L P L Financial W S

I had been managing my own investments and portfolio for years, but it was time consuming and exhausting trying to manage accounts from numerous previous employers. So, I thought that I would consolidate some of the accounts and allow a custodian/advisor (William "Bill" McNeer) to manage my portfolio.

This was a horrible decision....not only did he manage to lose $22K out of my portfolio in less than 24 months, but he had no problem collecting their advisor fees every quarter. It seemed like every few days, there were investments being bought and sold, sometimes the same investments over and over (and sold at a loss just days/weeks later). I started to question the investments and was told that they were positioning me for a possible downturn. I had another investment portfolio in a 401K plan from a previous employer that actually made 7% during this same time frame.

Never will I trust anyone to manage my portfolio again, unless their success is directly driven upon my success (i.e. if my portfolio loses money, they don't get a commission). Be warned, this company is only focused on collecting their advisor fees and commissions on the investments they constantly buy and sell.