LPL Financial reviews

3.4

56% would recommend to a friend

(2,083 total reviews)
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Rich Steinmeier

66% approve of CEO

57% positive business outlook

LPL Financial has an employee rating of 3.4 out of 5 stars, based on 2,083 company reviews on Glassdoor which indicates that most employees have a good working experience there. The LPL Financial employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

2K reviews
1.0
Dec 6, 2015

Slave to the Shareholder Already

Recommend
CEO approval
Business Outlook

Pros

I've learned a lot at this company and we continue to navigate the waters in an environment of constant change. There's an effort to become an employer of choice, which is a noble cause - but many are wary that it's merely lip service and slight of hand for what lies beneath the surface.

Cons

These days it's just a matter of what shareholders will want next. Of course it's higher profitability - at any cost. Over the last few years, we've been forced to trim down budgets in just about every nook and cranny. Yes - it's wise to operate on a lean philosophy to a degree, but how much more can this budget be reduced. There is an underlying fear that one can be laid off at any time. One can say it's just trimming the fat, but it seems like the higher one moves in rank, the closer they are to being out the door. Politics has always been a problem at LPL, especially in the GRC area. If one leader doesn't like you, they're on a mission to get rid of you. One wrong move and it's career suicide. I thought bringing in Michelle O would change things, but she is still surrounded by old mentalities that continue to foster the wrong culture that LPL is trying to improve. Perhaps it will take more time. My advice to other employees: Get your licenses. Get familiar with as many systems as you can. Build your resume. You never know when the job will quit on you.

1.0
Jun 25, 2015

Just a mess!

Recommend
CEO approval
Business Outlook

Pros

Job is flexible. Pay is OK for the right jobs for senior guys.

Cons

Outsourced to INDIA your financial data!! Bad security as they all left. Most the good people that managed this complex IT environment were replaced by guys from INDIA that can't do anything not on their step by step sheet. Dumbest thing I have ever seen in my 17 years in IT. Senior management can't even tell the US retained org what their new role is. LPL will fail and get fined soon. Even the retained key people in IT are leaving.

1.0
May 8, 2015
Recommend
CEO approval
Business Outlook

Pros

Nice facility (gym, cafeteria and desks that go up and down to allow you to sit or stand). Decent benefits (401K, health, dental). Many nice people to work with.

Cons

Terrible, unfair pay for loyal employees. I have been in the Service Center for over 9 years and the new hires make nearly as much as I do under the new, improved compensation guidelines...LPL will not adjust the salaries of the long-term, loyal employee. The Service Center is integrating Monet workforce software which is indicative of a management that does not trust its employees...I can no longer go to the bathroom when I want and breaks & lunches are no longer consistently planned...I can only go to break or lunch if the software program indicates that call volume is at an acceptable level for me to go eat. "Bottom-line" mentality also manifests in rampant outsourcing which creates endless operational errors. Hugely inefficient processes. You must be married to a working spouse in order to make enough to live sufficiently

Viewing 40 - 42 of 2,083 Reviews

Glassdoor has 2,426 LPL Financial reviews submitted anonymously by LPL Financial employees. Read employee reviews and ratings on Glassdoor to decide if LPL Financial is right for you.