How Partial Book Sales Enabled a Practice to Focus on Ideal Clients

Laura Dix, CEO and Wealth Advisor at Legacy Financial in Woodburn and Hermiston, Oregon, has been in the financial advisory business for 16 years. With a team of four advisors and three administrators, Legacy Financial is currently experiencing hypergrowth. This has brought significant challenges, particularly in managing capacity and maintaining high service standards. Laura shares her experience with LPL’s Partial Book Sales program, which has been a game-changer for her practice. 

To address these challenges, Laura and her team utilized LPL’s client segmentation tool within ClientWorks to identify which clients would be best served by LPL and which would remain with Legacy Financial. This tool helped them make data-driven decisions based on revenue, the depth of client relationships, and future growth potential.

Smooth and Supported Transition Process

The transition process with LPL’s Partial Book Sales was smooth and well-supported. Laura and her team received quick help and clear guidance, which made the entire process much easier.

“Our experience with the Partial Book Sales team was fast help, a lot of clarity and understanding on the process, and what it meant for not just our team, but for our clients. The tool and being able to utilize the online services made it very easy,” Laura shares.

“The change to LPL definitely came with a lot of anxiety for us as advisors. We didn't want to burn client relationships. We were really concerned about how the clients would take it. The change was communicated through letters. If it was a client that we really felt wouldn't understand, we reached out with a phone call and walked them through the process and why, and reiterated to them that they wouldn’t have much change on their end, but they were going to get a lot more service and hands-on help than we could currently provide,” Laura adds.

Positive Impact on Business and Clients

The impact of Partial Book Sales on Legacy Financial has been significant. It has allowed the team to focus on their ideal clients while ensuring that those who no longer fit their model are still well taken care of. This has led to increased capacity and the ability to continue growing their business.

“Partial Book Sales has impacted our business moving forward, as a team that's doing acquisitions, and we won't stop. It gives us the ability to continually find our ideal client and keep striving to work with that client no matter what comes our way,” Laura emphasizes.

For Laura Dix and her team at Legacy Financial, LPL’s Partial Book Sales program has been a strategic solution to their capacity and service challenges. By leveraging the segmentation tools and the support from LPL, they were able to transition clients who no longer fit their ideal client profile without burning relationships. The process was smooth, and the outcomes have been positive, allowing them to continue their growth and provide even better service to their remaining clients.

If you’re facing similar challenges in your practice, consider LPL’s Partial Book Sales. It can help you manage capacity, maintain high service standards, and continue to grow your business effectively. 

Tracking #800975