Create Capacity Without Letting Go: Terry Whitney on Selling Part of Your Book

When you’ve built a thriving advisory practice, letting go of any part of it can feel counterintuitive. But for LPL advisor Terry Whitney, selling part of his book wasn’t about stepping back; it was about stepping up.

In fact, he’s done it twice and wouldn’t rule out a third.

By transitioning a segment of clients through LPL’s Partial Book Sales, Terry freed up the time and energy to focus on his highest-value relationships while ensuring every client continued to receive exceptional service.

After decades in the business, Terry found himself facing a challenge many successful advisors encounter: a growing roster of clients with a wide range of needs. The diversity of his book – from clients requiring complex planning to those with more straightforward needs – meant his time and resources were stretched thin.

“I realized I could better serve my core clients, and myself, by creating more capacity,” Terry says. “ Partial Book Sales offered a way to do that without compromising client care. And honestly, I wish I’d done it sooner.”

Q: Tell us about your practice and what led you to consider a partial book sale. What was the trigger?

Terry Whitney: I had reached a point where my days were maxed out. I was spending more time reacting to service needs across the board than proactively planning for my top-tier clients. I wanted to make space for deeper work, like retirement planning and complex wealth strategies, and knew that meant finding the right fit for clients who didn’t need that same level of complexity.

Q: This was your second partial book sale. Why go through the process again?

Terry: The first one worked so well that when I realized I still had areas where I could create more efficiency, I didn’t hesitate. The process was smooth, the client feedback was positive, and I saw immediate benefits in my schedule and focus. I wouldn’t rule out doing a third if the opportunity was right.

Q: What were your biggest concerns going into it?

Terry: Client continuity was number one. I didn’t want anyone to feel like they were being “passed off” or that they’d be taken care of any less. I was also worried about the time commitment on my end. I thought it would be a long, drawn-out process.

Q: How did the transition help you focus on your more complex clients?

Terry: The clients we transitioned were in good hands right away. LPL’s Wealth Advisors Group handled the onboarding and ongoing service, specializing in clients with more straightforward needs. That freed me up to focus my time on more complex relationships, knowing the rest of my clients were getting consistent, quality care.

Q: Walk us through the experience. Was it as simple as promised?

Terry: Honestly, it was easier than I expected. From the first call, the team had a clear process. They handled the outreach, the onboarding, even the timing of the transition, so it felt seamless. The entire process took about 60 days from start to finish.

Q: What happened after the sale?

Terry: Clients were introduced quickly, and the new service team was proactive in building trust. The feedback I got was overwhelmingly positive. Clients felt supported, and some even commented on how smooth the handoff was.

Q: Were there any surprises along the way?

Terry: The biggest surprise was how little disruption there was to my day-to-day. I expected more follow-up or fires to put out, but the service team truly took ownership. That gave me confidence to focus on my remaining clients right away.

Q: How has this changed your day-to-day practice?

Terry: It’s been transformative. I have the time to meet with my clients more often, anticipate their needs, and work on growth initiatives. It also gave me the breathing room to onboard a new client segment I’d been targeting for years.

Q: How do you measure the success of your partial book sale?

Terry: For me, success is twofold: my core clients are getting more attention and service, and the transitioned clients are happy and well-served. From a business standpoint, my revenue per client has increased, and I’ve had time to focus on strategic growth.

Q: Would you do it again?

Terry: Absolutely. It’s not just a one-time fix. I see it as a long-term practice management tool. I’d recommend it to anyone feeling overextended.

A win-win for clients and advisors

For Terry, Partial Book Sales wasn’t just a transaction. It was a strategic shift. His clients continued to receive high-touch service through a dedicated support team, while he gained the focus and flexibility to grow his business on his own terms.

“It’s one of the best things I’ve done for my practice,” he says. “If you’re feeling stretched thin, it’s worth exploring. It might be the key to serving your clients, and yourself, better.”