Breaking the Myths: What a Partial Book Sale Really Means for Your Business

For many advisors, the idea of selling part of their book comes with a tangle of emotion. Will clients feel abandoned? Is this the right move for my business? Is it worth the hassle?

But the truth is, Partial Book Sales is one of the most practical and empowering ways to take control of your growth. And thanks to a streamlined process and a dedicated transition team at LPL, it’s easier than most advisors think.

Myth 1: Letting go of clients means letting go of service

One of the biggest sources of hesitation is the client experience. Advisors often worry: “If I let go of these accounts, what happens to the people behind them?”

Here’s what actually happens: LPL’s Wealth Advisors Group steps in immediately to welcome those clients with personalized outreach. They become the new point of contact. Not a call center, but a team of licensed advisors who get to know each client’s goals and offer access to free financial planning and tailored advice.

In other words, you're not leaving clients behind; you’re handing them off to a professional, attentive team with the tools and time to serve them well.

“Since we’re in a small town with a lot of clients, Partial Book Sales gives us the ability to still know they’re going to be taken care of and not cast out, so they’ll have more opportunity to get better service,” said Laura Dix, a wealth advisor at Legacy Financial in Oregon.

Myth 2: A partial book sale is only for winding down

On the contrary, many advisors use Partial Book Sales as a strategic tool for growth.

“As an advisor’s skillset and experience evolves, so do the clients seeking their advice. If you want to work with higher-net-worth clients, you need the time and energy to deepen those relationships,” said Josh Ifergan, VP of Partial & Full Book Sales at LPL Financial. “One of the best ways to create that capacity is by right-sizing your book.”

By transferring non-core accounts, particularly those that no longer align with your business strategy, you make space for deeper conversations, better planning, and more referrals. It’s not about doing less. It’s about doing more of what matters most.

Myth 3: The process is too complicated

Advisors who’ve used the service often say the same thing: “It was easier than I expected.”

Through the Partial Book Sales tool in ClientWorks, advisors can identify which accounts they want to transition, see an estimated payout (typically a 2x multiple when deal size is >$3M¹ with a trailing 12-month GDC), and complete the submission with minimal back-and-forth. The LPL Wealth Advisors Group handles the rest, from outreach to onboarding, so you can refocus without disruption.

Why more advisors are taking action now

The numbers tell a clear story:

• Less than 4% of revenue often comes from the bottom 50% of clients.²
• 70% of advisors say serving too many non-ideal clients is one of their biggest challenges.³

For growth-minded advisors, that’s not sustainable. “At a certain point, capacity becomes the constraint,” said Ifergan. “This service gives advisors the freedom to scale intentionally.”

How to know if you're ready

You might be a fit for Partial Book Sales if you are:

• Growing quickly and want to spend more time with your top-tier clients.
• Ready to transfer accounts that no longer match your business model or have low revenue producing clients that would benefit from a high-touch service model.
• Defining a niche and want your book to reflect that specialization.
• Exploring ways to make your practice more attractive for a future sale.

As one advisor put it, “I’ve found that by solving more complex needs and deepening relationships, I gather more assets and get more referrals. Partial Book Sales lets me focus on building more of those relationships.”

What’s next

Transferring part of your book doesn’t mean selling yourself short. It means choosing the future you want and building the capacity to make it real while providing your clients with the opportunity for a service model that best aligns with their specific goals and objectives.

Ready to explore whether Partial Book Sales is right for you? Visit ClientWorks Resource Center or contact Partial Book Sales to get started.

Footnotes:

1. 1.5x for deals <$3M, 2x for deals >$3M+

2. Cerulli Assets in Motion, October 2024

3. Based on an analysis of LPL’s 2024 Focus attendee’s practices

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