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

[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?