Pensco Trust Company
3.5 of 5 4 reviews
www.penscotrust.com Portsmouth, NH 50 to 149 Employees

Pensco Trust Company Reviews

Be The First To
Add Photos

All Employees Current Employees Only

3.5 4 reviews

                             

75% Approve of the CEO

Pensco Trust Company CEO & President Kelly Rodriques

Kelly Rodriques

(4 ratings)

75% of employees recommend this company to a friend
4 Employee Reviews
Relevance Date Rating
in
  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

1 person found this helpful  

Always encouraging innovation, Pensco helped me to fine-tune my career while keeping us ahead of the competition.

Finance Operations Manager (Former Employee)
San Francisco, CA

I worked at Pensco Trust Company full-time for more than 3 years

ProsRegardless of office location (SF/Denver/Portsmouth), Pensco is a work hard, play hard firm that pays off if your willing to hold up your end of the deal. I moved to Pensco from one of the "big four" banks seeking to be part of a company that had the agility required to keep pace with change in a sector where technology matters more and more every day. Pensco was, and remains the leader in the self-directed retirement space.

Though I spent several years at Pensco and gained some decent seniority, Pensco is highly competitive relative to financial firms in its respective territories for new hires as well. Being a smaller firm (< 500 employees), Pensco's initial PTO structure likely ranks above comparable firms.

Pensco's 2012 purchase of Lincoln Trust Company's self-directed retirement business included the acquisition of a technology platform years in the making, allowing the combined entity to provide the types of service offerings (largely related to online account management) that today's clients demand.

ConsNothing major. The company hit a rough patch for approximately 6 months in 2012, a period of stabilization, following the acquisition mentioned above. They tripped over their own feet a few times trying to solve for issues such as a surge in inbound call volume, and clients dealing with new addresses for communicating with the joint entity. When I left in January of 2013, things were pretty much back to normal.

I personally wanted to broaden my exposure to emerging technologies. Though I was the Finance Operation Manager, my role was very IT centric. I worked out of the San Francisco office...and if you're in the Bay Area, then you know that jumping companies after 4-5 years "just because" is pretty standard. I am now a Business Intelligence Manager in the Education Management sector (see--totally different!)

Advice to Senior ManagementWhile broadening your service offering with new products helps to differentiate Pensco as the premier player in the self-directed space, be sure you continue to approach such offerings strategically to ensure the existing client base does not suffer as a result of reduced resources. I've got high expectations for the organization as a result of the restructure that was carefully executed by Kelly Rodriques and Pensco's executive management over the past 1 1/2 years.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Professional work environment where talent is recognized and rewarded

Anonymous Employee (Former Employee)
San Francisco, CA

I worked at Pensco Trust Company full-time

ProsThe real reason to work at PENSCO is the opportunity it provides employees of all ages and experience levels to grow within their roles as well as reach towards higher goals. The CEO has proven in his time at PENSCO that effort and hard work are rewarded not just with promotions and compensation (of which both are forthcoming for those who excel), but also with recognition from senior management and appreciation from all.

There will always be those employees that wish to have a static, non-challenging workplace. For those types I would hesitate to suggest PENSCO, because the workplace has become more a meritocracy than the old system based on seniority.

I enjoyed my time at PENSCO and feel I left having developed more professionally than I would have at many other financial services firms. The people made it special, the work made it challenging, and the opportunities made it worthwhile. It's not the place for everyone, but if you desire a job that will provide you with a position to make an impact, this is the place for you.

ConsThe workforce has been changing. It is not from outsourcing, as when I left all the jobs were being brought back into the US (NH, CO & CA), it is the result of growing the business by acquiring its largest competitor. I know I left as a result of this merger, but that made the most sense. Others left around the same time, and I completely understand any hurt feelings. Make no mistake, those hurt feelings are a result of no longer being a part of the growth story of PENSCO. But to be fair, people were laid off (an unfortunate story we have seen very often since the credit crisis began in 2008), but those layoffs ended in 2012 and hiring has begun in earnest.

Though I am ranking PENSCO as a 5-star company, there are things I'd still like to see changed to make it an even better place to work. Even during a growth period, money can still be tight, so the company parties change accordingly. We stepped up and had "unofficial" company outings, but I'd like to see the company-sponsored events occur more often, especially to help the CA employees meet and socialize more with the CO-based operations staff. I'd also like to see PTO be awarded on a wider scale, meaning first-year employees start with a little less, and more PTO be awarded through hard work and promotions. I believe that this scale may reinforce the drive to excel within employees who see PTO as a very valuable part of their compensation package.

Advice to Senior ManagementSenior managers, beyond just the CEO, face many challenges. They answer to vendors, they answer to the Board of Directors, they answer to creditors, and they ultimately answer to the clients. I'd like to see all of these stakeholders align behind senior management and reach for the same goals. This can be tricky, but under the leadership of Kelly Rodriques, I believe it is not only possible, but inevitable.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

No longer the great company that I was once so proud to work for

Operations (Former Employee)
San Francisco, CA

I worked at Pensco Trust Company full-time for more than 5 years

ProsParticularly for new employees, PENSCO offers a decent PTO package (4 weeks). Location is ideal (downtown SF near 2nd & Mission)--close to public transit. Super-dedicated processing level staff. Company targets young hires--particularly right out of college.

ConsNon-competitive compensation for a financial firm, especially being located in downtown SF. Though the company offers a healthy PTO package-actually using that PTO is a different story. Once the new CEO took charge in 2010, many folks often had to still work while on PTO just because they were so overloaded. Company drastically changed its approach to business in 2012 when they laid off the majority of Ops staff and outsourced Operations functions oversees..

Advice to Senior ManagementReplace this new CEO with someone more like Tom Andersen (founder & former CEO). Tom grew an honest business client by client.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Web Developer

Anonymous Employee (Former Employee)

I worked at Pensco Trust Company full-time

ProsIt was good working with Pensco's team. Team was fantastic.

ConsCompany changing their work culture

Yes, I would recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review
RSS Feed Embed

Worked for Pensco Trust Company? Contribute to the Community!

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

Glassdoor is your free inside look at Pensco Trust Company reviews and ratings — including employee satisfaction and approval rating for Pensco Trust Company CEO Kelly Rodriques. All reviews posted anonymously by Pensco Trust Company employees.