And as for capital, Cornick said: “Advisors are running a business so we understand that they need the capital. Capital is like oxygen to them,” he said. “But it’s not just about having it available to them, but having it available when they need it,” he added.
The release also pointed out that LPL is developing a portfolio of monetization solutions to help protect the value of an advisor’s business. It will give advisors peace of mind regarding their assets and their family, staff and clients. One solution, which will be available to all LPL advisors, would allow them to monetize their business in the event of an unplanned exit, the released noted.