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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
Nov 11, 2023

Needs Radical Change

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The worker bees work harder than anyone in executive management and are great to work with, too bad VPs will take credit for their work. Snacks are “free” in the office

Cons

- Commonwealth used to promote career development for their employees but they are so strapped for talent, they try to pin as many roles on one person as possible with no promise to help them grow. Good work is rewarded with more work and no recognition. - Leadership is either useless or completely absent. - Culture is all but dead now with the reversal of the hybrid policy from 2 days in office to 3. And let me be clear, people do not mind being in the office. What they do mind, however, is being told that their work is not good enough while being remote, even though many enjoy less distractions and have very efficiently proven their work gets done well from home. - The split of Advisor360 was very abrupt, with many details not clearly defined when the split had happened. This caused a lot of stress on employees and a multi-year project to take technology ownership back on critical tools. Leadership never acknowledged how messy this was or apologized.

2.0
Dec 21, 2021

Stubbornly out of touch

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

At its best, Commonwealth strives to do the right thing by its advisors and employees. The friendliness and caring among employees is mostly genuine. The bonus plan and 401K matching are both pretty generous.

Cons

Commonwealth's history of success is also what's keeping it firmly in the past, with senior leadership and partners refusing to acknowledge the changing technology and employment landscape. The return-to-office process has been chaotic, disregarding employee feedback, all under the guise of "better together", a sentiment not shared by most employees. The company is still run like an "old boys club" with almost zero diversity in leadership and partner positions. Many decisions seem to be pursued or justified because someone FEELS a certain way, regardless of what historical data or business trends suggest. While this worked when the company was a quaint, boutique shop, it is getting in the way of scaling a billion dollar operation. Too many middle managers and "VPs" that have one direct report in some departments and not enough people doing the work in areas that need dire help like technology and marketing.

3.0
Oct 27, 2021
Recommend
CEO approval
Business Outlook

Pros

The service standards are high and this encourages employment of dedicated, educated, hardworking individuals who are wonderful colleagues and friends.

Cons

Upper management is no longer in touch with what truly motivates employees… valuing their own time and $. Forcing outdated ideas of “culture” and free food are not as beneficial to the workplace community as they once were. Employees at every level do not feel heard or valued with ongoing abrasive messages and the lack of transparency and support is severely dulling company morale. Unfortunately CFN is missing the mark lately.

Viewing 16 - 18 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.