Custom House Global Fund Services

  www.customhousegroup.com
  www.customhousegroup.com

Custom House Global Fund Services Reviews

Updated October 30, 2014
Updated October 30, 2014
10 Reviews
2.3
10 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
(no image)
CEO
0 Ratings

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great entry level company to learn the financial services industry, but this is just a job, not a career path company.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Fund Accountant in Chicago, IL
    Former Employee - Fund Accountant in Chicago, IL

    I worked at Custom House Global Fund Services

    Pros

    Custom House is a good place to work as an entry level position. You will learn a lot about the hedge fund administration and financial services industries. The working environment is very causal and the majority of employees are young (recent college grads). Vacation time is excellent and the working week is only 37.5 hours per week.

    Cons

    -There is very little room growth within the company without working there for years, with little increase in pay once an promotion is given
    -The job gets very routine as you will be completing the same work month after month, and after some time you will not be challenged by the work
    -Training is on the job and employees are not really explained "why" things are done, but "how" they are done. This leads to problems down the road as employees lack the skills to communicate basic financial terms and information to its clients and auditors
    -There is an extreme lack of communication from the top down
    -The pay is low compared to other companies of the same industry
    -A lack of new clients brings to much free time, management does not give its employees additional work or training to fill this time. Boredom sets in and most employees fill there time by taking hourly smoke breaks or Starbuck runs; anything to kill as much time as possible. Internet is limited to financial and banking websites only

    Advice to ManagementAdvice

    Train and teach new employees about the company and the fundamentals of the hedge fund administration industry. Upper management needs to more open about what is happening in the company so its employees actually know what is going on within the company it works for. Cross training in various departments will help its employees understand all concepts of the company. Challenge and reward its employees will make people feel like they are appreciated.

    Doesn't Recommend
  2.  

    Invest in training and review process

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fund Administrative in Chicago, IL
    Former Employee - Fund Administrative in Chicago, IL

    I worked at Custom House Global Fund Services as an intern (less than an year)

    Pros

    People are really nice and will help if you ask.

    Cons

    As an intern I expected some formal training system.
    I was given to a new hire who taught me as if I already knew all the systems they used.
    There was no real frame work to the training. It was all very scattered.

    Advice to ManagementAdvice

    In vest in a formal training program or have people with experience teaching others.

    Doesn't Recommend
    Neutral Outlook
  3. 1 person found this helpful  

    A good place to waste your time

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

    I worked at Custom House Global Fund Services full-time (more than 3 years)

    Pros

    Sure, once you join the company, you will find that you will have plenty of free time to kill. Most of the time, there is nothing for you to do for the whole day. It would be fine if you didn't let the boredom kill you.

    Cons

    No annual standard cost of living raise
    No positions to promote you to
    No room to grow
    No one to complain all the above to

    Advice to ManagementAdvice

    The management is fully aware of the situation but turns a blind eye. As long as they are getting their own annual raise and bonus, why should they care about you being under paid? The best way to resolve the situation is to look for another job like I did.

    Doesn't Recommend
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    Bad experience - Fund administrator section only.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fund Administrator in Chicago, IL
    Former Employee - Fund Administrator in Chicago, IL

    I worked at Custom House Global Fund Services full-time (less than an year)

    Pros

    Great pay, good benefits(so I read, wasn't kept long enough to find out), good hours, great additional benefits.

    Cons

    I was poorly trained. I maybe SAW 1-2 transactions in a given day my first week. I didn't do my own transaction until the first Friday and I had not done the type of transaction before, but I was expected to do it without knowing exactly how. The transactions I did daily required PDF forms of signatures for every transaction. Every transaction I worked on had different locations for files and some were difficult to locate. I had 2 trainers tell me how to find the signatures and files their way(both slightly different). Their methods were fine for their funds, but were not they same for all other funds. I did transactions the way my trainers taught me and then I was scolded by my three sub bosses for being wrong. I finally had a sub boss show me how to find items easier. It worked for a few funds but not all. I even had to show them(sub-bosses). Make an error while in training and your trainer will say something, your three sub bosses inform you of your error and your supervisor for the sub bosses also tells you. Sadly I did not pick up and understand what needed to be done for transactions until the last week before I was fired.

    Before my first week ended I was spoken to about several issues my supervisors had with me. Most of which had nothing to do with my work. One was I asked to many questions about transactions. I was told in regards to my questioning work related items (by one of my supervisors in that meeting) that I should "maybe do more and ask less" at that meeting. How am I suppose to do my job if I don't know why something is being done? Basically any question I asked of a fellow coworker or even a sub-boss I would be scrutinized by a higher boss. From then on I consistently felt I was under the gun of you're going to be terminated, and most of that feeling was just from my first week's meeting. When they did call me into an office to be let go/fired I was immediately relieved of all the stress of the job. Of course I was unhappy of my performance of the job (not being as good as I thought I could have been), and that they decided to let me go, but the stress was over.

