LPL Financial reviews

3.4

55% would recommend to a friend

(2,094 total reviews)
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Rich Steinmeier

66% approve of CEO

56% positive business outlook

LPL Financial has an employee rating of 3.4 out of 5 stars, based on 2,094 company reviews on Glassdoor which indicates that most employees have a good working experience there. The LPL Financial employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

2K reviews
3.0
Oct 28, 2024
Recommend
CEO approval
Business Outlook

Pros

1. They do their best to offer a variety of benefits. 2. They talk a lot about a culture of inclusion and respect and a lot of other things. They say a lot of the right things. 3. They have the ability to adapt to new circumstances. For instance, they got the equipment and plans in place for thousands of employees to go full remote in the span of 2 weeks when lockdown started in 2020. 4. It's possible to move between departments or get promoted. The managers are willing to help you rather than holding you back as happens at some companies. 5. They're generally good at finding quality people to work there. There aren't all that many managers or team members that are toxic to the work environment. There are definitely exceptions but overall the groups of people tend to be solid.

Cons

1. The benefits they offer are at the expense of salaries. 2. They say the right things but there have been indications that they don't actually believe in what they're proclaiming, especially in certain key areas of company culture. 3. They can adapt but there's a lot of regression and insistence on doing things "the way they've always been done" or "the way everybody else does" rather than welcoming the change that makes the company better. 4. There is generally only one path of promotions and significant raises. Wherever you start, you have to become an analyst and then a manager in charge of increasingly more people. There's very minimal promotion within teams. 5. There are quality people but there's a lot of preferential treatment and genuinely horrible people that ruin a lot of situations even when the quality people are present. Even the quality people get forced to proclaim the company line rather than speaking out for what's right or what needs to be done. 6. Bonuses, especially Christmas, are in the form of company merch that not everybody uses or things like a coffee cake, which not everybody eats. They use a lot of things that are cheap for the company but not actually useful to employees to justify lower salaries and lack of monetary bonuses. 7. They don't consult with the people that actually use processes and software before creating and using it, which results in a lot of issues that could be avoided if the right people were involved in the development process. 8. They use a lot of corporate buzzwords in meetings and when responding to questions so the end result is a lot of words but very little actual information or answers. 9. They're more focused on optics and being comparable to what other companies are doing than being the best they can be. There's a lot of "it doesn't look good" or "it's industry standard" and things of that nature to justify things they do. It's important to strive to be better and they refuse so often. 10. They keep trying to shorten training times but in order to do so they remove information and guidance that's actually useful. The end result is more mistakes from people they're bringing in and more issues to deal with for clients.

2.0
Oct 14, 2024
Recommend
CEO approval
Business Outlook

Pros

-Onboarding allows the opportunity to connect and bond with colleagues early on with work locations. -The office is very convenient and allows brief moments to meet in person and experience the benefits of working with the largest broker/dealer in the country. -Always opportunities for learning and mentorship if you are serious about networking.

Cons

-Feedback wasn't always consistent with tiers of management, making the intentions behind them dubious at best of times. -Lower expectations for compensation for newly added responsibilities. -Lower expectations for movement to other departments as the requirements for that also change frequently enough as well.

1.0
Oct 4, 2024
Recommend
CEO approval
Business Outlook

Pros

Unlimited PTO benefit and pay isn’t bad. Good business growth potential.

Cons

Top down communication is poor. High turn over rate with employees. No accountability at SVP & EVP level. SVPs/EVPs do not appear to work together or communicate with each other.

Viewing 244 - 246 of 2,094 Reviews

Glassdoor has 2,437 LPL Financial reviews submitted anonymously by LPL Financial employees. Read employee reviews and ratings on Glassdoor to decide if LPL Financial is right for you.