LPL Financial reviews

-Lay offs are common in SD within Operations as it is getting moved aggressively to South Carolina; with most of the promotions and positions going with it. (If you are internal just look at the most recent round of promotions. Individuals who couldn't pass the S7 or S24 are being promoted to leadership positions in FM). -Senior Leadership is spineless and has no idea how to manage with other business units. It doesn't help that the largest business unit has a handful of SVPs/EVPs while the other units give the titles out like they are candy. -Inconsistent messaging around layoffs. 100+ people in SD were given notice then "just kidding" 2 weeks before their term date and they magically had a job again despite what plans the employee made. -Long term the industry is in some trouble as fee compression is real and LPL's cut continues to get smaller. Look at the number of "Robo advisers" that can do the work of 80% of the advisers out there for less than half the fee to the client. - A good amount of key systems are 10+ years old built on an architecture that doesn't exist anymore.

Company used to preach a work life balance and employee engagement, but that has been eliminated. The department is now run like a dictatorship. The micro management is completely overwhelming!!!!! If you don't respond to an email within 30 seconds your phone and internal communication tool will start ringing. The amount of stress thrust on staff due to inadequate personnel is also mind boggling. More recently older staff were 'laid off " while younger staff were relocated to a new corporate office on the East Coast. You are expected to do the job of 3 people and not complain. If you speak up you will be fired. No wonder a majority of staff is actively seeking new employment.