Specialist - Anonymous employee LPL Financial Employee Review

2.0
24 Jun 2018
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Coffee Cafeteria Air conditioning Co workers for the most part

Cons

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?

Explore other reviews about LPL Financial

5.0
27 May 2026
Recommend
CEO approval
Business outlook

Pros

I loved my internship here. It was very immersive and everyone was very kind and supportive. Loved the team I worked with.

Cons

Could have been a bit more to do.

2.0
23 May 2026
Recommend
CEO approval
Business outlook

Pros

LPL Financial offers a flexible hybrid work model, which is one of the better aspects of the company. Managers are generally not overly strict about specific in-office days, giving employees some flexibility in managing their schedules.

Cons

Work-life balance is a major challenge. Weekend release work is common, often averaging two weekends per month, yet there is no overtime compensation. Employees are essentially expected to work a full workweek plus weekends when needed, which has contributed to high turnover on some teams. The culture can also feel harsh and impersonal. Leadership rarely expresses appreciation or recognition for employee contributions, which negatively impacts morale. Some managers come across as cold or overly task-focused, creating an environment where employees feel valued only for output rather than as people. There also appears to be a lack of trust between employees and leadership. Many teammates do not seem confident that leadership understands or genuinely addresses their concerns. Overall, morale feels low, and recognition for strong performance appears limited.

2
See reviews by: Helpful|Rating|Date|All