LPL Financial Reviews

Updated August 28, 2015
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308 Employee Reviews

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  1. Processer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operation Specialist in San Diego, CA
    Current Employee - Operation Specialist in San Diego, CA
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at LPL Financial full-time

    Pros

    Great company. Very laid back and great managers.

    Cons

    The work can become mind numbing.

    Advice to Management

    Require college degrees


  2. Secretary

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Secretary in Newark, NJ
    Former Employee - Secretary in Newark, NJ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at LPL Financial part-time (Less than a year)

    Pros

    Great pay, nice people, easy work for the money, good hours. I enjoyed this job.

    Cons

    Was made to feel like a gopher. Underappreciated by senior management. Wish there were more opportunities for advancement.

    Advice to Management

    Wish the senior management could have been honest when cutting hours. Made to feel small by senior management. Please don't hesitate to be honest with employees.


  3. Helpful (3)

    Management Listens but doesn't hear!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Diego, CA
    Former Employee - Anonymous Employee in San Diego, CA
    Neutral Outlook
    No opinion of CEO

    I worked at LPL Financial full-time (More than 10 years)

    Pros

    Great benefits. Excellent working environment Nice people (staff) to work with.

    Cons

    Poor salaries. Upper management says all the right thing but doesn't implement them effectively. They listen but don't hear their staff members.

    Advice to Management

    Take your blinkers off!! Have a survey (your favorite!) about what your staff honestly think about the various (overcrowded) levels of management. Sit on the floor, I don't want you to hurt yourselves when you fall off your high horse.


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  5. financial advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Montrose, CO
    Former Employee - Financial Advisor in Montrose, CO
    Recommends
    Neutral Outlook

    I worked at LPL Financial full-time (More than 3 years)

    Pros

    high commissions, flexible hours lots of training

    Cons

    long hours hard to dig up leads


  6. Helpful (1)

    Technology Based Firm

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Support Specialist in Providence, RI
    Current Employee - Operations Support Specialist in Providence, RI
    Doesn't Recommend
    Positive Outlook

    I have been working at LPL Financial full-time (More than 3 years)

    Pros

    Cutting edge for technology integration to improve client experience.

    Cons

    Lack training for advisor support personnel

    Advice to Management

    Increase training opportunities as well as cahnces to move up.


  7. Retirement Consultant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Negative Outlook
    Approves of CEO

    Pros

    Good team environment, challenging work, competitive pay and benefits

    Cons

    Easy to burn out quickly, always putting out fires.

    Advice to Management

    do a better job of matching sales goals to actual expectations of the position


  8. Helpful (2)

    shinking ship

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Boston, MA
    Current Employee - Anonymous Employee in Boston, MA
    Doesn't Recommend
    Negative Outlook

    I have been working at LPL Financial full-time (More than 5 years)

    Pros

    Good work life balance.

    Cons

    No clear direction or actions that support growth and professional development.

    Advice to Management

    Hire more people,


  9. Helpful (3)

    Steping stone

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Analyst in San Diego, CA
    Former Employee - Operations Analyst in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    -"New" Building: the building and work environment is great. The building is new and has all the amenities you need. It's like a work campus. Cafeteria, gym, nurse's office, arcade room, lounge, basketball, outdoor games, etc. Cafeteria is overpriced for bad food though. -Benefits: GREAT benefits, very competitive. Lots of vacation hours, after 3 years you get like 21/23 days of vacation, health plans are great low priced, matching is awesome-good 401k, VTO, birthday day off. Benefits are far better than any other financial company in SD. Stock options, stock options rewards to employees (most employees that get it are lifers (8+yrs) -Few good people: I had the luck of working for a really good manager. She helped me achieve my goals and motivated me and took me to the next level. She was a rare case. But her manager wasn’t that great or other managers in different departments. The newer faces are a breath of fresh air. I made some really good friends here. -Events: they have cool events such as health fair, Halloween celebration, and departmental events such as Holiday Party. -Bonuses: Everybody gets a bonus no matter what position you’re at and it starts at 5.5%. If you are a good hardworking employee and your manager likes you, you can potentially receive a good bonus! They also have yearly inflation raises. Even with this the pay is still low compared to industry standards. But if you are in management level, your paycheck is fat and your bonus is starts at 9%. -Good stepping stone. If you have no experience in the financial industry LPL will be a good stepping stone. Use it and leave it. Once you get your experience it’s not worth it to stay there.

