employer cover photo
employer logo
employer logo

Commonwealth Financial Network

Engaged Employer

Commonwealth Financial Network reviews

3.8

57% would recommend to a friend

(344 total reviews)

Wayne Bloom

54% approve of CEO

37% positive business outlook

Commonwealth Financial Network has an employee rating of 3.8 out of 5 stars, based on 344 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Commonwealth Financial Network employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

344 reviews
1.0
Apr 26, 2024

Horrible place to work!!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The benefits aren't terrible but not great. "Work/life balance" used to exist but now most departments are severely understaffed and there's no choice but to work overtime. There's a snack room with free snacks but the quality of snacks has gone downhill, just like the company.

Cons

Where to start on the downfall of CFN? After hearing for years how well we're all doing working from home during the pandemic we were told by Wayne Bloom that the reason we didn't make the service score is because we're all working from home. No mention of how awful the technology has been, which is apparent in the daily Advisor Feedback where advisors consistently complain about the horrible technology due to the poorly planned spinoff of Advisor 360. Our work from home policy later turned into 3 days in the office no matter what, with no flexibility to that rule - the company would rather us use PTO than work from home when we're sick. Not to mention, Wayne sits in his office counting badge swipes to make sure we're following this stupid rule. After changing the yearly review process and claiming to give employees more money with a 10% raise, CFN has made bonuses unattainable. Inflation is at an all time high and this company thinks it's perfectly fine to give their employees a 3% raise and a 4% bonus? A 4% bonus isn't even the equivalent of a paycheck for 2 weeks after taxes get taken out. It's an insult to your employees who consistently work hard every single day to make this company run smooth and we get slapped in the face by getting poorer in this economy. Meanwhile, the c-suite is filling their pockets and blaming the worker bees for us not attaining our bonus goals. It's unbelievable. It's truly a disgrace. And they're doing this all so that they can save some money with their ridiculous 1 trillion goal of AUM. Worse yet is that this company isn't taking care of their employees or replacing ones who have quit for better opportunities at new companies leaving many departments severely understaffed. People are leaving in astronomical numbers, people that have been with the company for years and are in an incredibly high position are leaving. If that doesn't tell you to run, I'm not sure what will. This company used to constantly promote from within and actually develop their employees. Meanwhile, an incredible employee within the finance department was constantly turned down for promotions for years and not given any good reason for it. Despite the lack of growth offered to her, she still worked hard and finally left this company for a better job elsewhere last month. That department is so severely understaffed that every single person is miserable and upper management is doing nothing to help fill the void she left. This company is letting their best employees walk out the door and doing nothing to ease the burden off their other employees.

1.0
Aug 25, 2022

Hypocritical leadership

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

People are outstanding and work really hard. They support each other and genuinely care about one another.

Cons

- Not remote - have to be in at least 2 days a week - Not everyone follows the in-office rules, (especially more senior people) and they're not held accountable. Junior employees are policed regularly for regular in office attendance - Air conditioning in Waltham building repeatedly stopped working for days during the height of the heat wave and employees were never given the option to work from home. Yet, mysteriously, the floor where the top brass sits, still had AC... - Aging office furniture, outdated decor, not enough quiet workspaces - For the first year ever, they're not giving employees the 20% bonus that promise in the recruiting process. The bonus is based on service score that employees have no visibility into. They get penalized for bad leadership decisions, insufficient staffing and bad tech that they have no control over. - Their "committee" forced many employees to continue coming into the office even though they had doctor's notes, immuno-compromised family members or infants at home. - Employees are resigning at concerning levels and low salary/poor bennies makes it nearly impossible to fill vacant roles. Employees are burning out and no one cares. - leadership team doesn't reflect diversity of the worker bees - company is run by a bunch of old, white, men - Pay is not competitive, but HR keeps people in more junior titles to justify claims of them being "aligned with the market", yet it's total BS - Ghost stock options that have a negative value and require several years of service to cash in on - pointless benefit - 4 years to be fully vested - Management still thinks food and social events = strong culture. Totally out of touch with modern day workforce - Technology is terrible and they won't spend the money to improve it, but don't hesitate to spend millions on free food and branded swag

2.0
May 31, 2022

Not what it used to be

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

There are great employees that are fantastic to work with. If you get an old school CFN manager it can really be a great place to work.

Cons

Not adapting well to the post pandemic work place. Forcing people back to the office 3 days a week when gas prices hit record highs is a morale killer. Compensation is still lacking the industry and very heavily reliant on the annual bonus and employees individually have very little control over the bonus number. Office location in Waltham is a black hole of traffic, can't afford to live close by and most commutes are over an hour each way. The shift to more woke events makes me want to spend less time in the office.

Viewing 13 - 15 of 344 Reviews

Glassdoor has 440 Commonwealth Financial Network reviews submitted anonymously by Commonwealth Financial Network employees. Read employee reviews and ratings on Glassdoor to decide if Commonwealth Financial Network is right for you.