212 Employee Reviews (View Most Recent)

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1 person found this helpful  

Mixed

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Analyst  in  Charlotte, NC
Current Employee - Analyst in Charlotte, NC

I have been working at LPL Financial full-time

Pros

Management is open to suggestions from employees and are approachable. Training opportunities to gain additional skill sets has been a focus over the last few years, due to employee feedback. Training is offered via various methods including virtual. Employee benefits have improved over the last several years.

Cons

Low paying salaries and nominal raises. Salaries are still not competitive in the marketplace Very limited growth and limited chances for advancement unless you are a friend with manager, a lot of favoritism. Most people that leave the company leave due to low pay, nominal raises, lak of advancement opportunities and frustrations over seeing people that are promoted in many cases due to friendships with managers. Many jobs going oversees and sourced out to consulting companies.

Advice to ManagementAdvice

Managers of staff should have people and management skills, as well as be good examples. Managers should conduct themselves in a professional manner at work and function related social unctions.

Doesn't Recommend
No opinion of CEO

Other Reviews for LPL Financial

  1. 4 people found this helpful  

    About to Outsource All Employees - Yet Management Travels by Private Jets

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - LPL Employee  in  New York, NY
    Current Employee - LPL Employee in New York, NY

    I have been working at LPL Financial full-time for more than 3 years

    Pros

    It's a paycheck for now

    Cons

    LPL Financial is at best a second rate financial services firm. They will always be behind Fidelity, JP Morgan, Morgan Stanley, Goldman and others. Always - and they act like it.
    CEO, Mark Casady, still expects his top tier management staff to attend marketing and other such conferences multiple times per year - this kind of thinking is from someone who hasn't realized that THAT IS NOT WHAT GREAT FINANCIAL SERVICES COMPANIES DO. Companies that are still trying to make a name for themselves, that are still climbing the financial services ladder do. This is one of the problems - Senior Management is still stuck in the past.
    Right at this very minute upper management are engaged in a meeting to discuss the imminent outsourcing of all employees - this is what they call their "successful" transition of everyone below AVP to being contractors. They're getting rid of all of their staff. Does a great company do that?
    I for one have been a loyal, hardworking employee and have put up with a lot of ridiculous ego and dysfunction from upper management. The very people who are determining that my livelihood is secondary are trying to pass off their money making decision to outsource as a "great and long term career move" for us staff members. Really? A lower salary and higher health insurance premiums and much higher health insurance deductibles are a better way for us to live?
    Delusional much?
    I know I'm not alone when I say that as soon as that message gets passed officially onto the employees I am out LPL Financial. Goodbye.

    Advice to ManagementAdvice

    Put more money back into the company by way of retaining quality staff and Mark, stop your backwards thinking by forcing upper management to attend ridiculous low rent marketing conferences. You seem oblivious to the fact that LPL is a publicly traded company and no longer needs to market itself to potential small potatoes investors. Come into the real world and stop lining your pockets on the backs of your employees. Everyone knows you're dying to retire. Why don't you do it right away so that someone with a clear and non delusional vision can step up to the plate?

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Decent Place but Good Ole Boy System in place

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Service Center Representative  in  San Diego, CA
    Former Employee - Service Center Representative in San Diego, CA

    I worked at LPL Financial full-time for more than 3 years

    Pros

    Compensation was in line with competitors. The hours were nice (much of that product of the industry). Decent medical benefits

    Cons

    Nepotism and the good old boy system run rampant. The company is very top heavy- Some AVPs were actually doing the roles of a front line manager.

    Advice to ManagementAdvice

    Clean the management ranks with the same willingness that the individual contributor ranks are cleaned.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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