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Commonwealth Financial Network

Engaged Employer

Used to be AMAZING, until recently... - Anonymous employee Commonwealth Financial Network Employee Review

1.0
Sep 11, 2024
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

- Mostly good and genuine people - Good health insurance plans, 401k match - Some extremely knowledgeable people across the organization.

Cons

Where do I start... I've been here a few years, feels like I've worked for 3 different companies: pre-pandemic, COVID times, and post-pandemic. Yes I understand that with growth and change, things might be rocky but when you don't plan this well, you become what CFN is today. The IT org is still dealing with pain points due to poor planning of A360 split, on top of that senior leadership introduced this new operating model (ok great!) but they never fixed the root cause of the issues, outdated processes. On top of that, as employees have been leaving, the organization decided to minimize hiring. Advisor requests, demands are always increasing, technology is rapidly evolving, management wants to adopt everything, meet advisor demands (service score), force all poorly planned changes on the organization as well as advisors, and then blame employees for poor service scores, advisor complaints, and eventually, kill the bonus... Some people in IT, both at IC as well as Leadership roles don't deserve to be in this field of work, they have little to no knowledge of how an IT org should work, they have somehow survived at CFN. Also, seems like there are one set of rules for some teams and a different set of rules for others, you might feel you're working for 2 different companies depending on your manager. The whole compensation change in 2023 seemed great initially but here in 2024, we're back to being underpaid when compared to similar roles elsewhere. My current base salary is same as someone who was hired 3 yrs ago in the same role; but overall I make less now since the bonus structure was changed from 20% to 10%. Number of stock options have been slashed drastically

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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