Edelman Financial Services

www.edelmanfinancial.com
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11 people found this helpful  

A Great Opportunity To Get Licensed

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

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

Pros

-15 days Paid time off, 401k match 30% match on the first 10% employee contribution
-Great work life balance (if you're paired with a respectful/courteous financial planner)
 -Firm offers you the opportunity to get licenses (series 6,7,63,65,66). Have to be licensed within one year anniversary (although I know people that are still at the firm without being licensed after 1 year)
- Casual DressCode: No Suits/Ties required (unless for seminar events
-Decent pay for a "secretary position"
-Small firm, great training program for 2-4 weeks in Fairfax, VA

Cons

-Excessive Micromanagement by Client Service Managers/Supervisors run a big risk of ruining a truly great firm built by a great CEO (Ric Edelman) that truly wants to help the average investor
-Something interesting I noticed, although its "Equal Opportunity Employer", Yet there is not a single Male individual in a supervisory/managerial role in the operations/client service department in the firm
-"Open Door Policy" is promoted, however in reality anything that is said can and will be used against you even when the intention is for a positive change

Advice to ManagementAdvice

Focus on hiring respectful, positive financial planners that have great listening skills. Anyone can sell and bring in new assets under management, but it takes someone that has the right people skill that truly respects opinion of others in their office. Ric has built a world class company, that truly is aimed at helping the average investor (less than $100k in investable assets), but self concentrated financial planners and client service management/supervisory team that doesn't have the same goal in retaining qualified, intelligent, and dedicated employees.

Doesn't Recommend
Negative Outlook

12 Other Employee Reviews for Edelman Financial Services (View Most Recent)

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  1. 10 people found this helpful  

    Not a good fit for people with ambition or looking to grow in their career.

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

    I worked at Edelman Financial Services full-time

    Pros

    Edelman is a good place to work if you need a reliable job that doesn't take too much of your time. For the most part, you can expect to put in your hours and not have to work overtime, nights, or weekends. Although the company seems to change it's direction quite often (they have been bought out twice, gone public and then private, and have launched and then cut a dizzying amount of different products and services), normally this doesn't affect the average employee's day to day life, making it for the most part a safe and predictable environment. All employees get 3 weeks of vacation/sick time (first year employees will have the time prorated from their start date), and never get pressured to skip vacation or come into the office when sick.
    Fairfax headquarters staff receive some nice perks including free workout facilities and the occasional lunch brought in for staff, and DC area employees can enter raffles for Nationals tickets and Wolftrap tickets. For the most part the employees are nice and friendly, and it's not hard to get know everyone.

    Cons

    For those looking to advance their careers, be aware that promotions are rare and usually happen within the same group of about 10-20 people in middle management positions. Client Service Associates in particular (this position makes up a good percentage of the company) are almost never promoted. Although there are always new projects in the works, there is little opportunity to get involved or exposed to anything outside of your own individual responsibilities unless you are well known and well liked by management, almost all of whom work in Fairfax and rarely meet those who work in the satellite offices.
    Although the hours are predictable, there is little room for flexibility. 9 hour workdays with a 1 hour lunch are strictly enforced, meaning that you cannot take a 1/2 hour lunch or just eat at your desk in order to shorten your workday. There is some flexibility for working either 8-5 or 9-6 (depending on your department), but that's about the extent of it. Telecommuting is not allowed unless you are a financial planner or in the IT department.
    Raises also seem somewhat rare and usually do not match cost of living adjustments. The company policy is not to give "raises" every year, but to give "merit increases" to those who deserve them. It's a very confusing and subjective standard.
    The company itself has changed considerably in the last 5-10 years. They have gone from being a small, fun, family-friendly company that didn't take itself too seriously to a large, national corporation with many fewer perks and a much more impersonal feel. There are many layers of management, making it difficult to feel you have a voice or any influence on the policies and procedures that get handed down to you. Perhaps in part because of this, turnover is high. It seems at least once a week we receive an email stating, "the following individual is no longer with the company" (a good example of the impersonal nature of the staff).

    Advice to ManagementAdvice

    Take the impersonal feel out of the company and go back to the more employee-centric model that used to exist. Invest in the employees, and the company will be even stronger for it.

    Doesn't Recommend
    Neutral Outlook
  2. 7 people found this helpful  

    Great transition to Edelman Financial

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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)

    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 ManagementAdvice

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

    Recommends
    Positive Outlook
    Approves of CEO
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