LPL Financial Reviews | Glassdoor

LPL Financial Reviews

Updated April 19, 2017
489 reviews

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Pros
Cons
  • Drive home takes forever but its San Diego so what do you expect (in 14 reviews)

  • Even Upper Management gets disgusted with the way this area is run (in 14 reviews)

More Pros and Cons

  1. Helpful (2)

    "8 years and mixed emotions"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Compliance Analyst in San Diego, CA
    Current Employee - Compliance Analyst in San Diego, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great clean new building located in UTC San Diego Area. Features a cafe, Starbucks (proudly serving), electric car charging stations via Sema Connect, fitness center, health clinic and more.

    Cons

    Work environment has went from pleasant with steady work to super micromanaged. Every minute is accounted for. Most jobs have been running in the "red line" of speed and work load for years and this is the new normal so it has become expected. Hired for one department needs and duties turns into six to save on overhead. It's hard to change jobs inside the company unless you take a lessor position with a pay cut. They tend to fill positions at entry level. Moving up in the company is especially difficult. Experienced and hard working no longer means what it used to. You must become best friends with your boss in order to move up. Because of this, I have seen a entry level person promoted quickly that still has no idea what they are doing.

    Advice to Management

    Please stop coming on board to LPL to change things for the worse just to add an achievement to your resume in order to meet your goal requirements and then quit and move into the next company. This has happen time and time again over the years I have been working for LPL and it has left the company in ruins.


  2. "Senior Regional Director, Business Development"

    Star Star Star Star Star
    Current Employee - Senior Regional Director in Charlotte, NC
    Current Employee - Senior Regional Director in Charlotte, NC

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

    Pros

    Great firm, great benefits, great culture, excellent exposure to Csuite.

    Cons

    public company and some degree of red tape, as to be expected.

    Advice to Management

    Keep up the good work


  3. ""Former LPL Financial Employee""

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Former LPL Financial Employee in San Diego, CA
    Former Employee - Former LPL Financial Employee in San Diego, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at LPL Financial full-time (More than 8 years)

    Pros

    Strong leadership, Excellent Management team. The new building is elegant with the latest amenities, good pay, great benefits, and family friendly culture, the environment is welcoming, and enjoyable to come to work every day.

    Cons

    Sadly Off shoring by far most of the departments in the entire building.

    Advice to Management

    Treat your employees equally, and continue to make them feel like they are part if the team.


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  5. "General review"

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

    I worked at LPL Financial (More than 10 years)

    Pros

    Lpl is a friendly company company to work for. I have been an employee for 16 years and met some great people who have become like family.

    Cons

    Many company have had to make drastic changes in this environment and they too have had to make those changes to stay afloat.

    Advice to Management

    Continue to treat your employees fairly, and make them feel like they are part if the team.


  6. "Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA

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

    Pros

    Attractive value offering for advisors looking to go independent.

    Cons

    Success requires significant self direction.


  7. "Marketing VP"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President Marketing in San Diego, CA
    Former Employee - Vice President Marketing in San Diego, CA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Great people and fantastic clients to work with. The new building is amazing with many benefits including a gym, cafeteria and Starbucks. The offices all have a lot of natural light and are very easy to work in. They also have The movable desks so you can either sit or stand while working.

    Cons

    Sometimes there is too much management by committee and this slow things down. By allowing the teams to make many of their own decisions the work can be delivered faster.

    Advice to Management

    Trust your folks to make good decisions.


  8. "Independent Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Chicago, IL
    Current Employee - Financial Advisor in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Complete Autonomy as FA.
    Excellent Payout starting at 90%

    Cons

    Every expense associated with owning your own business falls on the Advisor. Part of being a business owner.
    Must find your own health insurance plan.

    Advice to Management

    Be transparent about the costs.


  9. Helpful (6)

    "In 10 plus years in this industry, 4th financial service firm I've worked for and it's the worst place I've worked."

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

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

    Pros

    I currently do have any at this time. I guess it's a pro if you come from outside of LPL because they will pay you more.

    Cons

    Don't stay here long. You'll be overworked, underpaid, under-appreciated and then you'll watch someone come in with the same title, with little experience, no drive, "clock-puncher" and find out they make $7-10k more than you.

    LPL is a corporation who has stockholders, their mission is for the betterment of their stockholders, which is understandable. Over the years, I've seen completely incapable people in major decision making roles with no obvious repercussion when they put the firm at risk for (or actual) regulatory fines. Then at the same time LPL makes a decision to offshore a large chunk of operations including parts of departments I feel should never belong belong outside of the US. I also don't understand how they made the individual decision to lay certain people off, it screams of agism. I wish those people the best but I would imagine that it's quite difficult to find a new position when you're in your early 60's and you work in an operation role. At the time I thought that maybe it was just a fluke but as we transition thru another layoff (3rd that I've seen in less than 6 years although there have been more in additional departments) while they move more of operations to the SC office, I've seen the oldest people on the impacted list. Plus, again I don't know how they made their decisions to cut certain people. Many of whom have incredible knowledge of this industry and of the positions that they were in. It won't be a smooth transition especially since they are letting go the "best and the brightest" while leaving the incompetent leadership to lead departments they don't understand. And to add salt in the wound, it was pretty obvious that while they were laying off people some lower leveled management were promoted so that they wouldn't be impacted by the layoffs. LPL has no heart for their employees but at least we have free soda and a new building. Cheers, great job LPL!

    Advice to Management

    See above.


  10. "Retirement Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retirement Consultant in Fort Mill, SC
    Current Employee - Retirement Consultant in Fort Mill, SC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Access to LPL's resources and modern facility with plenty of nice perks.

    RTO (routine time off) seems like a plus as long as your managers are flexible.

    Cons

    Disorganized department without management direction. Little to no training - trial by fire environment. The feeling of redundancy as Record Keepers have similar discussions with Participants regardless of our relationship. Partners and Participants don't understand who we are. This creates constant confusion for Participants, Record Keepers, and team members alike. Current advice options aren't well scalable.

    Zero interdepartmental transparency. Anti-social environment where most people refuse to make eye contact. Genuinely feels like a depressed place that got a new coat of paint.

    Advice to Management

    Take the fragmented departments and consolidate into broader categories. Develop an initial onboarding period that spans days or weeks, not hours.


  11. "Assistant Vice President"

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

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

    Pros

    Work life balance for my role

    Cons

    Career advancement is limited in certain groups, Salary lower than average



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