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 else contact me since the first guy didn't work there anymore. Nobody ever called or wrote me over the past 3 years even though my money kept losing every quarter, and when I finally decided to just close the account they told me on the phone that they were going to charge me $135 for doing so. They said they had to charge me yet another yearly fee of $40 although I was just charged for the yearly fee 4 months previously. What is the additional $95 charge for?
Well the phone rep told me that they charge everyone that closes accounts different fees!!! What a joke.
I'm sure this was in extremely fine type when I opened the account, if at all. Their CEO is sure to get his fat bonus checks from stealing from us little guys who are barely making it!
Product or Service Mentioned: Lpl Financial Account.