LPL Financial reviews

Ridiculous amounts of overtime. 60 hour work weeks. Low Morale, Poor Leadership , EVP only cares about herself at the expense of her Examiners. Has that I only love myself attitude. Arrogant and no management skills. All people reporting to her loath her. A mass exodus of good people. No pay raise in 4 years and annual bonus are shaved by 2 percent..with no reason. Don't take the abuse...run far away from this company. CEO has no clue what going on with his employees and he really doesn't care. Top management promotions are very frustrating because they love to broadcast to the whole company how awesome they are.

I've been here over 10 years and thinking about leaving. I used to love it here, now in the past year or so, I struggle to go to work in the morning. More micromanagement from the higher ups that have no knowledge of the job I've done since the beginning of my employment here. No management asking for input from senior employees, just changes made on assumptions. Even when asked for input, you are shrugged off and changes that you have told won't work, are implemented and ultimately fail. Advisors are frustrated with the service center, guess what, the rest of the back office are frustrated with the service center. They have turned into blind transferring machines. If they don't know the answer they seem to play phone extension roulette. I don't talk to advisors but I'll get pissed off advisors transfered to me and I can't help them. I love dealing with angry people...... It's obvious new employees in service center are just hired to fill a seat so the company can make production numbers. They constantly talk about breaking down silos. There were little to no "silos" ten years ago. Now it's every department for themselves. No one takes responsibility for anything and hold grudges against other departments. The more upper management talks about breaking down silos, the worse it gets. Pay is low, bonuses are low. The only thing I am impressed with is our 401k matching. Don't believe what the head of HR denies. People always leave LPL and come back so they can get paid more. They have gutted our health insurance and I'm afraid of needing surgery or getting sick. When we complained we got "this is how our competitors are" not a good response. They magically stopped calling themselves an "employer of choice" In the years I've worked there I have never seen such an employee turn over. Managers lie about the job people are applying for and then, oops you need to do this thing that, if you knew it was part of the job, you wouldn't have taken it. People have quit within days of starting because of this. No support from management. I'm sick of being told I'm doing an awesome job and getting nothing in return except a pat on the head. There are only so many pats on the head one can take. They have no support for employees to take securities exams. They used to, once in a while, but seem to have forgotten that a lot of positions require you to get a license and have since stopped. They just buy you a book and hope you pass (and for some exams you can be fired if you fail). I would not recommend anyone work for this company. I apologize to the advisors who need to deal with their horrible customer service but until the morale is fixed, the "silos" are broken down, and employees are properly trained, it's going to get worse. Also, they seriously need to update the systems that we use to maintain accounts. It's like working in the early 90s. In fact I worked for companies in the 90s that had better technology than LPL. Tell me why I can't fax from my computer?