Oct 27, 2014
LPL Financial reviews
3.4
57% would recommend to a friend
Rich Steinmeier
65% approve of CEO
58% positive business outlook
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2.0
Oct 26, 2014
Recommend
CEO approval
Business Outlook
Pros
Employees tend to get along well with one another. It's not what you know it's who you know. Decent pay and benefits.
Cons
Support from within. Departments from within are more often than not on different pages and their is a real disconnect between the San Diego Headquarters and the Charlotte, NC office. Changes in organization. What you do, even done well, is more often than not not rewarded. A mush mush squeeze everything out of you they can from management. Too many changes to feel comfortable or trust middle and upper management. The outsourcing threat is real and alive.
1.0
Oct 4, 2014
Recommend
CEO approval
Business Outlook
Pros
Good technology in ways, albeit 20% of client tax reporting has historically been incorrect. How do they possibly screw that up so badly? Concept of rotation ETF model trading is nice conceptually, but generally with fumbled mediocre results. I worked there only until I could find a better job.
Cons
Company acts all altruistic and evangelical, espousing unbiasedness and empowerment to their underlying advisors, but then they fee their advisors to death and take retrocessions from approved manager solutions. Is this really unbiased? Way too much emphasis on illiquid assets with high initial commission payouts (think BDCs and non-traded REITs). They generally have no vision that a bear market is even possible. Employees are not paid well by Wall Street standards, so LPL gets a dumber general level of average employee (most of whom think that they are smarter than they really are -- a dangerous situation). This firm is likely to blow clients up in a time of market stress.
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