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Lpl Financial - Lost a lot of money
Moved a nice account that had made money in the past to LPL Agent. Was advised to sell stocks that had paid good checks each year, which was done. Advised to sell tax free bonds in 2015, which was done. Advised to sell all stocks in August 2016, which was done. Advised...
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Anonymous
Anonymous

The same thing happened to me with LPL financial. The salesman at LPL in West Bloomfield Mi is very poor at what he does. As a note I lost over 40K there in three years

1.8
I didn't like
  • Need adviser not salesman
#974314
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Lost over twenty thousand dollars in 5 years. Did not put our stocks where we asked, and was put in a high risk account. Not what we wanted! Finally pulled our stocks out. I would have made more money in a savings account. Did not answer phone calls, the stacks of...
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I liked
  • Initial speal on making us money
I didn't like
  • Not cooperative
  • Advisor collected fees even when account lost money
  • Did not listen to us
#973798
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Lpl Financial Account Review

*** can't even setup a account online
#973308
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Bad uncaring service, hidden fees are just the beginning. I am glad to finally shake them off. For example, the money transfer which was supposed to take a maximum of two weeks, with this organization took six weeks and that was after four emails and five telephone...
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#971908
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About 5 years ago when the interest on regular CD's took a huge nose dive, my mother's bank (People's Bank of Paducah, KY) suggested that we invest our money in a market CD. This type of CD pays money based on the market without actually buying stock or at least this...
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#963450
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I had been managing my own investments and portfolio for years, but it was time consuming and exhausting trying to manage accounts from numerous previous employers. So, I thought that I would consolidate some of the accounts and allow a custodian/advisor to manage my...
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1.0
I didn't like
  • Advisor did not diversify account against market downturn
  • Advisor collected fees even when account lost money
  • Funds were constantly purchased and sold at a loss
#957065
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I got a letter showing an address that I have not lived at for over 3 years, still on the records for me because my local agent did not change it when I have gone to him within that last 2 years, possibly 1 year. This is as outrageous as having to pay PGE more...
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2.0
I didn't like
  • No sharing of information throughout the company
#931687
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Went to cash in my LPL account and lost a few thousand dollars in the process. It took several days after I requested the change. I have experienced below average results versus expectations. Once you decide to change investments you should get what you ask for. Not...
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1.5
#922785
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My Financial Advisor in Beaverton, Oregon who utilizes LPL Financial as his investment platform, painted a rosy picture of my retirement income outlook, but failed to mention all the hidden expenses and how they make money regardless of how you do. As a result I lost...
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Anonymous
Anonymous

I worked with an advisor out of Stanwood, Wa. He was vastly incompetent could not make money in an up market! Always had an excuse though. I lost money while others around me ...

Anonymous
Anonymous

Sorry for your financial loss. I am dealing with about $6000 in one mutual fund in my dad's estate. Not only does LPL charge crazy high fees and commissions, they have all s...

#887743
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I was stunned when I heard that Suzanna Dwyer passed away. She was a wonderful human being and I highly respected her judgement. I really enjoyed working with her very much. I was one of Suzanna's accounts. I expected that her accounts would be continued or other...
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Saranac Lake, New York
#853095
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