LPL Financial is working on programs aimed at helping its network of financial advisors prepare for acquisitions and succession, the company says.

In addition to the capital available from LPL, advisors considering acquisitions will get access to a single point of contact throughout the process, from valuation through diligence, deal structuring, contracting and transitioning, according to a press release from LPL.

"We want to be able to take as much work and complexity as possible off of the advisors’ plates, so they can stay focused on their core business. The M&A process is complex, and without experience, advisors are susceptible to spending unnecessary time and money," Greg Cornick, LPL executive vice president, finance and head of advisor financial solutions, says in the press release.

LPL is also building a suite of succession planning tools, including a program aimed at helping advisors monetize their practices in case of an unplanned exit, the company says. As with acquisition planning, LPL’s advisors will also have access to capital to plan for succession, according to the press release. The company announced both programs at its Focus 2019 conference, held earlier this week in San Diego.

Meanwhile, LPL lured Dennis Priest and Edmond Karam of Benefit Funding Retirement Services from Royal Alliance, which is part of the Advisor Group network of broker-dealers, LPL says in a separate press release.

The pair, who reported managing $150 million, join LPL’s corporate RIA and broker-dealer platforms, according to the company.