Edelman Financial Services Reviews

Updated July 16, 2015
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Ric Edelman
9 Ratings

18 Employee Reviews

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  1. Helpful (1)

    Good opportunity in financial services company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Department in Fairfax, VA
    Current Employee - IT Department in Fairfax, VA

    I have been working at Edelman Financial Services full-time

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

    Pros

    - Company is willing to spend money to do things right (office space, technology, analysts). - Higher than market pay. - Bonuses for certain levels of management and for the financial planning staff. - A lot of promoting from within. - Free financial planning and discounted investment fees. - Discounts from affiliates lawyer and tax accountant. - Always updating technology - Bene's/perks like a 6 week sabbatical, free Nats tickets, free Wolf Trap tickets, a Rolex watch for your 10-yr anniversary - They really do try to make it a fun environment.

    Cons

    - You can't carry over PTO. It's use or lose. - Not many cons really :-)

    Advice to Management

    Empower all levels of supervisors and managers. You hired them (or promoted them) for their brains - trust their decision making. You won't be able to grow larger if decision making has to go up the chain so often.


  2. Helpful (2)

    EFS

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Edelman Financial Services

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

    Pros

    Great work environment and great people

    Cons

    Defined path for career growth is a little murky

    Advice to Management

    keep up great work


  3. Helpful (3)

    HR

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Edelman Financial Services

    Pros

    Amazing atmosphere, great people, awesome experience

    Cons

    No cons for this company...


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (16)

    Lacks Transparency

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

    I have been working at Edelman Financial Services full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    - The company hires great people for the most part. - Depending on your supervisor/manager you can work flexible hours - Work/Life Balance is great - They have a few random events throughout the year including: > "Dress Down Day" - Where you can wear jeans for one day > "Glop Day" - The company brings in ice cream and toppings > "Stress Down Day" - Work usually stops at Noon or 1pm and you are encouraged to participate in team building games etc > Various other small holiday events - Food is usually brought in for these - The company really does value the client and will always do whats best for them. It feels good knowing you're not just shoving products down peoples throats.

    Cons

    - It seems the company is positioning itself for a sale or something similar. In the past year or so they have added incredible amounts of management. - The company prides itself on transparency to clients but does the complete opposite with its employees unless you are management or a planner. There is absolutely no transparency when it comes to compensation. The company gives the entire client service department the same raise regardless of performance and bonuses are not to be expected. Additionally, they seems to intentionally like to keep the Client Service Associates out of the loop. Planners have weekly meetings and consistently emerge from their meetings explaining that changes are coming but they can't tell us what. Then we usually find out a few weeks or months later. Or if you are ever involved in an incident report, the CSA's name gets attached to the report and kept permanently potentially impacting your annual review, however unfortunately only managers and planners have access to view those reports so you have no idea what is being said of your involvement in the incident and get no opportunity to appeal whatever is written. - Little to no career development exists. I have heard people being told that if they want to become a planner at Edelman they would be better off going to Fidelity or something similar for a few years and then come back. - The work can be very tedious and it becomes very difficult as your workload increases significantly as the years go on but your pay only increases 3% per year. On the other hand, Planners pay increases exponentially and they are earning 4-10X your salary but work less and less. - 401k match is low for the industry (3% if you contribute 6%) - No tuition reimbursement or assistance obtaining professional designations regardless of how beneficial they are to your job or supposed career path. - Medical/Dental benefits are ok but nothing to write home about

    Advice to Management

    - Consider restructuring compensation to CSA's and Analyst's to incentivize them for good work and years of service. (Perhaps a profit sharing percentage - so as the workload increases with the planner's book size their compensation correlates?) - Be more competitive with your benefits (ie. 401k match & tuition costs) - Don't hire supervisors and managers that have no idea what the people they manage do on a day to day basis. - Work on a career development program if you want to keep your talented employees and DON'T tell them to go elsewhere and come back!!! - Be more transparent with all your employees. Stop treating the planners like gods and everyone else like peasants.

