American Portfolios

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American Portfolios Reviews

Updated April 5, 2015
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3.9
6 Reviews
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Recommend to a friend
Approve of CEO
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Lon T. Dolber
4 Ratings

Employee Reviews

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  1. American Portfolios

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at American Portfolios

    Pros

    Great team. Very nice people.

    Cons

    yet to find one. Well structured firm.

  2. Watch you back...rampant nepotism. Best case scenario: Learn & Leave

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Holbrook, NY
    Current Employee - Anonymous Employee in Holbrook, NY

    I have been working at American Portfolios full-time (more than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    CEO has vision and charisma.

    Cons

    People disappear constantly. If your not a family member or friends with the family in some way, their are different rules that will apply to you. This company has grown beyond their abilities, especially the VPs that are related to the very talented CEO. What a shame. Also, the pay is lower than industry standards. Don't waste your time unless you are there to learn and leave.

    Advice to Management

    The CEO needs to look at his VPs carefully. They slow the process down, don't show up for their own meetings and take forever to get to their "part of the process" like approving things. This make others look bad, and at the end of the day they are not worth their salt.

  3. Great place to learn and grow.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Holbrook, NY
    Former Employee - Anonymous Employee in Holbrook, NY

    I worked at American Portfolios full-time (more than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Excellent place to learn and gain experience in financial services industry. Staff is extremely friendly and helpful in every way.

    Cons

    Pay is low for industry standards and this causes most younger employees to leave after a few years.

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  5. A good company but sadly the OSJ was a dud.

    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

    I worked at American Portfolios full-time (more than 3 years)

    Approves of CEO
    Approves of CEO

    Pros

    The back office was friendly and helpful. The CEO was a producer so he knows the challenges we face as advisors so he and his team do their best to streamline the processes as much as possible within the regulatory guidelines. The technology was easy to understand and implement.

    Cons

    My OSJ was only concerned about himself and not the advisors in his group.

    Advice to Management

    Do a better job managing the OSJ's

  6. Independent Financial Planning

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    Current Employee - Independent Financial Representative in Lansing, MI
    Current Employee - Independent Financial Representative in Lansing, MI

    I have been working at American Portfolios full-time (more than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    American Portfolios is a company that is continuously increasing their number of Independent Reps. With the growth that they are experiencing they are doing a very good job keeping up their internal staffing to satisfy the needs of the Reps in the field. Supporting our Veterans is a very admirable trait. Kudos to you!!

    Cons

    Being in the Independent Financial Planning world you are pretty much in charge of your happiness. As far as the Cons for this Broker Dealer I cannot name one.

    Advice to Management

    Mr. Dolber has surrounded himself with very good people.

  7. Helpful (1)

    It depends on who your boss is.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Holbrook, NY
    Former Employee - Anonymous Employee in Holbrook, NY

    I worked at American Portfolios

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Sound financial decisions by the CEO, good ethics with declining TARP money and not laying anyone off during the economic crisis. Most of the people are fun to work with, and they are welcoming to new employees.

    There is a decent amount of professionalism--dress code, HR making an effort to create and enforce policies consistently, and an awareness of what is and is not appropriate behavior. The firm seemed to be making an effort to be inclusive and promote diversity.

    Several of the supervisors are extremely dedicated to their jobs, but in a good way in that they give their employees what they need for their work and then get out of the way. Likewise, many of the reps are polite and cordial on the telephone.

    Cons

    It is a family-run business, with all the nepotism that entails, and unfortunately that is where the headline comes in. If you get one of the family members for a boss, you will witness homestyle bickering both in meetings and in front of vendors. Likewise, with at least one manager, DNA counted for more than ability, and her micromanagement, penchant for changing the rules midstream without informing her staff, and special treatment with rolling in mid-morning when other staff would be fired for the same behavior have driven away two bright, talented employees.

    The benefits, at least in 2009, were skimpy, with only 3 sick days per year, none of which could be carried over. That may have changed. Likewise, the salary was lower than that of comparable positions in other firms. Although it is to the CEO's great credit that he did not lay anyone off during the meltdown, there is one staff member to every 10 reps, which is a tough workload for the staff and twice what you will find at other firms. Likewise, the HR staff was overworked and sometimes things fell through the cracks.

    Advice to Management

    It's great to hire young people, but do it because they are gifted, not because they will take a lower salary. It's also great to love your family, but that doesn't mean they are all well-qualified for the jobs they want. Hold family members to the same standards as everyone else, or you risk fostering resentment and turnover in the ranks. Trust the staff to be responsible, as people tend to live up to the expectations you place on them, and nip micromanagement in the bud wherever it crops up.

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