Is LPL Financial legit?

Review of LPL Financial 2021. LPL Financial is the largest independent broker-dealer in the U.S. based on gross revenue. The bottom line: LPL Financial is a massive independent broker-dealer and registered investment advisor, with affiliated advisors all across the country.

How do LPL Financial advisors get paid?

LPL and its financial professionals are compensated directly by customers and indirectly from the investments made by customers. When customers pay us, we typically are paid an upfront commission or sales load at the time of the transaction and in some cases a deferred sales charge.

What kind of company is LPL Financial?

independent broker-dealer
(commonly referred to as LPL Financial) was founded in 1989 and is considered the largest independent broker-dealer in the United States….LPL Financial.

Type	Public
Industry	Financial services
Founded	1989
Headquarters	San Diego, California, United States

Is LPL Financial a fiduciary company?

As an investment advisor, LPL has a fiduciary responsibility to its advisory clients and, as such, is obligated to act in the best interests of clients and make full and fair disclosure of all material conflicts of interest. The client pays a flat fee or hourly fee for this type of service, which is not ongoing.

Who does LPL Financial clear through?

Clearing firms used by the top independent broker-dealers Click column headers to sort fields…

Rank	Broker-dealer	Clearing firm
	lpl.com
2	AIG Advisor Group Inc.
	aigadvisorgroup.com
	Advantage Capital Corp.	Pershing LLC

Is LPL Financial FDIC insured?

LPL Financial’s Insured Cash Account program allows for all of your available cash balance to be FDIC insured up to $1.5 million for individual accounts and up to $3 million for joint accounts. The Insured Cash Account program leverages multiple banks so you can enjoy higher FDIC insurance coverage.

Is LPL Financial Self-clearing?

As a self-clearing broker/dealer, your trades are completed quickly and effectively. In fact, because LPL is self-clearing, you can open 99.5% of common account types online, including most advisory accounts, and immediately start performing trades.

Is cetera self-clearing?

Founded in 1984, Cetera Investment Services is an experienced, self-clearing broker-dealer serving the clients of over 500 financial institutions, in all 50 states.

Who are the financial advisors of LPL Financial?

LPL Financial is an organization of independent financial advisors. The firm provides proprietary technology, brokerage and investment advisory services to more than 14,000 financial advisors and 700 financial institutions, who in turn serve investors across the nation.

How much does LPL Financial Services charge per hour?

That said, the firm typically charges for financial planning consulting services on an hourly or per plan basis, which is a flat rate. The maximum hourly fee that LPL advisors will charge is typically $400 per hour, while the maximum flat fee is typically $15,000.

What’s the maximum fee for LPL asset management?

The third-party asset management programs bear a maximum fee of 2.00%, while the maximum advisory fee for LPL’s customized advisory services, IPA and other participant advice services is 1.50%. Clients pay the fee to LPL, which then shares the fee with the advisor or institution.

What are the pros and cons of LPL Financial?

Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor. This rating reflects the overall rating of LPL Financial and is not affected by filters. Want more demographic options? Coming soon!

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