So no action, ritual, or thing that you do helps because God's grace doesn't depend on our works. OnceSome Protestants believe once you're saved there is nothing you can do to jeopardize your salvation. Others believe it is possible to lose it.
The difference is that Protestants don't believe anything a man does matters as long as he has faith in Jesusfollows the five solas (faith, scripture, Christ, grace, and glory to God alone) he is saved by grace alone. The LDS believe that if you have faith you will repent, be baptized, receive the Holy Ghost, and endure to the end; then you will be saved by grace.