LPL Financial Reviews
by Suzy,
8/20/2024
Pros: Accessibility
Cons: No culpability
Review: Guess I’m not in the minority here with this firm. My husband’s account was previously with Fidelity. He wanted his funds more accessible to me. Over the years with Fidelity we never lost more than 5% over a quarter. With LPL the losses were gross and dramatic! Three days in to this firm we lost 7k ten days later 13k of our hard earned money gone! All the rep stated was the market went down…well that’s a darn big hit and one that is very questionable indeed! He said to wait and since I was in the process of survivorship I had no choice. A week later supposedly in recovery the gain was not even close to the initial balance. I am completely disgusted and will be hiring an attorney this company has rampant law suits more fees than government taxes and you will loose thousands. As others have said RUN AWAY FROM THEM!
by S K Kermit,
12/19/2023
Pros: 0
Cons: 1,000,000
Review: My bank was bought out by M nT bank. I previously had done all my own trading at a very low commission. This is how I would like to trade, but LPL wants to do it their way. High risk, high commission, payout for their sleazy advisors.
Glad the application process has been tedious.
This led me here to these negative reviews.
Headed to Fidelity tomorrow to transfer account. Yesterday I asked to speak with a manager or supervisor. After a 20 minute hold, I was told no one was available.
So hard to believe they have our money held hostage.
We never asked for LPL they were forced on us.
by robert,
11/26/2023
Pros: NONE
Cons: I have to hire someone to protect me from LPL,i dont know who but i cant deal with them on my own.
Review: they got all my money, im not in any position to critize them and get them mad at me.
by Richard,
9/19/2023
Pros:
Cons: My mother had a stock account and an IRA account that were set up as TOD. Little did we know that this means that we are required to open an account to allow the transfer. 3 applications later and they have finally created my account with my name spelled miserably wrong. This means that it is difficult for them to verify who am and the association of the deceased persons account.
Review: I have been required to submit the documents for transferring the funds from her existing account to my new account 3 times. I am disabled and I would like to have access to this money before I pass away as well. I have been told a week ago that the IRA funds have been transferred to a temporary account in my name but that it requires a verification process before the funds will be sent. I have been trying to get this done for 6 weeks now and I have become very frustrated with this situation. I was sent an email last Friday indicating that the check was going to be sent on Monday. Monday evening I receive an email asking if they had called to verify the request. Tuesday night I received an email saying that they need to schedule a call for the verification process. LPL has done everything in their effort to delay this process over and over again. It shouldn't require a court order for them to release the money to a rightful heir that was clearly identified in the previous years documents!!!
by electricutilityguy,
7/14/2023
Pros:
Cons:
Review: I thought I'd try LPL. Not knowing much about them, I assumed they knew a whole lot more about investing than me. Was I wrong. The past year my Fidelity investments (managed by me, someone who knows little of investing) had a loss of only about a third of my "professionally managed" investments by LPL. If I had to do it over again, I would have not used them. They don't know any more than me. I'm thankful I lost only $3500 in a year's time. Run to the nearest exit.
by Emily,
6/18/2023
Pros: None
Cons: Many
Review: After my mother passed away, her brokerage account, which was with M&T, was transferred to LPL, with the same advisor. When I looked at the list of fees, I was appalled. Unlike my mother, who had no investing knowledge, I am aware enough to know that I could do better. I did talk to the advisor, who claimed all brokerages charge these fees, which is nonsense. By this time, the account was in my name and once I was sure the funds weren’t needed to pay fees and inheritance taxes, I transferred the account to Merrill Edge, since I bank with B of A. Merrill took care of the transfer with relative ease. Now there are way fewer fees and the two front load funds originally in the account are load-waived at Merrill, which is handy for reinvesting in those funds, which themselves aren’t terrible. I can now buy and sell other investments without a transaction fee every time. The advisor never contacted me about the transfer, but I suspect they knew I wouldn’t stay. I am happy to have gotten away from this brokerage.
by Mike B,
4/27/2023
Pros: Honest and responsive
Cons: None
Review: My wealth advisor Bill Harwood has done an outstanding job through LPL Financial. His communication is excellent and integrity is beyond reproach. Very satisfied with Bill who I have entrusted to invest my money. After reading a lot of the reviews I am assuming it comes down to who you vet and select.
by LPL Victim,
12/22/2022
Pros: None
Cons: Received 3/4 of payment w “third party” as only info
Review: BEWARE- COVID SCAMS & FRAUD
Cons and scams always follow natural disasters. Naples FL sees continued increased in fraud cases. Please read my experience below.
