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Commonwealth Financial Network

Engaged Employer

Horrible place to work!! - Anonymous employee Commonwealth Financial Network Employee Review

1.0
Apr 26, 2024
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.

Explore other reviews about Commonwealth Financial Network

5.0
Jul 14, 2026
Recommend
CEO approval
Business Outlook

Pros

Greatest place for co-op experience

Cons

Nothing to report here folks

2.0
Jul 15, 2026
Recommend
CEO approval
Business Outlook

Pros

Benefits, work/life balance, hybrid schedule, travel

Cons

Sold to LPL financial, lack of transparency.

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