    Edelman Financial Services Response

    May 6, 2015 – Senior Director, HR

    Thank you for your thoughtful review. We believe in hiring great people like you and treating our clients well. We are glad you agree. You are right – we have increased our management team ... More


  6. Helpful (3)

    Specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Specialist in Fairfax, VA
    Current Employee - Specialist in Fairfax, VA

    I have been working at Edelman Financial Services full-time (More than a year)

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

    Pros

    401k match Free financial planning Nats tickets at the diamond level Flexible schedule (depending on dept and manager) Market average salaries or better Secure buildings Pretty modern equipment

    Cons

    Depending on dept, can be hard to know who has final say on things Change is slow but possible Arbitrary office vs. cube assignment (or seemingly) No free soft drinks (but free coffee and stuff)

    Advice to Management

    Give a clear direction but be open to new ideas to improve efficiencies. More lead time for projects would be nice


  7. Helpful (14)

    Disappointing

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

    I worked at Edelman Financial Services

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Nice people. If you like not having to think much you'll like it

    Cons

    Excessive micromanagement, staff isn’t trusted on any level, everything you do is watched, everyone should just punch a clock. The work is repetitive, very strange culture where friends and family move around in top positions, YES and looking the other way is leadership here. This company says they value education above all else but it seems they don’t believe in educating their staff. Theres no credible career development, tuition benefit or training besides your standard licensing and some controlled internal classes.

    Advice to Management

    Get help from outside experts


  8. Helpful (15)

    one of the worst places to work

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

    I worked at Edelman Financial Services

    Pros

    The is nothing positive at this company.

    Cons

    Managers blatantly lie to prospects during hiring interviews. Bait and switch. Staff are belittled for things like weight, skin tone, called stupid behind their back. Do not live up to professed ethics. Avoid this environment. Integrity is non-existent. Dishonest, mean.

    Advice to Management

    Remove managers who do not uphold the values professed by Ric/Jean Edelman.


  9. Helpful (7)

    This is my first positive experience working in the financial services industry. (after many years and many companies)

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

    I have been working at Edelman Financial Services full-time (More than a year)

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

    Pros

    I love my job for the first time in my life. I've never experienced a culture like this and have worked for several big financial firms. No one is just a number here. You "make your own way" though. Like any job- you have to set yourself apart from those that just want to take home a paycheck. The bad reviews on here are most likely people that want to show up, do as little as possible, and get a big raise. This sense of entitlement can be found anywhere you look- the "I deserve something for nothing" crowd. Ric and Jean have built this company to be what it is today, and their open door policy is second to none! I speak from experience, and they do everything they can to make this the best place to work. The benefits and work-life balance are great. Getting promoted is up to you as an individual. The opportunities are available and yours for the taking!!

    Cons

    All successful companies have growing pains- we work through them.

    Advice to Management

    Be careful about making the planners the most important people in the company. The team effort we all have is what makes this work.


  10. Helpful (6)

    Great Company that rewards hard work

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Edelman Financial Services

    Pros

    Edelman has been nothing but a positive experience for me having been here for over five years. They've given me the opportunity to learn many facets of the RIA business, which is very different than my previous experience at a larger firm, where I had a very specific job function, and little exposure to departments outside of my own. They cultivate an environment where I feel comfortable approaching just about anyone- regardless of his or her title- with questions or advice. It's very much a roll up your sleeves and dive in environment, so if you are of the "it's not my job" mindset, then it's probably not the place for you. I've worked hard, asked questions, and taken on the challenges I've been given even if they are a little outside of my normal role, and have been rewarded for doing so. I am not in the home office, but with our many means of communication, I have been able to build strong relationships throughout the firm and across many departments.

    Cons

    We are still working on how to go from a small firm to a large firm, preserving our culture but being realistic with our approach.

    Advice to Management

    Continue to actively communicate firm wide goals and values, and continue to encourage those in leadership roles in the firm to set the example of what it means to live out our core values.


  11. Helpful (8)

    Great transition to Edelman Financial

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Associate in Fairfax, VA
    Current Employee - Client Service Associate in Fairfax, VA

    I have been working at Edelman Financial Services full-time (More than a year)

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

    Pros

    Edelman spends a lot of time and energy maintaining its family culture which goes a long way. There is great support for both personal and professional growth without being fake or contrived. Compared to other firms I've worked for the atmosphere is not stressful. Great pay and benefits. Major commitment to educating clients and outstanding client service. Generous benefits and time off policies from day one.

    Cons

    There is a lot to learn although working with just one planner helps.

    Advice to Management

    Continue to work on communication and providing insight into the company's goals.



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