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Manager, Commissions and BDSS

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Manager, Commissions and BDSS  in  San Diego, CA
Former Employee - Manager, Commissions and BDSS in San Diego, CA

I worked at LPL Financial full-time for more than 5 years

Pros

Decent PTO policy. Good online courses and in-person training. Growing name in the industry that is commanding the attention of many Mutual Funds and Annuity companies.

Cons

Terrible compensation. Most file-and-rank employees under VP level average the work of 1.5 to 2 employees since Senior Management keeps on adding more and more new advisors like drunken sailors! Almost impossible to get a full week off as a vaction if you are VP rank. You'll be made to feel very guilty about that over and over! Watch out for bank and 'institutional' advisors; very slick and always looking to bend the rules. More than likely will cause a major legal and/or PR nightmare for LPL in the near future. Way too many VPs at LPL with hardly any work fr them to do! 80% of the work is done by rank-and-file. No meaningful promotions unless you are very well connected on the inside. Very, very few minorities are welcome here!

Advice to ManagementAdvice

Stop adding advisors left and right! You do not have the back office resources to fully and adequately service all these advisors with their endless needs. GRC folks: Keep a close eye on your bank advisors! They can get LPL in a PR nightmare if they are left to their own devices. Much lower caliber and sofistication and understanding of the markets than their independent counterparts.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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