    Cons

    -Management: Management are arrogant and a big joke and think they rule the world and think they are so important that they do not talk to their "lower staff" but really they do not know how to manage their employees. They are horrible managers; many are inexperience and only got to where they are because they know someone. Not the brightest batch. Many are hired with NO experience, it's ALL politics. They do not know how to value their most hardworking and brightest employees. The brightest and best leaves to other companies bc LPL management doesn't know employee retention. Promotions are given to people who don't deserve it (like I said, it's all politics and you have to know somebody). -Advancement: It's extremely hard to move into management roles (unless you know somebody) No matter how much knowledge, hardworking, work ethics, licenses you have it's all about kissing up. You do that well you'll do well here. Also the compliance/GRC group is a big joke. They do not supervise or properly -Employees: you have the lifers who think they are entitled to everything. They've been working here for "10 + years" and "did their time" so they think you should respect them and/or they don't respect you, especially new younger Millennials generation. It's a changing industry get your head out of your behind and get with the times! Things are changing for the good and deal with the innovation and new thinking. Also you have SOOO many lifers that are lazy and they've been doing the same thing for the last 10 years. No motivation, 9-5 job, only there to get a paycheck. No dreams, no motivation, no goals, you come here to die if you stay that long. Your life is drained out of you like those people. Also intercommunication- no other departments like taking the accountability of anything. They never respond or follow up. Always a roadblock in communication. -Pay: If you started as a temp and made your way to permanent you will get pay lower than industry average. They take advantage of you that way saying that because they bought out your temp contract they'll pay you $2-4 dollars per hour LESS. Pay is ONLY good if you are in management level AND/OR you leave the company then come back. Other than that I left LPL and got paid more than the same position there. They reward the higher ups and give financial advisors lavish vacations or what they call “conference” with masters and summit and gifts and everything and take no investment in their employees. They also pay a lot of fees to FINRA due to their lack of compliance/supervision. That money can help increase pay for employees since they really under pay you here. -Licenses: they do not sponsor you nor/or let you sign a promissory note for repayment if you fail or leave once you pass. They do not encourage employees to seek knowledge. They stop you at your licenses. They have a program that allows 30-40 people from the whole firm to opportunity to take your licenses but it's not for everyone and HARD to get in. -Environment: LPL is basically "LPLMATCH.COM" everyone sleeps with each other here. It's like a big pool of polygamous dating. Everyone dates each other, all the males and females are on the lookout for a mate. I get it, it's work and you spend most of your days here, but the guys can be dogs. You hear about that one guy that got around or that girl that got around. -Professionalism: LPL is very unprofessional. The dress code is casual (which is good) but some people take advantage of it and dress like frat bros or street walkers with 5 inch heels. Image of the people in operations are horrible. They are the worst offenders of the dress codes. I've seen PJ pants, yoga pants, crocs, slippers, double collar shirts, low cut shirts to fully expose breast, miniskirts, see-through shirts, etc. Very unprofessional work environment. -Ever since they went public, they've been going down hill -Offshoring: they are horrible. Tons of mistakes, ended up creating a dept to QC their work. They do not understand the industry and they do it for pay. They don't care and don't understand the process. Advisors blame you for their mistakes, management blames you. There's no way around bad work that they provide.

    Advice to Management

    Employee Retention: keep the good ones by better pay and incentives. Advancement: Stop promoting unknowledgeable managers just because they know somebody Licenses: Promote advancement through licensing, give employees opportunity to take any licenses with a promissory note to repay Pay: Stop paying management so much for doing nothing. There's too many VPs, AVPs, SVP, EVP. Cut down senior management.


  10. Great place to work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern
    Former Employee - Intern

    Pros

    Flexible hours, and access to senior members of the firm provided for a great learning experience as an intern.

    Cons

    Experience varies dramatically depending on what office you work at.


  11. Financial Advisor

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook

    Pros

    Independent, make your own hours.

    Cons

    No real training, you must have a background of the financial professional and business entreprenerial before entering this business.

    Advice to Management

    Please train the trainers



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