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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
3.0
Aug 2, 2023
Recommend
CEO approval
Business Outlook

Pros

The culture is amazing. Fun company events. Nice downtown San Diego location. Depending on the department you’re in, you can learn a lot about the industry. They will pay for your licenses. You get tuition reimbursement, 401k matching and stocks. Everyone is really encouraging and supportive. Great starting role for someone new to the industry.

Cons

Pay should be more competitive. You’re fully vested on your 401k after 4 years. You have to pay for parking for the downtown location. There could be more diversity in the company especially in top management positions. Medical insurance could be better. Some advisors and their offices can be rude and demanding sometimes treating you as if you work for them. For this position you are always on the phone which can be tiring especially on busy seasons. CEO is mandating people to report to offices 3 days instead of 2 but downsized the San Diego office to one floor with not enough desks for everyone. Frankly, it doesn’t make sense. Most employees can conduct their job responsibilities and duties more efficiently and happier at home. We got through the whole pandemic working remote and everyone was happy and our numbers were still good. We’ve continued to receive awards for our great service to advisors. I don’t understand the fixation with forcing people to commute to work and literally do the same thing they can do at home. You have to spend on gas, $150+ a month on parking. You should empower your employees to decide what work scenario works for them.

2.0
Oct 23, 2015

Gone downhill

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

When I first started working there the culture was great, friendly, fun, work hard, play hard. They truly seemed to value their employees. But over the years, the CEO position changed hands and the new CEO put a lot of stress on the upper management who, in turn, trickled it down to the underlings. (by the way, the CEO referenced on this website is not the CEO, he is the Vice Chair)

Cons

Way too much emphasis on after hours drinking, with the partners being the worst offenders. I'm surprised most of them have not be pulled over for OUI. Over the years my supervisors changed. The last one was a bully. If you complained to her supervisor and she spoke to my supervisor, the repercussions were not pleasant. They required you to be available for extra curricular activities, including weekends and indeed, were rated on your participation in your semi-annual review. The upper management people were under total stress from the CEO. My supervisor was never available for information or advice on a project and most of the time wasn't even aware of what my assignments from other people were. I can't tell you how many times I went to her or those above her with questions on a project and got "I can't talk to you now. I'm too busy", and of course never found the time to answer my questions but yet I was still required to accomplish my task on time and efficiently. There are way too many relatives there. If you have a problem with one of them, good luck. They will always come out ahead.

1.0
Jun 28, 2024

STAY AWAY! This place is a JOKE!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Good money and lack of any accountability

Cons

CEO is a complete a-hole. Demands everyone come to office and then spends tons of resources to pull logs each week of everyones badges to report out. Yet, they are OK to provide exceptions for people who live out of state but will not let people leave MA to work remotely. He is easily the largest security risk in the organization. Meanwhile, I have never met a leadership team with LESS knowledge of technology. Partners CONSISTENTLY make every exception in the book (going against policy and security recommendations) to advisors at the risk of the internal employee, the customer experience, and setting proper security posture and expectations with the community. They tout their culture as being "Anything but Common" and they're close - it's better said as "Anything but Commonwealth" Most of the staff here would NEVER be hired in their roles elsewhere. This place is full of nepotism and "who you know" to get a great executive role. People only stay because they have no other option of being hired anywhere else. Double-standards are really their main operating model.

Viewing 22 - 24 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.