Hennion and Walsh Reviews

Updated February 9, 2015
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3.1
21 Reviews
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William Walsh
18 Ratings

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  1. Helpful (1)

    A good place to be.

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

    I have been working at Hennion and Walsh full-time (Less than a year)

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

    Pros

    I came to Hennion & Walsh from a leading corporation, and I can tell you from experience that you will absolutely not get another opportunity to work with people like this in the business. To be able to work with and get access to top management and the Partners is extremely unlikely elsewhere. Here, it is not sink or swim, but a team effort. The Partners will always keep their word, and every element of the training program is designed to create seasoned sales professionals. Our culture has a uniqueness that is truly appreciated and valued.

    Cons

    Not a lot of days off, but that's not a huge deal.

    Advice to Management

    Stay open minded.

  2. Helpful (4)

    Find a reputable investment firm if you are attempting to build or maintain a career, keep searching.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Past Employee in Parsippany, NJ
    Former Employee - Past Employee in Parsippany, NJ

    I worked at Hennion and Walsh

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The 'pros' are very minimal with this firm unless your only aspiration as a financial professional are to become a high pressure bond salesman. If you have not been able to find a license sponsor then this might be a place to get that done, though immediately find a firm with a good reputation and professional management once you have your Series 7.

    Cons

    Training is browbeating, negative reinforcement with a good dose of intimidation and harassment. If you enjoy a constant barrage of "F" bombs, expletives, and sophomoric sales antics, this might be your place. If you are looking to build or grow a practice here and be considered a financial professional, this is not a firm that is taken seriously by any of the majors. CEO is a major loudmouth, either was bullied as kid or was the bully, and extends that into his management 'style'. The firms complaints and lawsuits over the years are something that does not reflect well.

    Advice to Management

    Monetize while you still can, probably save a few careers by doing so, which of course you won't do. Recognize the street doesn't have the respect for you that you think you have.

  3. Helpful (3)

    Shut up and dial

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Parsippany, NJ
    Former Employee - Financial Advisor in Parsippany, NJ

    I worked at Hennion and Walsh full-time (More than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    "electric" work environment, good to work with young people, workplace is not overly-PC if that's what you're looking for, they pay for license. Some of the senior brokers are great about teaching you what they went through and how to succeed.

    Cons

    H&W recently were the target of a harassment suit in whose brief the firm is described as a "frat house." Whether or not they are held liable in the suit, that description is pretty much accurate. if you're looking for professional development, this place will teach you how to discipline yourself to get used to tedious sales-y telemarketing and not much else. Be prepared for long hours and minuscule compensation.

    Advice to Management

    Top-down organization: management will take no advice/criticism so why would I bother?

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  5. Work hard, play hard

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

    I have been working at Hennion and Walsh full-time

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

    Pros

    great training program to pass series 7 and learn how to build a business. everyone works together like a family. you make your own luck....the harder you work, the more reward you get. senior management always accessible to approach and help out.

    Cons

    lots of early failure to have long term success.

    Advice to Management

    continue to stay involved for younger trainees to have personal growth

  6. Helpful (2)

    Encouraging work environment...

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

    I have been working at Hennion and Walsh full-time (More than 5 years)

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

    Pros

    I previously worked at Hennion & Walsh for 3 years before deciding to move and work out of the Big Apple and then CAME BACK. From my experience at the independent firm Hennion & Walsh and working at a big wirehouse in NYC, i can tell you the differences and reasons I like H&W. First off, H&W has an "open-door" policy, in the sense that if you have any questions or just want some advice you can speak to the partners and any top level managers or advisors at any time. I've learned a lot from them and never felt uncomfortable speaking with them.

    H&W is known for their expertise in bonds, but that is not all they do. They have an Asset Management division that builds and manages growth portfolios using domestic and international equities, fixed income, REITS, commodities and at some points in the past, currencies. Many current clients use the Asset Management team for their growth needs and have had great success (I first worked on a senior brokers team and had spoken to many of their clients who were in the program now have my own very satisfied clients in the program).

