LPL Business Solutions conducted a study examining the strategies utilized by top-performing advisors to achieve exceptional business results. 

The LPL study finds that almost all top-producing advisors employ four primary strategies. These advisors assume a CEO-like approach to their business, efficiently manage their time through delegation or outsourcing, provide comprehensive services spanning clients' financial journeys, and synchronize their personal values with all aspects of their business. According to FinancialPlanning.com, Lanser emphasized that this valuable data can be harnessed by any advisor to elevate their business performance.

The study highlighted that top advisors actively invested in professional development and technology to remain at the forefront of their offerings. Additionally, it revealed that 77% of those advisors had a trained staff member capable of assuming the responsibilities of another team member in case of departure. On average, the advisors also had a larger emergency fund. The top advisors had a six-month fund, compared with only four months for all other advisors. Additionally, the advisors are more likely to carry worker's compensation, commercial property coverage, and cyber/data breach insurance. 

Additionally, top advisors display streamlined practices, with 95% adopting model-based approaches that eliminate the need for customizing investments. Furthermore, almost 90% of high-performing advisors possess publicly available written value propositions or mission statements.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.