The most common and most likely answer to this crossword clue is the 14 letter word MIDDLE-AND-LEG
I've seen this crossword clue in Financial Times
M
I
D
D
L
E
-
A
N
D
-
L
E
G
Buddy explains!
The straight part
We know that "Lord’s guard" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lord’s guard = middle-and-leg.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.