•SHADY Ft Myers trustee/financial advisor (sued repeatedly in Collier Co by financial institutions for breach of contract), secretly transferred family trust funds to LPL & agent MARC REISMAN.
• I am the beneficiary of this trust and was never contacted by trustee, his local attorney Grant, (with only 3 yrs of scant experience at daddy’s law office) or anyone at any office including LPL.
•Received a random check from LPL containing only a notation “Third Party Payment”, an account number and small LPL logo. No phone number or any other information.
•Called the tiny number below return address on outside of envelope and first rep was exceptionally rude and refused to answer any questions before hanging up on me.
•Called back, different rep, was very professional and helpful. Said that the lack of information was 3/4 of the trust payment for 2021.Said the remaining 1/4 of payment would be arriving before 12/31/22. Today is 12/22/22. He had emailed LPL REISMAN, without a request from me, during our conversation.
•Rep said that the description was irregular, very concerning and seemed like it might be the result of intentional, specific instructions from the trustee.
•When you check the SEC website LPL has been fined $$$ reportedly for just this kind of conduct Failure of oversight, management and compliance violations.
•No one from LPL has contacted me even though I have left Reisman voicemails.
•REISMAN has very few trading certifications despite claiming a 42 yr career as an advisor or broker.
If your money is invested by an LPL broker or advisor, please check the SEC website for broker and LPL violations and broker/advisor violations and consequences.
by Lost IRA,
12/16/2022
Pros: None
Cons: Sleazy
Review: They lost 60% of my hard earned IRA in year & half.I am 72 and can’t believe how much they took advantage of my being LCNB bank customer. Stay away from these people!
by Rob Undersander,
12/7/2022
Pros: None
Cons: Incompetent
Review: Mr. Mike Kennedy was my father's financial adviser for at least 17 years. After collecting thousands of dollars in fees from my father, who recently passed, he had niether a TODD ( Transfer of deed on death) nor beneficiaries set up for his retirement accounts. As a result, that property and funds, will have to go through probate taking several months or even a year. When I questioned him about it, his response was not helpful and unusually callous to someone who has recently lost a loved one. He is the worst financial planner I have ever encountered.
by Eric Hollander,
11/23/2022
Pros:
Cons: worst ever
Review: LPL financial is the worst a bunch of scammers I would never ever use these people again. Trying to get my mothers assets divided between me and my brother has been the worst experience from this company. This company has no customer service. All they’re worried about is keeping the money from their customers. They don’t care if you have bills to pay all they’re worried about is keeping the money for their selves and doing nothing for the customer worthless company I ever used. Be prepared for me to close my accounts and never ever use you again. I will tell friends and family to never use you. You’re a worthless company you should be investigated. I have nothing good to say about this company.
by Nancy,
11/3/2022
Pros: None
Cons: Shark Referee
Review: HE worked with sleazy family member to totally clean out my 83 year old mother. Would not ask her about transfers and never filed the POA with LPL. We took them to court after they cleaned out mother and the Lawyers did an elder abuse number on her in court so now she has nothing to support her. She trusted the family member and the broker and LPL totally supported them and their activities. Do not trust them!!!
by Nancy,
9/27/2022
Pros: nice corvette
Cons: doesn't seem to care about you
Review: My financial advisor managed to lose over $600K within the past 9 months---which is more than I made 20 yrs working. He won't listen to what I tell him and what my goals are, instead he does what he wants to, and most of the time it is nothing....I am paying LPL over $20K a year to manage (loose) my retirement savings. He likes to blow smoke up your ass and try to impress you with his Bu**SH** when in reality he doesn't have a clue what he is doing. YOU'RE FIRED LPL!
by omar tabbakh,
7/8/2022
Pros:
Cons: terrible customer service
Review: This financial advisory service is one of the worst i have come across. my account was sold to these clowns when my former advisor went out of business. I have been trying so many times to do something as small as making a trade and these idiots refuse to do it. They continue to tell me to update my address which i have done 3 times just to make a trade so i can transfer my assets to an account that i manage but it has been a complete nightmare. i tell the agent to tell me how to execute my own trade and he informs me that i cant on top of being forced to pay a commision to sell. this firm is a joke
by Charles L,
5/9/2022
Pros: NONE
Cons: Idiots or Scammers - don't know which
Review: Rolled over my retirement pension to LPL mutual fund and within 30 days, I lost more than $7,000. Tried contacting my rep to move the money out of the mutual fund but she would not respond. Now, I am trying to close the account completely. They are either terrible at investments or they are CROOKS. Either way, don't give them your $$$. I wish I would have researched them better.
by Educated Consumer,
4/5/2022
Pros:
Cons: My rep got transferred to LPL when they bought out his fund family
Review: In less than 1 year from my investments transfering into LPL I am under legal counsel for unethical, fraud type transactions. I cannot comment further as legal proceedings are in process. Stay away if you value your investments and savings.
by biker john,
2/11/2022
Pros:
Cons: misleading investment advice, excessive fees
Review: Retired investors BEWARE!