    The training program can be tough, the long hours and dialing non stop can be hard for some people. But in order to be successful in this industry you have to start somewhere and if you can't make it through their training program....good luck wherever you go. They do give you leads so you do not have to buy any (friends at other firms had to buy their own cold leads and I had to once I left the firm). If they see more potential in you than just being a bond broker or if you ask the partners to learn about portfolio management they will make room for you and have one of the senior advisors on the Asset Management team to train you and learn the otherside of the business (again open door policy....just ask).

    The work environment is fun. The saying work hard, play hard is a true statement. They do have a "lounge" but that is only available to experienced advisers after work hours during the week and special occassions, like the Holiday party in December if you choose to. They have sales competitions or set goals for you, where you can go on an expensed paid trip and they hold many charities which are fun events to go to. I am all for the rewards and having a casual drink after a hard work week. Don't expect to be in the "lounge" while training unless during the holiday work party.

    Cons

    The benefits could be better, but I'm not complaining. The training program pay is a bit low, but just work hard and "make your own luck".

    They only other cons I would say are for people who can't handle the pressures of being motivated to build their "book" of business. If you decide to stay on the brokerage side (more fixed income) or decide to go to the Asset Management side, you need to talk to people...you need to dial...you need to work and work hard. If you slack or seem to just walk around the office and try to talk to your comrades all day....they will call you out, but I look at is as motivation and them wanting me to succeed, which i would consider myself successful and in my late 20's. So if you're not cut out for this industry you certainly will find out soon enough especially since they make it easier for you than just being on your own at a bigger wire house.

    Advice to Management

    Delegate some more power to individuals (managers) so certain things can be done in a more timely manner.

  7. Helpful (1)

    Still an excellent place to work

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

    I have been working at Hennion and Walsh full-time

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

    Pros

    The pros are several. For starters, there is work life balance. Yes, you work hard, but you have the freedom to take time off when you need it and there's no need to fill out PTO forms incessantly to go to a quick doctor's appointment. Pay is very fair and if you are a producer, you'll do very well here and you can build a real career. As someone on a sales track, arguably one of the best parts of working here is that once through the training program, you'll get leads. Really solid warm leads that come from all the advertising the firm does. That is a lot better than walking neighborhoods and knocking on doors or dialing the phone book and allows the aspiring producers to really build a solid book of business in a fairly short amount of time. And the company culture is all about family. At work, we get along well and collaborate and after work, we like to participate in events like runs, charity outings, blood drives, etc.

    Cons

    The challenge of working here is that things change fast sometimes. You might be working on one thing, and you'll get reassigned to deal with something else. Other times, it may take longer than seems necessary to complete certain tasks, but it is usually related to extremely thorough review and high compliance standards. The environment definitely rewards employees that are flexible and nimble and can adapt to change and a fast pace quickly.

    Advice to Management

    Only advice I have is that at times, the firm could benefit from a deeper/more complex organizational chart. Flat is good, but too flat can sometimes cause missed opportunities.

  8. Helpful (3)

    Great work environment and program that enables you to learn the industry and succeed as a financial advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor in Parsippany, NJ
    Current Employee - Financial Advisor in Parsippany, NJ

    I have been working at Hennion and Walsh full-time (More than 5 years)

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

    Pros

    From the day I began at Hennion and Walsh I knew this was a company that I would be able to learn and build my career as a financial advisor. When beginning they provided all study materials to take the Series 7 and had a proven study regimen in place which enables a near 100% pass rate within just a few months of starting. After becoming registered as an advisor I was able to learn the business the next 12-16 months by being paired with a senior advisor. After just 18 months of starting I was given the knowledge and tools to be an extremely successful financial advisor helping individual investors. Hennion and Walsh offers an opportunity like no other brokerage firm and truly cares about helping you build your career.

    Cons

    You tend to hear a lot of people say how building a career as a financial advisor/broker is very difficult and that it's a "sink or swim" mentality. However, given the tools that Hennion and Walsh provides, becoming a successful financial advisor becomes that much more attainable

    Advice to Management

    At no other company would you be able to have constant interaction with the CEO. He makes himself available daily and is directly involved in helping you grow as an advisor, something no other company would offer!

