Custom House Global Fund Services

  www.customhousegroup.com
  www.customhousegroup.com
Work in HR? Unlock Free Profile
There are newer employer reviews for Custom House Global Fund Services

 

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

8 Other Employee Reviews for Custom House Global Fund Services (View Most Recent)

Sort: Rating Date
  1. 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 for 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
  2.  

    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 for less than a 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
There are newer employer reviews for Custom House Global Fund Services

Worked for Custom House Global Fund Services? Contribute to the Community!

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