Marked as
Last updated - December 17, 2025
User Score
Trust Score
Brand Score
LPL Financial LLC is one of the largest independent broker-dealer and investment advisory firms in the United States, providing brokerage, advisory, and compliance support services to financial professionals. The firm serves independent advisors, financial institutions, and wealth-management practices through a platform of investment products, technology, and operational support.
Adviser
High Risk
Based on the available data, we advise consumers to avoid this Company altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Company.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
Based on the available data, we recommend investors and bankers proceed with caution regarding this Company.
This advisory is informed by a medium-risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Financial involvement with this entity may carry moderate risks to your interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
CEO
Established
Headquarters
Main Office
Jurisdiction
Category
Sub-Category
Revenue
Advisors
Institutions Served
Stock Ticker
FINRA Supervision Fine
SEC Off-Channel Fine
FINRA Penny Stock Fine
SEC Blue Sheet Fine
FINRA Direct Trades Fine
Cyber Risk
Data Breach Incident
Adverse Media
Criminal Convictions
High-Risk Accounts
In July 2023, FINRA fined LPL Financial LLC $3 million and ordered $100,000 in restitution for failing to supervise wire transfers and detect forged electronic signatures between May 2018 and August 2020, allowing $2.4 million in customer funds to be misappropriated.
In May 2025, the SEC fined LPL Financial LLC $18 million for longstanding failures in its customer identification program from May 2019 through December 2023, including not closing high-risk accounts like those related to cannabis and foreign entities.
In December 2020, FINRA fined LPL Financial LLC $6.5 million for failing to maintain a supervisory system for record retention from January 2014 to September 2019, including not preserving electronic records in WORM format and allowing a disqualified person to affiliate with the firm.
In January 2024, FINRA fined LPL Financial LLC $5.5 million and ordered $650,000 in restitution for supervisory failures from January 2012 to November 2022, including allowing unsuitable mutual fund purchases that caused $546,000 in excessive sales charges.
In October 2018, FINRA fined LPL Financial LLC $2.75 million for failing to report dozens of customer complaints on Forms U4 and U5 and for AML program deficiencies spanning over three years.
In December 2024, FINRA censured and fined LPL Financial LLC $900,000 for submitting approximately 5,800 inaccurate blue sheets from February 2010 to July 2021, affecting about 205,000 transactions in violation of FINRA Rules 8211, 8213, and 2010.
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
LPL Financial LLC: $18M SEC Slap for AML Blunders That Let High-Risk Scams Thrive
First Detected
Sentiment Analysis
Reach
POV
Risk Factor
Type
Traffic Source
SERP
Share of Voice
Primary Keyword
LPL Financial agreed to pay an $18M SEC settlement over anti-money-laundering failures, including weak customer ID and high-risk account oversight.
LPL Financial settles SEC AML charges $18M penalty and compliance reforms tied to customer ID and high-risk account oversight failures.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
Ultimate Beneficial Owner(s) (UBOs)
Shareholding structure
Associated entities & subsidiaries
Offshore / shell company links
Trusts / Nominee arrangements
Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
1
2.5
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
Δ
While LPL offers extensive compliance and advisory support, there have been occasional regulatory inquiries and arbitration cases involving financial advisors associated with the firm. Even if the firm isn’t directly at fault, the volume of advisors increases the likelihood of inconsistent practices.
1/5
3/5
LPL Financial may be one of the largest independent broker-dealers in the U.S., but size doesn’t automatically equal perfect service or reliability. Some independent advisors and clients have reported issues with slow account processing, system glitches, and occasional compliance oversights.
2/5
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