  9. Helpful (4)

    Not Worth It

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Broker in Parsippany, NJ
    Former Employee - Financial Broker in Parsippany, NJ

    I worked at Hennion and Walsh full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The atmosphere when the partners are not in is very relaxed. They will pay for you to take the series 7 and 63

    Cons

    So many to list. They tell you in the interview it is a full service firm but all you do is sell municipal bonds. You call 800 - 1000 calls a day from lists of leads, but those leads could be over 10 years old so half the time the numbers are not working, and don't forget to hit that 800 number because if you don't you will get yelled at in front of everybody from one of the partners because they print out a sheet that states how many calls you made, how many calls were connected, how the total talk time was, what the average talk time was and the average time you let the phone ring, so make sure to hit those numbers or your "report card" the next day will get you in trouble. Don't expect to have any money, you are expected to dial the phones from 8:00 AM to 7:00 PM for 2,000$ a month. That comes out to around 800$ on the first and 15th of every month. The "training" they do is give you the series 7 book for a weekend and then Just tests for the rest of the 12 weeks wile you "study". Better get a 90+ on every test too because if you don't again, the partners get all big and bad and decide to yell at you in front of everybody. So my advise would be to put a little dot on your questionnaire packet so u know the correct answers and can then try and study the questions and answers when u get home and have a little more time to yourself. You get treated like a child, you have to wait till an see broker releases you at the end of the night, you have to go in beer runs, car washes, gas fill ups and food runs for older brokers whenever they want something done. They do have a bar in the back room that is very nice but don't expect to ever be allowed into it, the brokers will go in around noon on a Friday and you just watch till 6 when you get released by somebody. This place is a joke

    Advice to Management

    Actually train the new employees. Stop walking around yelling at employees to "pick up the phones". We get it. We have to call to make money

  10. Helpful (5)

    Unprofessional!

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

    I worked at Hennion and Walsh full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    They will pay for you to get your series 7 and other licenses. They will teach you about Municipal bonds and how to sell them. There are a lot of really nice people that work there. Some have been there a long time. It a young and fun environment at first. There is a bar in the office, and they have lots of fun sales contests. They even have a sales contests where they take their advisors to Puerto Rico. So there is a lot of incentive to be successful.

    Cons

    it is a crazy, unprofessional atmosphere. The partners walk around and scream at the employees to get on the phone. Its a bullying atmosphere. When the partners are not it, its a much better, lighter atmosphere.
    You put up with a lot of garbage, for little money.

    Advice to Management

    Treat people with respect. Stop treating the rookies like garbage. Keeping people on edge is not the way to gain your employees loyalty and respect.

  11. Helpful (1)

    Good people, but terrible training program

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

    I have been working at Hennion and Walsh full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The office atmosphere is fun and entertaining. There is a bar in the office, and there are events (Christmas party, March Madness, a golf outing, etc.) throughout the year that are a good time. There are a lot of good people that work there. You will more than likely pass your Series 7 and Series 63 exams on the first try if you stick to their study program. Income potential is great if you want to put your life on hold for 4-6 years, and even so there is no guarantee you will be making good money.

    Cons

    The "training program" is not exactly what it sounds like. You will call 500-700 "leads" a day that are not qualified at all. Basically, the first year or so you are a glorified telemarketer. The compensation is not good at all. You will not learn much besides how to pitch municipal bonds, which is the only thing you will be showing prospects. The senior brokers will make you run errands throughout the day, whether it be washing a car or going on a beer run and anything else that has to be done around the office. As I mentioned before there is a bar in the office, however you will rarely be invited in for a drink and you will be responsible for cleaning it every morning after it was left a mess the night before.

    Advice to Management

    Make the "training program" an actual training program. Take the time to actually teach the new brokers about the financial services industry. Don't just give them a bond and tell them to pitch it for 11 hours a day with zero feedback.

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