LPL Financial

  www.lpl.com
  www.lpl.com
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8 people found this helpful  

LPL Financial Ashamed of 'India'

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

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

Pros

Very diverse independent advisor presence in all 50 states. Recent better-then-expected financial results due to continued cost cutting with many jobs being eliminated in American and replaced by much lower caliber Indian citizens in Bangalore, India.

Cons

Strange and shady rules still prevail at LPL Financial. One glaring fact is that no employee is allowed to mention the word ‘India’ in any type of communication with LPL’s 13,000 independent advisors as if the company is either ashamed or is trying to keep tabs on the fact that many American-based jobs at LPL’s three main locations in Boston, Charlotte and San Diego have already been eliminated by LPL’s management and replaced by much cheaper and much lower caliber non-American staff in Bangalore, India. The trend of eliminating American-based jobs will continue at LPL throughout 2014 and beyond. LPL officially refers to that as ‘offshoring’ with absolutely no mention of any third world country. Mentioning the word ‘India’ is a big no-no throughout the company! How silly and childish! CEO Casady loves to take the stage whether at the annual advisor conference or at employee meetings and sugar coat major upcoming challenges at LPL and quickly glide over them. It’s time for him to go! The sad fact is that LPL Financial, known for having independent advisors in all-American small and medium size towns from Florida to Alaska, has been aggressively hiring hard-to-understand-heavy-accent Indian employees to handle very highly sensitive and confidential American client and advisor information such as financial accounts, social security numbers and firing their American employees! How patriotic of LPL! Shame on LPL’s board of director and senior management for being so shortsighted, greedy and callus. At a time where many American companies realized their long-term losses for shipping so many jobs to China, India and the Philippines over the last 10-plus years and have been reversing the trend by hiring again in America, LPL Financial seems to be so behind on this failed trend and insists on creating chaos and ill will and taking very high risks in identity and data theft of hundreds of thousands of US-based financial accounts for mom-and-pop investors of Main Street small towns America and practically handing that over to Bangalore, India. How sad and stupid of LPL! And above all, how un-American!

Advice to ManagementAdvice

Either fully embrace shipping American-based jobs, sensitive data and highly confidential information of American clients and advisors to India and stop being so secretive about is or 'get off the pot' as they say.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

238 Other Employee Reviews for LPL Financial (View Most Recent)

Sort: Rating Date
  1.  

    Wonderful so far.

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

    I have been working at LPL Financial full-time (less than an year)

    Pros

    Salary, benefits, people and culture.

    Cons

    Don't have any at this time.

    Advice to ManagementAdvice

    None yet

    Recommends
    Neutral Outlook
    No opinion of CEO
  2. 3 people found this helpful  

    Good, not bad, not great.

    • 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 (more than 3 years)

    Pros

    Cool people, relaxed atmosphere, nice location.

    Cons

    Low pay for the work that I do plus the benefits are not great. "Management" is for the most part, hired from within. Most of the management have no experience managing which makes working for them difficult, to say the least.

    Advice to ManagementAdvice

    Make telecommuting available to more employees. If my manager can work from home, why can't I??

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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