LPL - Outside Business
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?
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).
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…
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?
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.
[quote=haywood]Looking at a move to LPL as well and I’m curious about how robust their insurance offerings are. [/quote]
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?