American Portfolios

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American Portfolios Reviews

1 Review

3.0
1 Review

Recommend to a friend
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Lon T. Dolber
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Employee Reviews

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  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

    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 ManagementAdvice

    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.

    Doesn't Recommend

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