LPL Financial reviews

3.4

56% would recommend to a friend

(556 total reviews)
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Rich Steinmeier

65% approve of CEO

57% positive business outlook

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556 reviews

Reviews about "Compensation"

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3.0
Dec 24, 2024
Recommend
CEO approval
Business Outlook

Pros

Awesome team members, great business opportunities for continued growth, new CEO seems to have the right intent, but he is trusting people who are not giving him the right info or advice.

Cons

New CHRO has created a culture that does not care about people, impossible to dissent, very tactical work, no real pwople strategy, very hard work with zero recognition, compensation is below market, yet the keep cutting: eg. When they run out of things to cut or costs to raise, they most recently eliminated the mobile reimbursement which was already low from prior cuts ( at $20). They assume people will use their own phones, while working very long hours, without any recognition and lousy salary increases that are consistently and significantly below market. Yet, there is such a culture of not speaking truth to power, and the new CHRO is so incompetent and only concerned about self preservation, that no one speaks truth to LT. There are no career growth opportunities. Culture of hiring externally, even though they should have realized by now that that strategy does not work as proven by the number of senior leaders they later turned over the years

1.0
Dec 18, 2024
Recommend
CEO approval
Business Outlook

Pros

The company offers competitive compensation and benefits. Flexible work options for some roles.

Cons

Leadership Concerns: Senior Vice Presidents (SVPs) and Executive Vice Presidents (EVPs) prioritize personal alliances, fostering a culture of favoritism. Toxic Environment: The EPMO is plagued by "mean girl" cliques, who are protected and rewarded regardless of their divisive and toxic behavior. Favoritism Toward Contractors: Contractors are often treated better than full-time employees, receiving preferential treatment in workload, recognition, and sometimes opportunities. Lack of Transparency: Abrupt layoffs with minimal communication erode trust, leaving employees blindsided. Workplace Politics: Hardworking employees are often overlooked or dismissed, while toxic individuals and contractors aligned with leadership are shielded and rewarded. Erosion of Morale: Promises of stability and fairness from leadership often contradict their actions, creating widespread frustration and dissatisfaction.

1.0
Dec 17, 2024
Recommend
CEO approval
Business Outlook

Pros

They pay on time. There are good people- just don’t be smart.

Cons

If you go to HR at LPL Financial, prepare to be targeted. HR is 100% there to protect the EVP and SVP leadership, showing extreme bias and prioritizing their own job security over doing what’s right for employees or the company. They only play favorites, making decisions based on their inner circle rather than what’s best for the organization. Whistleblowers are not protected here—if you speak up, you’ll be released. LPL Financial markets itself as an innovative and Agile organization, but my experience revealed a very different reality. Leadership at the SVP and EVP levels fosters a culture of favoritism, retaliation, and unethical behavior. If you bring up concerns or challenge the status quo, expect retaliation. HR will not support you; instead, they will protect lawbreaking and unethical practices at the leadership level. Leadership seems more focused on maintaining a dictatorship than fostering a true Agile environment. Agile is nothing more than a buzzword here, not a value system they follow. This is not a high-performing environment; it’s a cliquish one where politics and self-preservation matter more than innovation or results. Unless you’re willing to stay silent about wrongdoing, this is not a safe or supportive place to work. Proceed with caution.

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