Through my Savings and loan bank (ESL), I interacted with a bank employee/"Financial advisor." This bank financial advisor lured me into believing I would be investing in a secure conservative investment instrument. The experience turned out to be misleading investment advice by this employee representing LPL financial. After investing a minor amount in a "conservative fund" during the bull market of 2020 through 2021, my investment had a net loss -due to LPL maintenance and transfer fees.
by david,
1/10/2022
Pros: None
Cons: Worst technology and customer support
Review: I cannot understand how LPL is in business in today's day and age. I have an old rollover account and no longer have an advisor. I had left my equity positions alone for years but wanted to gain access today, other than the monthly statement in the mail, and trade all of my positions. It took some time to actually get to someone who could facilitate the trades and then I learned that the charge would be 1.5% of the trade value - which was going to mean over $1,500! I have accounts at Vanguard, Fidelity and that is just outrageous, as is the $40 monthly service charge - in exchange for nothing! I had no choice, so I opted to sell anyway and was give a deal of 50% off - so only $800 or so and immediately began a process by which I could roll the money out. I have been on hold for three hours, off and on, as while I had no trouble selling over $100,000 in securities, and the broker was able to verify who I was, no other department has been able to simply verify my existence so that I could access my account online. Unreal. I am still on hold as we speak, after an hour with the last person in technical support who was not even authorized to update my email and phone number even though I provided every piece of security information that proves that i exist in the world. Assuming i ever get through this, I will immediately roll my money out. As one who spent 20 years in financial services, I am appalled and shocked at how awful the infrastructure is even though every person I spoke to was lovely - I think six different people today - with not a one having any authority to help me - other than the trader, of course, who was happy to take the ridiculous commission seeing how I had no choice whatsoever. Total disgrace
by johnboy,
1/7/2022
Pros:
Cons: havnt spoken to him in two years
Review: million bucks invested,when i tried to get my at my money to buy a truck was told by some other person that was not my broker to go get a loan
by Jim Sims,
11/20/2021
Pros: My advisor has more freedom to offer me options, structured products, private equity like all the big money gets. I’m not that kind of big money but I get to run with them like I am. My broker g he as made me a ton of money. They were with another company in Columbia, then moved to lpl. I liked him then but love him even more now.
Cons: It’s hard at first to understand the difference between the two brokerage cos.
Review: Once I understood the difference between companies, it was clear to me he did this for me and my wife. He has saved us a ton of money at lpl, because he doesn’t have to pay for access to different products and research or advertising. And he passed some of that on to us. I work with people not companies. And my guy is it.
by Emir Duratovic,
11/9/2021
Pros: None
Cons: Scammer
Review: I lost about 2800 EUROS with this "broker".
First I invested 250 EUROS and then magic happened...My "financial advisor" Toby de Jong made profit about 3000 Euros.
To withdraw money I had to paid 2700 EUROS over "Bitpanda".
Still no money!
Stay away from lpl.financial.eu!
by Same as the rest.,
11/4/2021
Pros: None
Cons: Terrible
Review: Wont release funds. Always another 10 days etc.Its a strategy-not an accident.Criminals.
by maddy,
9/22/2021
Pros: SCAMMERS
Cons: SCAMMERS
Review: They keep call you every single day. when you ask them to remove my details from their system. They keep ask for personal information and at the end they will call you a liar. and push you to invest with them.
