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Just opted to close my traditional IRA at LPL by having it liquidated and rolled over to new Brokerage.Called LPL Financial Advisor, only to be told that I would have to request the funds through the new Brokerage.After contacting my new Brokerage, I am told that LPL...
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4 comments
Anonymous
#896364

Your NEW brokerage should handle the transfer AND cove those fees! If not...you might re-consider your new brokerage. Seriously.

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Review
#440146 Review #440146 is a subjective opinion of poster.
Loss
$175
Tags
  • Exorbitant Brokerage Fees
I had a good amount in my savings account with HSBC, then First Niagara bought them out so the investment company for this bank was changed to LPL Financial, Mr Mailman who was the account executive talked us into investing $100k into the Bernstein funds and in 3...
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2 comments
Anonymous
#769516

It sounds like your issue was with your specific advisor and a misunderstanding or misrepresentation of risk.

LPL Financial is not a mutual fund company, insurance company, or bank that works directly with clients.

LPL Financial consists of independent advisor representatives with their own individual businesses. LPL Financial provides research, back office, compliance, and technology support to those independent advisors.

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Review
#438552 Review #438552 is a subjective opinion of poster.
Loss
$10000
In May of 2013 I submitted a request to have money transferred from the IRA money market account at my local bank (earning less than 1%) to my LPL IRA and Roth IRA investment accounts. I properly and completely filled out the transfer forms, including the source and...
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3 comments
Anonymous
#769496

It sounds like your issue was with your specific advisor and their unwillingness to assist you with your transfer. As a client, you should not have had to complete the transfer form.

It is the responsibility of your independent advisor's office to complete forms and follow up on transfers as LPL Financial does not interact directly with clients. LPL Financial is not a mutual fund company, insurance company, or bank that works directly with clients.

LPL Financial consists of independent advisor representatives with their own businesses. LPL Financial provides research, back office, compliance, and technology support to those independent advisors.

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Review
#437042 Review #437042 is a subjective opinion of poster.
I have a Mac computer using Safari browser. For years LPL continued to tell me they only supported Firefox for a Mac computer but that their Tech Dept was working on having Safari users granted access. After two years I was told I could access via Safari. It worked...
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2 comments
Anonymous
#874880

No it was your software, "John" who cuts and pastes the same answer for every complaint. Did her independent advisor set up your programs?

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Review
#435212 Review #435212 is a subjective opinion of poster.
I have been trying to rollover my IRAs at LPL into my local bank CD/IRA account. So far it has taken over a month to get this done--LPL is coming up with all kinds of errors on my part that have to be corrected. Instead of emailing what needs to be corrected, they...
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1 comment
Anonymous
#769502

This type of transfer is initiated by your local bank and the transfer form should be completed by an employee of the bank. Registrations need to be identical, dates provided, letter of acceptance (issued by your bank) needs to be provided.

It is the responsibility of your bank to make sure the forms are completed and accurate.

LPL Financial is not a mutual fund company, insurance company, or bank that works directly with clients.

LPL Financial consists of independent advisor representatives with their own businesses. LPL Financial provides research, back office, compliance, and technology support to those independent advisors.

Review
#431755 Review #431755 is a subjective opinion of poster.
LPL is a shady operation. Over 8 years ago a financial advisor had me invest money in an IRA acct. This account continually lost money over the past few years and when I tried to contact the advisor LPL acted quite strangely and repeatedly said they would have someone...
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5 comments
Anonymous
#1503305

My senior mother has just met with this same surprise. Compared with other investment companies, I believe their fees are excessive.

Other activities seem questionable as well. Use caution here.

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Review
#425832 Review #425832 is a subjective opinion of poster.
Careless advisor moved money from wrong account and caused me to incur a $6,000 debt to IRS. I usually receive a $1,500 refund. They are very careless and inexperienced advisors. Only after the fact have I heard from others about negative experiences with Nothelfer...
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3 comments
Anonymous
#769511

It sounds like your issue was with your specific advisor and not LPL Financial.

LPL Financial consists of independent advisor representatives with their own businesses. LPL Financial provides research, back office, compliance, and technology support to those independent advisors.

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Review
#397194 Review #397194 is a subjective opinion of poster.
Loss
$6000
I requested to tranfer my profit sharing plan funds for our employees to ADP which is my current provider of service in November and 4 months later it is still not done. The financial advisor stopped responding to phone calls and emails 3 months ago after all the...
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Review
#396519 Review #396519 is a subjective opinion of poster.
Loss
$89000
My mother passed away in January. She was unfortunate enough to have money invested with LPL thru some shyster broker in Florida. The broker turned the account over to LPL as a house account which left me dealing directly with LPL as executor of her estate. They gave...
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1 comment
Anonymous
#1117930

Having the same problem. They are crooks. Did you get your money?

Review
#391434 Review #391434 is a subjective opinion of poster.
Gentlemen My name is Donald Broomfield LPL Retirement account 1974-0669.My Account Executive Eugene Liss. Mr Liss has been a reliable advisor for many years until the summer of 2012 at which time he recommended a significant number of revisions to my investments and I...
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1 comment
Anonymous
#665486

:) Thank you for your valuable details on LPL financial services.lpl financial services

Review
#386626 Review #386626 is a subjective opinion of poster.
Loss
$1000