LPL Financial Brokerage Account Closing and ACAT Fees


LPL Financial account closure fee for Strategic Asset Management (SAM), SAM II, Optimum Market Portfolios, Advisory and Brokerage (OMP), Model Wealth Portfolios (MWP), Personal Wealth Portfolios (PWP) and Manager Select accounts. LPL Financial ACAT fee for 2020.



LPL Financial Account Closing Fee


LPL Financial closing fee is $0. It applies to Strategic Asset Management (SAM), SAM II, Optimum Market Portfolios, Advisory and Brokerage (OMP), Model Wealth Portfolios (MWP), Personal Wealth Portfolios (PWP) and Manager Select accounts.


LPL Financial ACAT Fee


LPL Financial ACAT fee is $125. It applies for processing full account transfer of all assets and positions to another financial institution (excludes retirement accounts).


LPL Financial Brokerage Top Competitors


Broker Review Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
WeBull $0 na na $0 $0
Ally Invest $0 $9.95 $0 + $0.50 per contract $0 $0
M1 Finance $0 na $0 $0 $0


Finding Financial Advisor


If you are looking for a professional money management service in your area, you can search for a Financial Advisor on this website.

Find Financial Advisor



Top Full Service Brokers


There are five full service brokerage firms that could help you manage your wealth. These are the five largest and highest rated wealth management financial advisor investment firms and the largest online discount brokers in U.S.

These companies charge for their advisor services by taking a percentage of your entire assets every year. This fee adds up over the years to an enormous sum. Time after time studies have shown that almost all money managers, wealth and financial advisors underperform The Market in the long run.

Before or after you open your managed financial advisor account with one of these top full service investment firms, you can also open a self-directed brokerage account online with the same company (promotion links are provided in this article), and for just $3-$10 per trade buy ETFs that follow DOW, S&P 500 and NASDAQ as well as some commodities, or for $0-$50 per transaction buy mutual funds that do the same thing, and later see if your advisor full service brokerage firm account will give you a higher return than your self-directed account.


LPL Financial Account Pros and Cons


The Good


  • Financial Advisors philosophy and the way they work with clients on a personal level
  • Proven track record
  • Privately owned firm that many clients feel has their best financial interest in mind


The Bad


  • High fees
  • No online trading
  • Advisors might be pushing clients the products for which they get higher commission


LPL Financial Overview Conclusion


The biggest is not always the best. The cheapest doesn’t always offer the best products and services. When you find a company that you feel comfortable with and can relate to then you found your perfect match. Your future will ride on your decisions you make today. Be very cautious when asking someone to help you map out your future.