SCAMMERS SCAMMERS SCAMMERS!!!
by Kashui,
9/12/2021
Pros: Good interface
Cons: The hide under the mask to prevent people from withdrawals
Review: LpL finance is terrible, it all started when i invested a huge sum of money, the customer service started acting up and I was unable to get access to my funds. This was a big problem to me and my family until we reached out to Fightingscams on aol mail, they advised us on the best steps to approach and we got our case resolved.
by Mary Jane Coleman,
6/25/2021
Pros: None
Cons: Everything
Review: M and T Securities just left Pershing and are now with LPL Financial. If you thought Pershing was bad, LPL Financial is even worse--much worse!! No customer services whatsoever, impossible to speak to a customer representative, long-waits over the phone, never any promised callbacks, etc. I am currently looking at other firms to manage my accounts, and I would suggest others do the same (i.e., unless you like being completely in the dark)!
by Angry in Canton MA,
4/15/2021
Pros: None
Cons: LPL advisor was terrible, lazy.
Review: Stay away from this company. I had a terrible financial advisor. Too busy socializing, never did the research. Put me in slow to no growth investments during one of biggest growth markets. Gave me horrible advice about when to sell stock caused me a huge loss.
Tried to frighten me into staying with him. Telling lies about financial company I was moving to.
Moving to another advisor was best thing I could have done. Complained to LPL and they did nothing.
by Kay,
3/9/2021
Pros: None
Cons: Will not release money
Review: My local Finance Advisor said be no problem getting money when I wanted or needed it, invested over $100K. Got money once from it and then when I wanted the second time the loan advisor was rude and LPL would let me have any either. The started talking to loan associate and she acted like it was her money and kept saying I can't have money, am I being scammed. Personally it's none of their business what I do with my money. Finally told them I was going to close out my account and wanted all money deposited into my bank account. Did this on a Tuesday and one week later no money yet. I would want the money, if they didn't act like they stole my money and had to figure out where they were going to get the money to put into my bank account. I would never recommend LPL financial investment to anyone. I'm thinking of reporting them to someone. They say maybe someone is scamming me, well what do you call them scammers too.
by Elliot,
3/6/2021
Pros: NONE
Cons: Used Car Salesman-like
Review: Put my mother-in-law in a high-commission, terrible investment for a senior citizen. Never communicated or sent statements. Never returned phone calls. Lost $3K.
by B M,
2/23/2021
Pros: none
Cons: close to unethical
Review: sold all the income funds at their lowest price
sat in cash for 5 months then bought it back for twice the price ?
what were they thinking?
by Peter,
2/11/2021
Pros: I had a fabulous run with this Market and My fiancial advisor
Cons: None
Review: Started with 800K now up to 1.9 + million
by David,
10/30/2020
Pros: None
Cons: They are only interested in making high money/commissions on crap investments.
Review: I invested $310,000 in annuity that lpl said was guaranteed by the state.. The insurance company in now in rehabilitation and withdrawals are prohibited. I don't know if I will ever see my money again. RUN FROM THESE IDIOTS!!
by Jake,
9/22/2020
Pros: NONE
Cons: LOTS
Review: I don't want to repeat everything... Just read the reviews! Not worth it!
by dave,
9/19/2020
Pros: NONE
Cons: TOO Many to list
Review: I invested $310K into two annuities that were recommended and represented by LPL. The insurance company Bankers Life Insurance has been put into rehabilitation. I don't know if I will ever see my money again. The LPL agent made big commissions. Worst investment I've ever made. I'll put it under the mattress before I do business with LPL.
by Completely Frustrated,
9/1/2020
Pros: NONE
Cons: Misinformation, disorganization, lost paperwork
Review: I have been trying to cash in and receive my funds for several months. Each time I call, they request a separate piece of information that they neglected to tell me to send in the first place.
I have sent faxes, filled out forms and mailed them in, submitted info on the website and things still have not been resolved. I sent two documents on THE SAME PIECE OF PAPER and they only received one. How does that happen?
This is a fund that was set up for my child who is now 21 and I have always been the custodian of the account. She gave consent for funds to be released which should have happened a few months ago.
I have spoken to the customer service reps about every aspect of this account each time I’ve called. Today I was informed they can’t tell me anything since my child is no longer a minor. How was today any different than the last dozen times I’ve called???? I’m beyond frustrated and would not recommend them to anyone.
by BEVY OMALLEY,
8/18/2020
Pros: NONE
Cons: PUT ME A DIVORCED MOTHER OF 3 IN HIGH FEE ACCTS AND VARIABLE ANNUITY
Review: ADVISOR DRAGOTTA LOST ME $12,00O IN A VARIABLE ANNUITY LOST ME $11,000 IN MY IRA LOST $4800 IN STOCK SALES INVESTED MONEY IN SAM AND MANGER SELECT ACCTS KNOWN FOR HIGH FEES
by Robert,
8/15/2020
Pros: None
Cons: Liars con artists
Review: Do not give any money to an LPL advisor
Might as well send your money to Bernie Madoff !
