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Got my first job out of college and everyone knows how difficult it is to get a job these days. Little did I know that they were just scamming and intent on taking advantage of my strong desire to do something good in my life and impress my new employer.

I should have gotten a clue when they asked me to pay them $400 up front to pay for part of their expense to put me to work. After 3 weeks of working 12 hour days and cold calling to sell their products, I never got a single pay check. When I finally had my fill of misleading customers for them, pushing their products and waiting for that first paycheck which I never received I got out.

Then they had the gall to send me a bill for $640 saying that if I didn't pay them they would turn it over to a collection agency and ruin my credit. Is this how the real world of working for a living goes? So sad.

I thought most companies had integrity and honor but not this company. If you ever get a job offer from LPL Financial run the other way. If you ever get a offer from someone from LPL Financial to use their services or buy a product tell them *** no. Imagine if they treat their employees this way how they are going to treat their customers.

Location: Tampa, Florida

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Guest

Bologna

Guest

I work at LPL Corporate. Independent Financial Advisors run their own offices.

This company is a great company to work for. The Advisors run their own business. Come work for corporate if you want an hourly wage. They pay well and have great benefits.

The person you worked for is responsible, not the company. He did not represent LPL corporate, or the values we possess at the company. Be careful who you go to work for. Life lessons.

Just chalk it up to another college class.

You had to pay to go learn in those classes. Now you just paid for a real life lesson.

Guest

I work for LPL financial and at the corporate office. I have been with the company since March 2006 in the Charlotte office.

LPL does not make you pay to work. The offices outside of Charlotte, Boston and San Diego are independent advisors that run their own businesses. LPL pays decent and have good benefits. It should not cost anything to work for the company and whatever independent advisor probably requested the fees which were their fees and not LPL's.

Hang in their and you can have great opportunities and a rewarding career ahead! Move to a different location if you have to or try to get on in one of the corporate offices.

LPL takes care of their employees, I am living proof of it.

From the Chatlotte office

Guest

I recently left LPL. With the recent changes, outsourcing and reorganiztion, it is sad to say that the company I've worked for, for some 10 plus years is doing everything and anything to boot these hard working inidividuals out of their jobs.

The management are out right brutal and are just after their employees' blood. I would work anywhere from 10 to 15 hours a day, than come in on the weekends. Needless to say, everyone is in a frantic,of losing their jobs. Performance review comments from management are a joke and needless to say false.

The hostility, harrasment, retaliation; reprisal I mean you name it makes up LPL. Don't be a slave to this company. Management are purely evil and have no souls or any regard to humans...sorry it is the truth.

I'm so happy to be with a great company now, heck started off on a much higher pay than I ever did with LPL in the 10 plus years of my career with them....good luck to all and all my friends still slaving at LPL. There's a better world of employers out there.

Guest

I can say a lot about an office of LPL Financial....First off we invested a very sizable amount of money. Today we have less than we invested.

This does not mean our Broker was not told "repeatedly" what we wanted. We called and complained so many times regarding our losses. "Historically" was the word...the market always bounced back!!! When the crash came and we were losing huge sums of money daily I called and told the Broker, "This is the day we come out of the market." (This was after a one hundred thousand + loss) His reply was oh, there is a way to stop the bleeding!!!

Where was he before when we were complaining??? I was furious!!!

Now LPL is being sued because of Western Inland....and we don't know what that involves yet!!! We have spoken to another broker and are going to take our information elsewhere.

Guest

I joined LPL in 2007 as an already experienced and successful advisor. Before that, I spent 14 years at Wells Fargo (Wachovia, etc) but prior to that I had already spent 4 years at Merrill --where I first joined as a Trainee.

Anyhow... joining LPL was the best move I've ever made. Seriously. Every time I talk to a SENIOR LPL rep, I only hear good things about their experience with LPL, which MOTIVATES me and reinforces my decision to ditch the wire-house model forever. Sure, once in a while I hear complaints about LPL's obsolete technology, but other than that, at LPL I have found the freedom and flexibility I NEVER experienced at other firms.

