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Commonwealth Financial Network

Engaged Employer

Commonwealth Financial Network reviews

3.8

57% would recommend to a friend

(128 total reviews)

Wayne Bloom

54% approve of CEO

37% positive business outlook

Reviews by job title

128 reviews

Reviews about "Compensation"

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5.0
Nov 8, 2021
Recommend
CEO approval
Business Outlook

Pros

People, Benefits, Bonus, Technology, Work, From, Home

Cons

Management, Advisors, Can, Be, Rude

4.0
Nov 7, 2021

Brokerage Cashier

Recommend
CEO approval
Business Outlook

Pros

Great place to work, great culture, good benefits.

Cons

Lower salary, unorganized management, demanding advisors and staff,

1.0
Jul 31, 2021
Recommend
CEO approval
Business Outlook

Pros

Free coffee is offered for all employees and the company puts on many company events.

Cons

When I first started at Commonwealth the company would win top 25 places to work in Boston. As my time went on the focus shifted from caring about employees to the bottom line. Wayne Bloom is your stereotypical 1% CEO, he will look you square in the face and tell he cares then make a decision based on the bottom line. When the company decided it was time to go back to the office Wayne held an all company meeting, when questions started coming in (that he didn’t like) you could tell he was visibly angered and quite frankly couldn’t control his emotion. Since that meeting (months ago) Wayne has not addressed our staff or provided an update on the current state of the pandemic . Commonwealth has two main offices one in Boston and the other in California and employees are treated much differently ( California has more employee center labor laws). In California things are more laid back, there’s less accountability, and more flexibility in your schedule. In Waltham be prepared for your manager to break out the rule book. Furthermore, the company struggles with technology. Be prepared for constant break downs and outages. The company will expect you to explain these to our advisor field. The pay is competitive but not great and the company no longer focuses on the employee experience. I’d recommend finding a company that cares more about hour employees. If you want to sell your soul work for CFN. Not remote work friendly.

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Commonwealth Financial Network Response
4y
Dear Former Employee, Gee, do we get anything right! No doubt we haven’t been as good as we’ve historically been as we’re not as effective working remotely. That said, we did recently win our 8th consecutive JD Power Award for how we support our clients—more than 2,000 independent financial Advisors! While I understand that some would like even more flexibility in our work schedules, we feel great about our hybrid approach where we’ve gone from a primarily 5-day per week on-prem workforce to offering two days of remote working. As for communication, we’ve had all-staff town halls, and we publish a weekly newsletter with all our current COVID-related thinking. It may not be perfect, but we’re doing our best to keep everyone informed. I have also found our town halls to be extremely friendly, with folks asking questions and us answering them to the best of our ability. Your perception is your reality, and I respect all that you’ve written. I would respectfully push back on your assertion that I’ve made decisions based on the bottom line at the expense of my team—never have—and never will as Commonwealth is nothing without our dedicated staff, and I value every one of them. Thanks for spelling my name right ;) Stay safe out there, Wayne
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