Lost 30% and advisor said he was protecting me from market turmoil
Market has recovered and I am still 30% down
But still being charged outrageous fees ?
by Paulette,
7/2/2020
Pros: None
Cons: Lies
Review: Stay away from LPL!!! Will tell you one thing one day and another thing the next!
Not professional
by Robert,
6/9/2020
Pros: ZERO
Cons: Everything
Review: I lost my shirt!!!!! Account started with 67k. Went down to 45K in a booming stock market. I wanted to withdraw by money and kept getting the run around. Stay clear of this firm.
by Sparky,
2/21/2020
Pros:
Cons: LPL advisor
Review: Advisor was terrible. Asked him several times to do a financial plan with me just said youll be fine.
Lost me a lot a money w bad advice about when to sell stock. Recommended an investment to me which he was also invested in. It earned avg of .02%.
Actually yelled at me for investing some money elsewhere and not with him. Tried to scare me with lies about other financial planner.
LPL needs to monitor their financial advisors better.
by Robert,
2/3/2020
Pros: No pros whatsoever
Cons: incompetent with paperwork. terrible return on investment
Review: When my father, died I became executor and had to manage my mother's financial affairs because she has dementia. Every other investment firm my father invested with processed the requests within 3 months. It took LPL almost a year and a half to liquidate, and even then they didn't get it all done. I sent paperwork such as death certificate, POA, and Court Order appointing me executor. Three of the accounts were properly processed so that I had authority to communicate and make decisions. The 4th account did not, and it took months for them to straighten out their own error, even though they had all the paperwork on the other three accounts. In addition, the rate of return on the investments was negative. They are not customer friendly at all. They drag their feet when it comes time to liquidate and make you clear all sorts of hurdles that have no purpose other than making the customer's life difficult.
by Steve,
1/27/2020
Pros: None
Cons: Liar.
Review: LPL advisors are nothing but commissioned salespeople. Whatever is paying the highest commission that week is what they will suggest for your portfolio. Period. They are NOT financial advisors.
by Gillian,
1/18/2020
Pros: None
Cons: High fees, Dishonest, Took weeks for them to redeem my funds
Review: Horrible, unknowledgeable, terrible customer service, couldn't view holdings online.
by Marshal Hoyt,
1/16/2020
Pros: NA
Cons: NA
Review: WORST customer service ever! I have been trying to close my account and access the remaining minimal funds for over a year. I have spent hours on hold, filled out and sent notarized forms to them only to be told they can’t locate them. Stay clear of this firm.
by Frisbee,
12/22/2019
Pros: None
Cons: Lost money BIG in an UP market
Review: So-called wealth advisor LOST $50K+ during period where S&P gained 26%...kept trying to coax more of my assets to his control. He cost me $100K in real losses and over $100K+ in opportunity costs...RUN from this clown in Cocoa Bch, FL
by Hooper,
11/30/2019
Pros: none
Cons: no way I can liquidate my account and get my money
Review: Invested near 20,000 that now I cannot access and the account is non-liquid. In other words, I can't get my own money. Broker in Colorado Springs never advised me that there is a merger with other bigger investment firms and until the merger is complete, no one can liquidate their account. this might be half a year or more. At my age (over 70) broker should have advised me whether I want to do this. He was also angry when I contacted Finra. Also, they let 3,000 of the full amount sit around without investing, so it was money under the mattress. They did send me the 3000 +. Maybe that is all they had and I wonder if they squandered or stole funding and are telling everyone to wait with this merger is complete and send smaller checks to shut up their investors. Worse schemes have happened. I am not saying this is so, but it sure smells bad.
by Joe,
11/27/2019
Pros: They’ve done great by us
Cons:
Review: They’ve made us a lot of money
by Jim,
11/11/2019
Pros: none
Cons: They make if very difficult to close an account - told me i must fill in an 8 page account application to close the account
Review: They want me to fill in a new account application to close my account? I had no problem giving basic data but I don't feel i need to provide income, net worth, liquid net worth and Details on all other accounts etc... After a year of fighting they started charging $40/ month. I finally contacted Fidelity and had them transfer the funds for me.
by mark,
11/8/2019
Pros:
Cons: NONE
Review: Had IRA account in Augusta Ga for 10 years with Wayne BISSELL as advisor. Told him to transfer all my funds to my Vanguard account. HE sent a check directly to me, triggering a IRS AUDIT. T he only one that made money was him, due to his churning of the account. RUN don"t walk from these thieves!
by Tony,
10/11/2019
Pros: Absolutely nothing positive about LPL
Cons: Worst customer service ever
Review: I have been trying to close my deceased parents’ account for NEARLY TWO YEARS now. Every time I submit the forms they send me, they NEVER respond. I have to call them again, then they claim they never received the form, or it was incorrectly filled out, or I filled out the wrong form, yadda yadda yadda...then they tell me to start over again. EVERY SINGLE TIME. I am wondering if they are crooks or just GROSSLY INCOMPETENT.
