The impedance of $C_p$ is
$$ Z_p(\omega) = {1 \over i \omega C_p } $$
and the impedance of the other branch is
$$ Z_s(\omega) = R + i \omega L + {1 \over i \omega C_s} $$
and the impedance of the entire crystal is the parallel combination of these:
$$ Z_x(\omega) = \left( {1\over Z_p(\omega)} + {1\over Z_s(\omega)} \right)^{-1} $$
Typical values for an approximately 14 MHz crystal are:
$$\begin{align}
R &= 7.37 \:\Omega\\
C_s &= 18.8\:\mathrm{fF}\\
C_p &= 4.15\:\mathrm{pF}\\
L &= 6.57\:\mathrm{mH}
\end{align}$$
At 1.4 MHz:
$$ \begin{align}
Z_p(2\pi 1400000) &= 0-27393i\\
Z_s(2\pi 1400000) &= 7.37 - 5989128i\\
Z_x(2\pi 1400000) &= 0.000152779-27269i
\end{align}$$
An LCR meter is probably just measuring the magnitude of the voltage when applying a known AC current, so it will be off by a factor of:
$$ {|Z_x(2\pi 1400000)| \over |Z_p(2\pi 1400000)|} = 0.995447 $$
So for this particular crystal, measuring the impedance with an LCR meter (assuming no other inaccuracy in the device) at approximately 1/10th the serial resonance frequency of the crystal yields an error of less than 1%.
So, given an LCR meter that can be accurate with a reactance on the order of 30kΩ, this is not a bad way to go.