214 Employee Reviews (View Most Recent)

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1 person found this helpful  

Not a bad place to start

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

I have been working at LPL Financial full-time for more than 5 years

Pros

A lot of friendly coworkers

Cons

You might be rotated to different teams often and it is hard to move up in the company.

Doesn't Recommend
Positive Outlook
Approves of CEO

Other Reviews for LPL Financial

  1. 6 people found this helpful  

    Decent place to work, depending on your department, and direct management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  San Diego, CA
    Current Employee - Anonymous Employee in San Diego, CA

    I have been working at LPL Financial full-time for more than 8 years

    Pros

    LPL has an above average 401K lineup, and the benefits are pretty good.
    It is a great place to build a base knowledge about the industry, and the potential for an upward career path.

    Cons

    It has been frustrating with the people that get promoted into Manager, AVP, and VP positions. Although they may have the technical knowledge, too many have almost no understanding of what it takes to be a great manager of people. At the same time, this may be because being a manager of people is an acquired skill, which takes not only time, but a desire to learn. And if there is no incentive to try to get the best out of your employees, eventually they become disengaged. Also, almost everyone seems to be paid below average for the industry, and raises for the majority are 2% per year. It takes an act of God to get more than this. Lastly, since the major outsourcing initiative was announced in February, which is still pending, the morale in the affected departments is noticeably low. All in the name of improved efficiency and expense management. But such is the world of capitalism.

    Advice to ManagementAdvice

    It will be interesting to see how you treat the employees who remain and don't get outsourced. The longer this environment exists, the more that good talented employees who have been with the company for a long time will be looking to leave. Also, giving a 2% raise for top performers that are in the middle of their comp ratio provides absolutely no incentive to work hard. You should revisit this, as it is quite the disincentive to get the most out of your employees.

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

    Temporary employee is not treated fairly

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at LPL Financial as a contractor

    Pros

    Some people there are friendly.

    Cons

    From my experience, temporary employee does not have any opportunities to learn, to do the real work. Temporary employees can finish all the work that are assigned to them without brain. The worse experience was, if the management did not have enough work for temporary employees to do, they just tell the recruiter to terminate the employment because the employee did not do the work. If the employee asked for work from them, and they did not give any. How could the employee do the work?!!!!!!

    The other thing was if the employee need some time off to take care of personal things. The management approve it. But later on, the management told the recruiter this employee did not work because they took too much time off. If the management is not ok with the time off, they can just do not approve it. The thing made me angry was I gave them notice ahead of time and received approval from the management. But two days after, they told my recruiter they were not ok with that.

    It is not fair to be given a "not-doing-the-work" hat just because of those.

    Doesn't Recommend
    Negative Outlook
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