WHERE ARE THE CLASS-ACTION ATTORNEYS?
by Jim,
4/21/2019
Pros: Nothing
Cons: Everything
Review: I was with my advisor for years when she was with Morgan Stanley and things fairly well. Well enough to stay with her and follow her over to LPL. BIG MISTAKE. That's when everything changed. No longer was she pushing blue chips and well-known index funds, she started singing the praises of "investments" I've never heard of. Specifically , a non-traded BDC called FS energy and power. Like I fool I trusted her and lost money. Look up FS energy and power fund and the top results are law firms soliciting clients to sue brokers for fraud. Looks like I need to call one.
Avoid LPL like the plague.
by Shawn,
4/4/2019
Pros: None
Cons: Everything
Review: My wife had account when she passed and with no advisers in area that would return call help to fill paperwork I made a few errors.
But every time would talk to someone they would tell few things wrong. I would fix that and fax again and next day there would be something else wrong.
by Larry,
3/27/2019
Pros: Absolutely nothing
Cons: Everything
Review: Here's a few "investment ideas" that are better than investing with LPL:
1. Loaning money to a heroin addict.
2. Playing the lottery.
3. Ponzi schemes.
4. Starting a counterfeit money operation.
by Steve,
2/28/2019
Pros: None
Cons: Worthless
Review: Direct quote from my LPL advisor to convince me that 9% portfolio loss over the past two years was acceptable:
"You're just looking at the overall performance and not last month's gain."
FIRED!
LPL is a joke. Don't invest with them.
by Sarah,
2/24/2019
Pros: Good at lying.
Cons: Sociopathic con-artist completely devoid of any redeeming value whatsoever
Review: Broker traded securities without my knowledge or permission and I lost $38,000 when the company went bankrupt. Yes, I'm sueing . Do not invest with LPL financial unless you want to lose money.
by C. J.,
2/18/2019
Pros: None
Cons: Expensive fees and bad communication
Review: I only went with this firm becouse they were with HomeTrust Bank, which I trusted. I put a little money there to test them out. They are the WORST I've ever seen. When I asked for a list of fees, they would not provide it. The Advisor would not answer his phone, and did not returm my requests for him to call me. They also lied to me. When I closed my IRA, they charged me a non-waiveable $125 fee to close it. DON'T LET THEM HAVE YOUR MONEY. YOU WILL BE SORRY!
by Viola Dagamba,
2/16/2019
Pros: None, unless you consider lying and deception to be an art form.
Cons: Steered us away from regular index funds to what he picked. BIG mistake
Review: Like many others, we made the mistake of investing our small IRAs with them. We still can't figure out how we lost so much money in the past two years when the market was booming. Their fees are outrageous but you won't really find out unless you try to leave.
The salesman is not a qualified advisor and we were so foolish to give him our money because a friend had recommended. Guess what? Less than a year after we signed up with LPL, the friend left and went to another company whose name you would recognize.
Bottom line: bad investments, we would have made way more money in Vanguard or another index fund. Nasty employees and reps who are out to get as much money as they can.
Super high fees that they keep a secret till you want to leave.Then they screw you.
Stick with a reputable index fund unless you know how to invest yourself.
LPL is a loser. DO NOT GO THERE.
by Joseph,
2/9/2019
Pros: None
Cons: Criminals
Review: Spent months attempting to close my account. They always found an excuse not to give my money back to me. Stay away. The worst.
by rick,
1/6/2019
Pros: none
Cons: she lies
Review: I invested $400,000.00 with lpl..with a promise of a 8% return..I never earned a cent from the investment..the fees made the loss in the investment..the advisor which I met with 3 times always had the same song and dance...I knew I should had pulled out 6 months before..do not invest with them previously I had invested with Merrill lynch..same song and dance...I ran into a former Merrill lynch employee.. and he affirmed to me that Merrill lynch needs your money via fees to keep them in business
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