LPL wait times

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Sep 11, 2007 12:48 pm

Any one else notice the extended wait times for the service center!


What is going on?


 It used to be a minute or two now ten minutes or longer

Sep 11, 2007 1:25 pm

Spiff, I hope you read this.


This is one of the annoyances of LPL. Been here a year from EDJ, and rarely have I been impressed with the service center. It appears to be the training ground for college interns.


It ain't perfect anywhere I guess, if LPL is one of the best of the indies, well let's just say that service to the broker needs serious improvement. Slow response is a pain and costly. Fortunately my assistant takes the brunt of it. But I hear others who say that with the IPO coming cost containment is the order of the day.

Sep 11, 2007 1:28 pm

I think they've slipped a bit recently...probably has a lot to do with training a whole new group in Charlotte.

Sep 11, 2007 1:35 pm

Last night I waited over 10 minutes..and then hung up on retirement operations....called back today..and about 4-5 minute wait time. 

Sep 11, 2007 2:49 pm

I noticed it started late last week and has been getting worse this week. I asked them what was going on and recieved no answer 


I hope it is a training issue.


But this IPO is starting to worry me Not much I can do about it


LPL needs to improve there sevice after all we pay them. If I was at a wire house I would just have to take it up the wazoo 


I dread the thought of moving my book

Sep 11, 2007 3:09 pm

I suspect you guys need a reality check. As one of many going through the AGE/WB debacle, I can say that it's no better anywhere else. Imagine paying your wirehouse 60%+ and still having long waits for support, combined with unreliable information and poor support attitudes. Count your blessings, LPL guys!

Sep 11, 2007 3:55 pm

What in the world are you people talking about??  Waiting on the phone when you call for help at your HQ?  Those people work for you!! They get a cut of your paycheck, you pay your salary.  Say whatever you want about RayJay, but that is a very rare circumstance here.  They are told that the advisors are their clients, and they act that way.


That would drive me nuts.

Sep 11, 2007 4:42 pm

I have been told RJ does it different then LPL.  At RJ there service center is set up by region so when you call you may end up talking to the same person over and over and they also know you and your staff.  


At LPL you rarely talk to the same person and once they become experienced they get promoted to there personal rep. 

Sep 11, 2007 7:04 pm
YHWY:

I suspect you guys need a reality check. As one of many going through the AGE/WB debacle, I can say that it's no better anywhere else. Imagine paying your wirehouse 60%+ and still having long waits for support, combined with unreliable information and poor support attitudes. Count your blessings, LPL guys!


As one of many going through the AGE/WB "debacle" I can honestly say, 'what are you talking about?' I have experianced none of the above. It's a matter of 1 maybe 2 phone calls and the issue is addressed. Sometimes (rarely) it requires a 3rd phone call but that's what an assistant is for.  Long waits? I have never waited for a response.  You call, a real live person picks up. With regards to the poor support attitude, remember, while we all have jobs, some in St Louis won't....that might explain any attitude but, it all boils down to calling the right person.

Sep 11, 2007 7:07 pm

They might do it differently, but I'm not taking a sizeable haircut on my VAs no matter how good their service is...


...and just wait...there will be service issues there also...

Sep 11, 2007 7:44 pm

As one of many going through the AGE/WB "debacle" I can honestly say,
'what are you talking about?' I have experianced none of the above.
It's a matter of 1 maybe 2 phone calls and the issue is addressed.
Sometimes (rarely) it requires a 3rd phone call but that's what an
assistant is for.  Long waits? I have never waited for a response.  You
call, a real live person picks up. With regards to the poor support
attitude, remember, while we all have jobs, some in St Louis
won't....that might explain any attitude but, it all boils down to
calling the right person.
 You are truly a good little worker-bee. Keep it up! If you think AGE's system (for both back office support AND Client ONE technology) isn't a joke for the 60%+ you pay them, you're not being realistic. Good luck with the new pay grid, ticket charges, slashed 401(k) contribution and conflict between the bank & brokerage channel that you still believe are "not carved in stone". "The path of least resistance is a valid career choice!" This shall be your mantra.

