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1.7
Details
My father in law was foolish enough to move all his assets to LPL in his later years. Every account was set up to transfer on death, and his four children were named as beneficiaries. It has been five weeks, and EVERY.SINGLE.DAY. they have come up with a different...
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4 comments
FortunateTortoise518
#1723447

Wow, this is word for word what my husband is going through. His mother passed away in May 2018.

We closed her secession 2 months ago and we are still waiting for funds dispersment. My husband and his sister signed paperwork on a Thursday then Monday they sent a whole different set of papers saying the ones previous were incomplete because of a server problem or something. A server doesn't send out a totally different set of papers. Not one dollar amount was ever on any of the papers.

No fee amount. Nothing. I started getting skeptical but my husband is a more patient person. 2 weeks ago we got an email saying the checks were going out and confirmed our mailing addresses.

2 weeks, no checks. No return calls, no return emails. I showed my husband this review today and now he decides to get upset. He is on the phone with the corporate office and guess what......there was never a check ordered, account never closed or anything sold off.

So were they still pocketing interest and commissions? Pissed Customer #2

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Review
#1241087 Review #1241087 is a subjective opinion of poster.
Reason of review
Poor customer service
1.0
Details
Their primary focus is the highest fee charge possible than financial advisor or customer's investment growth. Never been informed about the fees nor transfer of my account. NO customer service nor satisfaction. They never follow up on the issues nor care for the...
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Review
#1237525 Review #1237525 is a subjective opinion of poster.
Cons
  • Worst customer services
Reason of review
Poor customer service
Loss
$225
Preferred solution
Full refund
Tags
  • Lpl Ripoff
1.0
Details
After being a customer for 10 years I realized that LPL Financial is suck and they suck their customers. I lost money and capital on their investment. But, even worst they charged me 10% commission to close my account and never communicated with me in 10 years. What...
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Review
#1212771 Review #1212771 is a subjective opinion of poster.
Cons
  • Worst experience ever
  • No customer service
Reason of review
Bad quality
Loss
$4000
Preferred solution
Full refund
1.0
Details
I thought mine was a unique experience but after reading other reviews here, clearly it was not. When I wanted to transfer funds to another firm in order to consolidate my retirement accounts, I was met with an obnoxious and condescending response from my advisor....
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Review
#1205955 Review #1205955 is a subjective opinion of poster.
Cons
  • Being dismissed and ignored
Reason of review
Poor customer service
Preferred solution
This advisor should have a disclosure on his record based on my complaint
I have over 9 hours into trying to liquidate an account that they send statements on...(they have had my $ for over 15 yrs) They have demanded an account application (7 pages) Fax only, who uses fax? then did that and they said it was the wrong #, so I am sending to...
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1 comment
LoudCavalierKingCharlesSpaniel
#1466761

I totally understand your frustrations... I am on the same boat. These guys are thieves but they don't seem to care at all.

Review
#1204900 Review #1204900 is a subjective opinion of poster.
Reason of review
Return, Exchange or Cancellation Policy
1.0
Details
My mother had an account with LPL. After she passed away she left me with an inheritance. That was September 2017. It's now February 2018 and I cannot seem to pry the inheritance away from LPL's greedy and incompetent hands. They forced me to open an account with them....
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2 comments
Anonymous
#1440788

I agree. Totally incompetent and customer service is abysmal.

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Review
#1186734 Review #1186734 is a subjective opinion of poster.
Cons
  • Being coerced
Reason of review
Poor customer service
Loss
$4000
Preferred solution
Full refund
Just like many of the other complaints here, I was lied to and stonewalled when trying to close my account and get my money back. I had a structured CD that I was assured had no fees, yet they charged me to close the account. Took talking to 6 different customer...
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Review
#1171548 Review #1171548 is a subjective opinion of poster.
Reason of review
Return, Exchange or Cancellation Policy

LPL Financial - Theft of account funds.

1.0
Details
TERRIBLE INVESTMENT COMPANY!!!.after account showed ridiculous small gain in etf & bond gain,two days after request to transfer entire acct into a preferred stock,which was booming,they did so,but acct showed 600.00 less in balance that was transferred.where did 600.00 go in two days? They stole that amount right off the top.
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Review
#1145018 Review #1145018 is a subjective opinion of poster.
Reason of review
Problems with payment
For six weeks I have been trying to transfer assets from my late mother's LPL account to her heirs. I have talked to 11 different people and submitted 6 different notarized forms and still have not completed the process. Her LPL agent in Portland -- Tom Berry --...
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1 comment
Anonymous
#1537106

I've been trying for two weeks to transfer my IRA back to my employer sponsored plan (from where it was originally before I was coerced into putting it with an advisor at LPL......who by the way UNDERPERFORMED significantly the ROI with my employer's plan had I left it there....PLUS I had to pay this quack 1% to lose my money??)..........tons of phone calls, LPL employees that dont communicate; all incompetent. They should be shut down.

It's like they are holding my IRA hostage now so they get more fees. Ill sue.

Review
#1144260 Review #1144260 is a subjective opinion of poster.
Reason of review
Poor customer service
1.8
Details
Why under Activity Summary on pg 3 of 6 is there ONLY info on Div/Int/CG and Fees/Exp? Why is there no way to determine any Gain (+ or -) of finances for a given month on the statement? It seems this info is being withheld, omitted or exempt for whatever reason LPL...
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Review
#1127747 Review #1127747 is a subjective opinion of poster.
Reason of review
Imcomplete reporting statements
Preferred solution
Put statements back to the way they were prior to June 2017 - period IF LPL is not willing to disclose all finances on monthly reporting statements!