    Advice to ManagementAdvice

    For Fund Administrators there should be a more concise, regimented, and consistent training program. Review of your supervisors.

    Doesn't Recommend
    Positive Outlook
  6.  

    A Good Place For Going Nowhere

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Senior Fund Accountant in Chicago, IL
    Former Employee - Senior Fund Accountant in Chicago, IL

    I worked at Custom House Global Fund Services

    Pros

    Custom House offers good health benefits and a decent amount of PTO. Also, when you first start out (~ 1 year or so, or until you get promoted), your hours are good (37.5 per week). You are left with a lot of time for other pursuits like looking for another job.

    Cons

    Your coworkers will, in general, be lazy and undereducated. Custom House doesn't pay enough to hire quality employees and if they get lucky enough to do so, they don't pay enough to retain them beyond 2 years. Proof positive: there are 2 CPAs in an office of 60+. Those that have moved up the ranks are generally competent but have been switched from the core competency of the company (issuing NAVs for hedge funds) to nonsense positions like "business development" or "business operations" which add little to no value to the company. The result is a group of overpaid, cliquey employees who don't want anything to due with issuing NAVs, and a group of underpaid, unhappy employees actually completing the work necessary for the company to make money. This is a recipe for resentment and discontent.

    Should you work hard but not take part in political positioning you will be rewarded with marginal raises (5-10%) and marginal bonuses (3-5%) while seeing your workload increase considerably. What is your reward for working overtime? In the real world it would be....OVERTIME. Not at Custom House. If you have been assigned more work than you can accomplish in your allotted 37.5 hours (aka the weekly time upon which your salary is based), tough luck. You will be paid for 37.5 hrs of work whether you work 50 or, in the case of most employees, 10-15.

    Advice to ManagementAdvice

    Fire the bottom 15 people, give bonuses and raises to the high performers in in the core competency areas of the firm and reassign those that have been with the company for 4+ years to roles where they interact with and improve the work of newer employees.

    Doesn't Recommend
  7.  

    Good time - Learned a lot

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Custom House Global Fund Services full-time

    Pros

    I got great Exposure working here

    Cons

    Politics and slow to innovate

    Advice to ManagementAdvice

    Move forward aggressively - Innovate

  8.  

    Good for entry-level positions

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

    I worked at Custom House Global Fund Services full-time

    Pros

    There is work life balance and good learning opportunities for people without much experience in finance. Positions can provide insights into the hedge funds administration business. Colleagues are friendly.

    Cons

    There may be little growth unless the company has plans to expand. Hierarchy is rather flat and there is very little pay adjustment each year.

    Advice to ManagementAdvice

    There seem to be little concern in grooming the staff of the company. Can strive to provide more training courses to keep staff motivated and up to date.

    Recommends
    Neutral Outlook
  9.  

    Good entry level job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Custom House Global Fund Services

    Pros

    The people are great, but the job is not.

    Cons

    Underpay, Poor management, No Bonus,

  10.  

    A Great place to build a good foundation

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

    I worked at Custom House Global Fund Services

    Pros

    Nice environment to work for freshers who seek carrer in hedge fund. Different culture people to work with makes the company a good choice.

    Cons

    Timezone difference can play a big part when working of with projects or handling clients.Timezone difference can play a big part when working of with projects or handling clients.

    Advice to ManagementAdvice

    Nothing much to say as most of them are experience staff who moved up the corporate ladder who know how to run the firm.

    Recommends
  11.  

    Bored & Frustrated - Felt like I was rotting slowly over there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Fund Accountant - Singapore
    Former Employee - Fund Accountant - Singapore

    I worked at Custom House Global Fund Services

    Pros

    + Work - life balance good in the past (Not so since the new COO came over from Equity Trust)
    + Interactions at work is good, friendly.
    + Almost impossible to get fired.

    Cons

    - IT functions can be in a mess on random days and either of their 4 different timezone office is bound to be much affected as they geographically cover most of the time zones.
    - Low pay, Lowered headcounts, Ever increasing workload. Looks like they figured out paying OT is cheaper than hiring in the other offices.
    - Flat Hierarchy leads to few promotions - politics.
    - Suggestions often knocked back without reaching the Senior management.
    - Information exchange very much frowned upon and could be recorded unless it is purely work.
    - Very rigid & regimental management system.
    - Almost no choice of departments to transfer to as the company can still be considered relatively small - very few departments.
    - Any transfer of departments would be be very much based on your pay and not interests.

    Advice to ManagementAdvice

    Don't squeeze your employees so much. There is simply too few perks and too many cons. Getting rid of the COO would be the quicker way to make everyone happier and the company more attractive to job hunters.

    Doesn't Recommend

Work at Custom House Global Fund Services? Share Your Experiences

Custom House Global Fund Services

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.