Independent Financial Advisor - Financial Advisor LPL Financial Employee Review

5.0
Dec 6, 2009
Recommend
CEO approval
Business Outlook

Pros

A good place to work if you have a fee-based book of business. Payout starts at 90% if you have your Series 24 and goes up from there. LPL has a vast variety of products to offer your clients and a fee-based platform to manage the accounts your own way. LPL has also started some centrally managed accounts where the Research Dept picks the fund allocation and manages the model for you. This costs you roughly an extra 0.30%, but saves you a lot of time and allows you to prospect for more business.

Cons

As a 1099 independent contractor, there are no additional benefits. You are on your own for health insurance and retirement savings and office leases. However, if your book generates enough recurring revenue, when you get a 90%+ payout, you can afford to pay for some of these things yourself.

Explore other reviews about LPL Financial

5.0
May 27, 2026
Recommend
CEO approval
Business Outlook

Pros

I loved my internship here. It was very immersive and everyone was very kind and supportive. Loved the team I worked with.

Cons

Could have been a bit more to do.

2.0
May 23, 2026
Recommend
CEO approval
Business Outlook

Pros

LPL Financial offers a flexible hybrid work model, which is one of the better aspects of the company. Managers are generally not overly strict about specific in-office days, giving employees some flexibility in managing their schedules.

Cons

Work-life balance is a major challenge. Weekend release work is common, often averaging two weekends per month, yet there is no overtime compensation. Employees are essentially expected to work a full workweek plus weekends when needed, which has contributed to high turnover on some teams. The culture can also feel harsh and impersonal. Leadership rarely expresses appreciation or recognition for employee contributions, which negatively impacts morale. Some managers come across as cold or overly task-focused, creating an environment where employees feel valued only for output rather than as people. There also appears to be a lack of trust between employees and leadership. Many teammates do not seem confident that leadership understands or genuinely addresses their concerns. Overall, morale feels low, and recognition for strong performance appears limited.

2
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