PL was founded with a pioneering vision: to help entrepreneurial financial advisors establish successful businesses through which they could offer
truly independent financial guidance and advice. Today we provide an integrated platform of proprietary technology, brokerage, and investment advisory
services to over 14,000 financial advisors as the nation’s largest independent broker/dealer,* making us a leading distributor of financial
products in the United States. In addition, we support over 4,000 financial advisors with clearing services, advisory platform, and technology solutions.
In 2016 with the score far below the industry average, LPL Financial Services finished sixteenth among the 20 full-service invesment
firms participated in the annual J.D. Power U.S. Full Service Investor Satisfaction Study.
by David Wilson,
Pros: Our representative is a very nice guy.
Cons: LPL's back office, or wherever that asset transfers are actually performed, are as responsive as watching paint dry.
We've been attempting to distribute the assets from my deceased in-laws' trusts. Nothing happens for a week, and then we complain. We find out that some additional form needs to be signed, but they didn't bother telling us that right away. More forms get signed, and then more time goes by. And on, and on, ... If you need anything done in a timely manner, LPL is the wrong company. They were once highly rated for service, but now they're 16th out of 20 according to JDPowers. I'm surprised they did even that well.
by K willis,
Pros: huge outfit
Cons: huge outfit
LPL took over accounts at my credit union and no one was advised until it was done. This seems unethical to me and not in the best interest of the investor. I am moving my investments ASAP in light of their poor rating.
Pros: Broker was pleasant
Cons: Broker was difficult to communicate with
Broker/LPL made mistakes with automatic withdrawals. Broker made scheduled meetings and did not show up. Communication overall very poor.
Cons: can't liquidate assets
Another estate liquidate problem. In reading a review above, I thought I was reading my own review before I wrote it!
As executor of my father's Trying to liquidate my late father's estate. The extreme incompetence I see dealing with these people make me glad I don't have any investments with them. Every time I talk to them I get conflicting information and direction. Nothing but the run around.
Cons: This is not agains a broker per se, but an estate liquidation
I am the executor of my late father estate and have been getting the run around From Nov 2015 to March 2016 and the issue is not yet resolved...I was forced to complete 14 pages of paper work 3 time until I satisfied their staff....You know at some point we all die, and I would not want my family to go through the agony of dealing with this insensitive company...They exhibits no clue that I am grieving the death of my father while they continue their augmentative smug attitude....
I turned my IRA over to Dallas Grabow to manage since I had been disappointed in a previous investment advisors, thinking that he would do a much better job for me.However I was totally disappointed in the inappropriate investments, the lack of attention to my account, the inability to correctly mitigate losses, and the overall ineptness of the direction he was taking with my funds.
All of this resulted in a loss of $16,000 in just the few months he was in charge of my funds before I pulled out my investments. I cannot recommend LPL Financial or their consultant, Dallas Grabow to handle or advise on any financial matters.
An expensive relationship!
Everytime u call get a different person telling u different things to do. Still in the process of trying to close my account three months later. What a run around