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Author: burbil Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19219  
Subject: Re: Financial Services Date: 3/13/2007 3:58 PM
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Speaking as a former customer......BE VERY CAREFULL. There's bears out there. Seriously, the wife and I had an account through one of their linked financial advisors. Very smooth individual. Her father had a BIG account with them and convinced her to try this advisor out. He immediatly put 90% of our funds into LPL proprietary "C funds". Until I wised up and yanked the money out of his hands, though we made a small income from the funds, the advisors MONTHLY fees ate up all of it and LPL annuals finished it off. We ended up with less money than we started with on ALL the LPL funds we were put in. The only thing which kept us even were the investments that were simply journaled into the account (and not sold for reinvestment elsewhere). In 2 years we made a net gain of .01%.

His rational for putting the money into the funds...no cost to us, ie no brokerage fees. Sounded good, but oh the FEES. Time frame for this was after the 2000 tech crash.
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