Now, every single branch at LPL is unique. Not all 12,000 reps are happy, but a *** who left or was kicked out due to regulatory issues does not represent the universe of LPL reps. Besides, each Branch Manager is free to hire/fire assistants and treat them differently.

So my advice to young kids trying to become Independent Advisors at LPL is this: Don't. Don't try because this is not for you (unless you find a good mentor, which should be a SENIOR guy, not another young guy).

In my opinion, if you're looking for a "job", you need to go Edward Jones, Ameriprise or Merrill. At LPL you don't learn to "sale" annuities or whatever you can, you are expected to know what's best for your clients (the "know your client" rule).

In closing, the role of an Independent Advisor at LPL is not for college kids right out of college.

Guest

CFP Certification makes you an LPL salesman.. you're still going to work Commission..

Why not take the Series 7 exams and get certified as a REAL Financial Anylist then go work for a company like S&P... There's a Big Difference between CFPs and Financial Anylist/Planners

Guest

I have invested with the help of my local LPL financial adviser over the course of the last year. I have nothing bad to say about him or the company, just the opposite. He is willing to educate me on what I'm investing my money in and, answer the questions I have.

I'm sorry you had a bad experience with an employer. I don't think this is venue for your complaint. It is called Pissed consumer after all. Not, I'm angry at someplace I used to work dot com.

As a CONSUMER using LPL Financial, I think it's a great company!

Guest

I've worked with LPL associates and they are some of the most arrogant, rude, uninformed people I have ever met. They are hard to work with and and know little to nothing about how things work on the backend. Don't use them for anything.

Guest

Stay away from LPL Financial!!!

Kyle D Dsw

DJG - you sound just like the insensitive unethical people I am dealing with on this claim. Is this a personality trait that LPL admires? You actually think it is fair to hire someone for their first job, work them 12 hours days for 3 weeks and then ask them to pay the company over $1,000 for that privilege? I mean come on.

Sure I signed a contract but what eager prospective employee wouldn't sign anything their new employer throws in front of them in order to get the job. That doesn't mean that we should be taken advantage of just because we are eager to please?

I have learned a valuable lesson from all of this and I will be more careful with employee contracts in the future but I will never pay LPL anymore money in return for working for them.

You however it seems have only learned how to take advantage of people and demean ex-employee's that stand up for what is right. Take a Dale Carnegie class or read the 7 Habits book by Covey; I think it may help change your perspective on how you should treat people.

Guest

Okay so from what I can understand in your rant listed above. You wanted an hourly pay job. What you got was a Commission Based Job. They made you pay your own costs for E&O coverage registration etc. Sounds like you didn't read the contract that you signed.

LPL Financial is a great company. I am surprised they approved someone like you to even be an agent. I only say this because you don't have the drive or financial backing to be an Advisor.

Go get a job at Wal Mart. Being an advisor isn't a job it is a career and a lifestyle. Good luck in life.

Kyle D Dsw

You are right I shouldn't paint the whole firm with this brush. It was just the Tampa branch.

I have since enrolled in class again to get my CFP certification.

Now that I have learned a valuable lesson I am sure my next job will be better. I just need them to drop their ridiculous claim against me but it looks like they are not going to, so I will do what I have to do to fight it.

Guest

Sounds like you were working in one of the independently owned branch offices. This is not a reflection of LPL Financial, the broker/dealer, but of 1 of over 4,500 branch offices.

I've worked with many branch offices over the years and never run into this type of management. I'm sorry you did.

Please don't paint the whole firm with that brush. I wish you the best in the future.

Guest

As upset as I am about how you were treated but,please understand that LPL is a company that provides the back office support for individual entrepreneurs who want to be independent from the banksters of Wall Street in a way that puts the clients interest first.

I do not question one word of your experience, but please know that your financial experience is a function of the human being you worked with, not the"institution"

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