LPL Financial reviews

Too many know nothing managers better suited for retail than a brokerage firm. Promotional opportunities are far and few between; awarded to the best connected rather than the most competent. Compensation is for the most part based on seniority and not ability. Someone having spent a decade in the same job, performing the same menial tasks will make more than an individual performing the duties of two people and engaging in more challenging activities because they're one of the few people competent enough to do it. Staffing levels are slim resulting in overworked, stressed, and employees eager to leave the company should the opportunity arise. Outsourcing to india compounded many of these issues. Upper management badly miscalculated what they were capable of and the advisors are paying for it with delays, reduced quality, and irritated clients.The indian partners dropped the ball right out of the starting gate and cant seem to hold on to it long enough to justify their role outside of the gains being made in reduced payroll costs which have been cancelled out by liabilities/losses incurred by them. The qualititve costs are far worse

The main cons are just a part of working for a broker/dealer and the applicable FINRA rules. Such as compliance audits, outside business approval, continuing education, and dealer fees.