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Commonwealth Financial Network

Engaged Employer

Great until its not - Anonymous employee Commonwealth Financial Network Employee Review

4.0
Nov 28, 2018
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

As many reviews state, there is plenty of free food, talk of professional development, giving back to communities, company events, friendly staff, even some decently friendly advisors.

Cons

The longer you are there the more you realize that the business does not follow what they preach. Work life balance is possible, but many managers will look down on you if you request it - as though you aren't as committed as you should be to the job. They are charitable, but only to local causes - others are usually not accepted if suggested. They care about your professional development, but wont promote you. I've also seen men who do little but their every day job earn a promotion, while women have to work much harder to prove themselves worthy of a promotion. It does also seem weird to have our bonuses reflected by advisor's service scores since not everyone interacts with advisors, and the ones that do often burn out quickly due to the demanding nature of CFN advisors and their staff.

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Commonwealth Financial Network Response
7y
Thank you for taking time to share your detailed feedback with us. You address a number of important issues (work/life balance, opportunities for promotion, gender equity, the front-line staff experience), and I strongly urge you to discuss these with the HR business partner who oversees your area of the business. They are here to help you—and these are issues we care about greatly in terms of our employees’ wellbeing and professional growth. Talking about challenges is the most important step toward finding solutions—for you and for your colleagues. A few other notes you may find helpful: If you have a charitable cause that you would like to support, we encourage you to use your VTO day. In addition, if you are taking part in a fundraiser for that charity, please come speak with Paula O’Shaughnessy in HR about having Commonwealth Cares fund a $250 donation in your name. Advisor satisfaction scores play an important part in calculating our annual bonus, but they’re only a piece of the big picture. No matter what your role is at Commonwealth, we’re all in the business of delivering indispensable service to our colleagues—and that affects the service our advisors receive from front-line staff. If you haven’t attended one of Trap Kloman’s quarterly earnings calls (or if it has been a while), I highly recommend it. He puts the bonus calculation into perspective. We’re glad you still find Commonwealth to be a pretty good place to work. We know there are other great workplaces out there, which is why we value this feedback. Our employees hold us to high standards, and we want to deliver for you.

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Pros

Work culture Work life balance Health insurance plan Feel respected and heard

Cons

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2.0
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Pros

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Cons

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