and consistently assists on over 100 deals each year. We understand financial professionals and their businesses, and work with you to help ensure a stress-free, positive experience.

LPL has access to a vast network of active buyers and sellers. Our M&A team leaders are skilled and experienced in matching buy- and sell-side advisors with the most suitable candidates. In addition, LPL offers services to advisors who want to enhance their position as a qualified, pre-approved buyer so you’re always ready to take immediate action on suitable opportunities.

Yes, your deal team can assist you with financing through LPL, offering flexible terms, competitive rates, streamlined applications, and quick access to funding.

Paraplanning Services

You subscribe to Paraplanning Services according to our fee schedule. Your subscription includes the services of both a designated Plan Manager and a team of Plan Associates. The Plan Manager serves as your personal planning partner and works to understand your planning philosophies and identify strategies that align with your clients’ goals. The Plan Manager then partners with a Plan Associate, who is responsible for data entry, analysis creation, and defining opportunities. The Plan Manager oversees the quality and accuracy of the plan delivery.

You receive a full plan as generated by the financial planning software, which you can access, maintain, and adjust in future planning discussions with your client. You also receive an LPL Financial Plan Summary recapping client goals and assumptions, key highlights, observations, and action items.

The Paraplanning team acts as an extension of your services. We remain in the background unless otherwise indicated in the type of plan you request.

Paraplanning Services supports eMoney, WealthVision, Right Capital, and MoneyGuidePro. 

It’s entirely appropriate to charge clients a fee for the design, delivery, and execution of a financial plan, whether you’ve created that plan yourself, in-house, or with the Paraplanning Service team’s assistance. 

Partial Book Sales

The Partial Book Sales experience is simple and straightforward. It is designed to make it easy for you to right-size your book, while ensuring your clients experience a smooth transition and receive professional financial advice and prioritization from the advisors on the LPL Investor Focused Solutions team.

For further information about the process, which blends the power of automation with a high-touch transition process for clients, learn more on the Partial Book Sales page located on the Resource Center (login to ClientWorks required).

LPL does not pick and choose which accounts to buy. We only act upon those accounts you’ve identified. We do, however, have a few basic guidelines. For example, corporate advisory, mutual funds, ETFs, bonds, annuities, and similar products are all acceptable assuming the account data is in good order.

For further details, learn more on the Partial Book Sales page located on the Resource Center (login to ClientWorks required).

Your transitioned clients will receive ongoing advice and service from the LPL Investor Focused Solutions team. After the transfer, the team immediately initiates outreach and assumes responsibility for the client relationships. The onboarding experience is seamless, welcoming, and engaging and is intended to reinforce the notion that their advisor has acted in their best interest in transferring the relationship.

Learn more about the LPL Investor Focused Solutions team and its onboarding process on the Partial Book Sales page located on the Resource Center (login to ClientWorks required).

Tax Planning Services

While many of your clients would benefit, business owners and high-net-worth individuals who have sophisticated tax needs have the most to gain from a comprehensive tax plan.

We work with you to review your book and identify clients who have specific personal, employment, and investment characteristics that help determine if they may benefit from tax planning.

Then, on agreement to engage, we create a tax plan customized for each client on a case-specific basis.

Tax Planning Services will work closely with you to understand your clients’ goals and the specifics of their situation. Then we’ll review and indicate whether there is an opportunity to minimize certain clients’ future tax liability, while also determining the level of engagement needed.

It’s up to you. Some advisors ask our tax planning team to co-present the plan to their clients in partnership with them, while others simply want to consult with us prior to the client presentations. Regardless of who presents, we’ll be available to guide you and answer your clients’ questions throughout the process.