LPL Financial Reviews | Glassdoor

LPL Financial Reviews

Updated July 15, 2018
593 reviews

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LPL Financial CEO Dan Arnold
Dan Arnold
58 Ratings

593 Employee Reviews

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  1. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Las Vegas, NV
    Current Employee - Anonymous Employee in Las Vegas, NV
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at LPL Financial full-time (More than 10 years)

    Pros

    Flexibility and High reward

    Cons

    Commission Based Compensation/ Regulation


  2. "Sales Assistant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - FLORIDA
    Former Employee - FLORIDA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at LPL Financial full-time (More than 5 years)

    Pros

    They have the resources, the payout.

    Cons

    He said she said back office

    Advice to Management

    Get competent backoffice

  3. Helpful (1)

    "Treat employees better"

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

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

    Pros

    Nice building and nice gym

    Cons

    There is a lot of micromanagement at this company. They don’t understand that treating employees leads to greater success. You will get occasional pats on the back and a potluck. But besides that don’t expect anything more for your hard work. LPL says there trying to move away from the metrics system, but that is false management will count you accountable for your stats. Energy in the office always feels negative, you can tell many people don’t seem to enjoy there job.

    Advice to Management

    Start treating your employees better if you want to actually change company culture.


  4. Helpful (1)

    "Corporate Values or Corporate salary"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Specialist in San Diego, CA
    Current Employee - Operations Specialist in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at LPL Financial full-time (More than 10 years)

    Pros

    Environmentally conscious building, cafe , gym and most of all the talented and wonderful employees i work with

    Cons

    I work for this company for such a long time and it's sad to say that the corporate value they want us to follow to make the advisor's on the field happy is making all the employees work hard for nothing. Management under the service center always looks for good numbers.....what number are you all looking for? You all forgotten the people that works hard and all you care are numbers. Employees are not treated as a number, they should be treated as a person who wants to survive and get paid well because they value the work they do. Senior management needs to wake up and look after your employees. Value there talent and pay them what they are worth for. You all worry about your $100k salaries and your bonuses and giving us free lunch does not cut it.

    Advice to Management

    You all need to wake and be a people person. Hoping that when you all wake up that you still have some employees, good employees working for you.


  5. "Excellent place to work if managers are supportive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate Analyst in San Diego, CA
    Former Employee - Associate Analyst in San Diego, CA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Outstanding facilities
    Driven co-workers
    Many opportunities to learn

    Cons

    Difficult to get promoted from the associate level
    Depending on what department you are in, flexibility and autonomy varies

    Advice to Management

    Reward those who make your jobs easier by noticing when promotions are deserved.


  6. Helpful (1)

    "Silos"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous in Fort Mill, SC
    Current Employee - Anonymous in Fort Mill, SC
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at LPL Financial full-time (Less than a year)

    Pros

    Gorgeous campus, 24-hour gym, decent pay

    Cons

    Major silos between departments, too many people doing the same thing leading to confusion, wasted time and money, territorialism and distrust

    Advice to Management

    Put some structure in place so that departments aren't doing the same thing, and actively work to break down silos


  7. Helpful (8)

    "Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at LPL Financial full-time (More than 10 years)

    Pros

    Coffee
    Cafeteria
    Air conditioning
    Co workers for the most part

    Cons

    I've been here over 10 years and thinking about leaving. I used to love it here, now in the past year or so, I struggle to go to work in the morning. More micromanagement from the higher ups that have no knowledge of the job I've done since the beginning of my employment here. No management asking for input from senior employees, just changes made on assumptions.
    Even when asked for input, you are shrugged off and changes that you have told won't work, are implemented and ultimately fail. 
    Advisors are frustrated with the service center, guess what, the rest of the back office are frustrated with the service center. They have turned into blind transferring machines. If they don't know the answer they seem to play phone extension roulette. I don't talk to advisors but I'll get pissed off advisors transfered to me and I can't help them. I love dealing with angry people...... It's obvious new employees in service center are just hired to fill a seat so the company can make production numbers. 
    They constantly talk about breaking down silos. There were little to no "silos" ten years ago. Now it's every department for themselves. No one takes responsibility for anything and hold grudges against other departments. The more upper management talks about breaking down silos, the worse it gets. 
    Pay is low, bonuses are low. The only thing I am impressed with is our 401k matching.
    Don't believe what the head of HR denies. People always leave LPL and come back so they can get paid more.
    They have gutted our health insurance and I'm afraid of needing surgery or getting sick. When we complained we got "this is how our competitors are" not a good response.
    They magically stopped calling themselves an "employer of choice" 
    In the years I've worked there I have never seen such an employee turn over. Managers lie about the job people are applying for and then, oops you need to do this thing that, if you knew it was part of the job, you wouldn't have taken it. People have quit within days of starting because of this. 
    No support from management. I'm sick of being told I'm doing an awesome job and getting nothing in return except a pat on the head. There are only so many pats on the head one can take. 
    They have no support for employees to take securities exams. They used to, once in a while, but seem to have forgotten that a lot of positions require you to get a license and have since stopped. They just buy you a book and hope you pass (and for some exams you can be fired if you fail). 
    I would not recommend anyone work for this company. I apologize to the advisors who need to deal with their horrible customer service but until the morale is fixed, the "silos" are broken down, and employees are properly trained, it's going to get worse. 
    Also, they seriously need to update the systems that we use to maintain accounts. It's like working in the early 90s. In fact I worked for companies in the 90s that had better technology than LPL. Tell me why I can't fax from my computer?

    Advice to Management

    You have forgotten about your back office employees. Wake up, it's effecting your advisors. Provide better technology, train your managers better. What you're doing is not working.

  8. "LPL Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Sustained Industry leader; continuously growing company; great opportunities for diversity groups; great focus on end Advisors/customers;

    Cons

    Limited career growth opportunity for certain groups of people; limited executive incentive packages; continuously and systemically under resourced; dense culture that is hard to change.

    Advice to Management

    Increase salary competitiveness to include stock options; show greater loyalty to loyal employees; increase training and coaching in leadership.


  9. Helpful (2)

    "Branch Exams- Over Worked under Paid"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Remote employees, Con out weight everything.

    Cons

    Ridiculous amounts of overtime. 60 hour work weeks. Low Morale, Poor Leadership , EVP only cares about herself at the expense of her Examiners. Has that I only love myself attitude. Arrogant and no management skills. All people reporting to her loath her. A mass exodus of good people. No pay raise in 4 years and annual bonus are shaved by 2 percent..with no reason. Don't take the abuse...run far away from this company. CEO has no clue what going on with his employees and he really doesn't care. Top management promotions are very frustrating because they love to broadcast to the whole company how awesome they are.

    Advice to Management

    They will finally figure it out when all the good people have left and you will have only your AVPs and VPs. as your work forced. Very top heavy management. No promotions and plenty of broken promises. Get some leadership and management training. This company is doomed.


  10. "Senior Service Center Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Service Center Representative in Fort Mill, SC
    Former Employee - Senior Service Center Representative in Fort Mill, SC
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at LPL Financial full-time (More than a year)

    Pros

    Great atmosphere, great culture, great people. Depending on which service team you're on and who your manager is, you may have periodic outings, birthday celebrations, or catered lunches.

    Cons

    Being in the service center has quite a bit of stress especially with all the change that LPL is undergoing...an acquisition and change in technology platform for the advisors. Quite a lot of complaining and unrealistic expectations from upper management. Once you're in the service center, it's very difficult to get out.


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