LPL - Outside Business

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Apr 9, 2008 11:42 am

Wondering if LPL allows outside business activities and how they are about it...

I'm curious about non-investment-related work:  writing about consumer credit and credit reports etc.  I do not do credit repair, and I am paid by publishers.  Sound like that would be kosher?

Thank you.

Apr 9, 2008 11:46 am
Apr 9, 2008 11:52 am

Forgot to mention that I don't have anybody to ask at this time.  I'm evaluating an offer from an LPL office, so I'm hoping to just get general perceptions (like joedabrkr's -- thank you).

Apr 9, 2008 12:21 pm

They are pretty good about approving stuff that is not a direct conflict of interest with investment advice and management, although they want assurances that the majority of your time will be spent doing investment work.  IRRC, the benchmark when I hired in was something like at least 65% of your time spent doing things that make LPL money.  I do some accounting and tax prep work and they approved with without much fuss when I indicated that it took perhaps 10% of my time.  As of today, I wish they hadn't approved it...I'd be happier and more profitable...

Apr 9, 2008 8:38 pm

Thanks again for the info.

Apr 18, 2008 8:03 am

Looking at a move to LPL as well and I'm curious about how robust their insurance offerings are.  Can anyone shed any light on this?


Apr 18, 2008 11:06 pm

My impression is that this is a weakness for LPL (I've never personally used them), but to their credit, they had no problem approving me doing insurance direct through Capitas, so I view that as a non-issue.

Apr 19, 2008 12:12 am
Apr 19, 2008 9:06 am

Looking at a move to LPL as well and I'm curious about how robust their insurance offerings are.

Maybe it's just me, but I'm not really clear on what you mean by "robust" insurance offerings.  Is there a certain type of insurance you do most, or a certain carrier you prefer, or are you referring to case support?  What are you primarily concerned about?