LPL Financial - Decent Place but Good Ole Boy System in place | Glassdoor
There are newer employer reviews for LPL Financial
There are newer employer reviews for LPL Financial

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Helpful (2)

"Decent Place but Good Ole Boy System in place"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Service Center Representative in San Diego, CA
Former Employee - Service Center Representative in San Diego, CA
Doesn't Recommend
Neutral Outlook
No opinion of CEO

I worked at LPL Financial full-time (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 Management

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

Other Employee Reviews for LPL Financial

  1. Helpful (5)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - LPL Employee in New York, NY
    Current Employee - LPL Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at LPL Financial full-time (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 Management

    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?


  2. "Fasten your seatbelt"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in La Jolla, CA
    Current Employee - Anonymous Employee in La Jolla, CA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Fast paced, dynamic company, has a lot to offer many employees

    Cons

    Fast paced, dynamic company :)

    Advice to Management

    I would love to see centrally managed / coached career development program. This does not appear to be a strength of the average manager / employee.


There are newer employer reviews for LPL Financial
There are newer employer reviews for LPL Financial

See Most Recent

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