Sep 11, 2007 7:48 pm

Please...just leave already. No need to wait, the sooner the better...You'll be sorely missed.....

Sep 11, 2007 7:50 pm

I'm on my way out as we speak. You may want to explore the source of your anger, though. (I'll give you a hint: It's not me).

Sep 11, 2007 7:59 pm

OK, please review your 6:44 post for tenor and tone...

Sep 11, 2007 8:11 pm

Look, shredder, I was sharing my sentiment that the grass isn't any greener over where I am now with the LPL guys who are frustrated by support issues (minor ones, in my opinion). You decided to interject by impugning my description of my experience with AGE's back office (and technology, frankly) support.
 I stand by my description and will always aggressively defend my position when challenged. You seem, IMHO, to have some underlying problems with AGE/WB that are manifesting in your overly vehement defense of its system.
 I wish you the best of luck, in any case.
 I will say that, since I've seen what's out there and made my decision, I honestly feel like a weight has been lifted from me.
Again, good luck!

Sep 11, 2007 9:35 pm

Every firm has issues. Period! Perhaps my experiance is different. I've been at AGE long enough to know (15+) who to call and get things done quickly and painlessly. I am also lucky enough to have an FA that is an attention to detail person. Will that change when WS takes over, maybe. But, importantly, it hasn't yet. I never questioned our anitquated technology but, that is not a driving force in my business and that too will change, proablay for the better.


I have no "underlying problems with AGE/WB that are manifesting in your overly vehement defense of its system". I know what strings to play, that's all. I know who to call to get things done.  For now, I'll stay. Check back 2 years from know and I will have had time to make an informed opinion based on my clients best ineterests and my personal experiance.  Not perception of how things will or might be. (and no, I am not a BOM, just a very content Chairman's producer.)


In the mean time, I'll continue to grow my business and enjoy the benefits I have built into my system. I guess I fall into your thought process below. i.e. I am sure that I'll prosper, probably even more so than today. If not, well, there are plenty of options available. Good luck to you sir....


Per your 9/4 post (YHWY wrote): As you may recall, I'm an AGE guy who is not staying. I plan to go indy very early next year. WB may well be a good fit for many AGE brokers. I think those for whom it will be the best fit are those who have more of a wirehouse mentality to begin with. Wachovia Securities is now a wirehouse. Any debate on this subject is semantic at best.  I'm sure you'll prosper at WB if your heart is in it. I, personally, can't get behind the idea of a pay cut (at my production level (@$310 T12 midway through year 6), indy-sized ticket charges, and almost double minimum ticket amount for payout.

Sep 11, 2007 10:02 pm

shredder, Thanks for including my 9/4 post. You've reinforced my points perfectly. As a 15 yr.+ AGE veteran and Chairman's Council producer, you are exactly the type of person to whom I was referring. You'll do at least as well with WB and you've been in the AGE system so long that you  are justified in feeling like you "know which strings to play". No one can slight you for that. Change is hard and proactive, not reactive, change is even harder. I don't buy your (and others') assertion that things are great and going to get better for AGE brokers compared to having total control of your business and revenue intake that the indy channel offers; that's why I'm leaving. Only you know the reasons you're staying, but inertia undoubtedly plays a role. It still strikes as odd that you are so active in defending the uncertain details about your firm's future.
 Best of luck.

Sep 12, 2007 4:32 pm

OK, I am spoiled but this wait time SUX

Sep 12, 2007 9:37 pm

Hey a guy left my office and the BOM assigned 2 1MM plus accounts to me.

The clients came in this week and both told me they never liked the old

broker anyway!!



His loss = my gain!!!

Sep 12, 2007 11:00 pm
Greenbacks:

OK, I am spoiled but this wait time SUX



It has become considerably worse in the last 3 weeks. I wonder if they've been bringing the PacLife b/d's online.

Only consolation I take is that they are generally very good about addressing these issues.  They are painfully aware of wait times and track them very carefully.   Remember how it was at tax season 2 years ago?  Bad for a few weeks, then they got it fixed quick.  I'm going to hope that's the case now.

That and I'm going to work hard on growing my assets and production so I can get preferential access numbers.....yep, they have 'em for the bigger producers.