Zacks Investment Management

www.zackswmg.com
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Zacks Investment Management Reviews

Updated March 2, 2015
Updated March 2, 2015
10 Reviews
2.5
10 Reviews
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BEN ZACKS
2 Ratings

Employee Reviews

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  1.  

    Fun and rewarding place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management Associate in Chicago, IL
    Current Employee - Wealth Management Associate in Chicago, IL

    I have been working at Zacks Investment Management full-time (more than a year)

    Pros

    Worked as Wealth Management Associate for 1 year until being promoted to wholesale division. Learned a lot about investment management industry and got the opportunity to take Series 65. Once I passed the Series 65 I was able to use that for advancement internally within the company. I started in this job with no financial services experiences and 2 years later I feel like i've learned a lot and am able to transfer that into knowledge both on the phone and in person. Great manager who taught me a lot about the industry.

    Cons

    The health benefits are decent but they could be better in terms of out of pocket expenses.

    Advice to ManagementAdvice

    Keep promoting from within. Push people to get Series 65 license so they can have more opportunities internally to move up within the firm. Keep the great culture that you have!

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Temp to Full-Time employee.

    • Work/Life Balance
    • Senior Management
    Current Employee - Wealth Management Associate
    Current Employee - Wealth Management Associate

    I have been working at Zacks Investment Management full-time (less than a year)

    Pros

    Great working conditions and group of employees/management. Employees @ Zacks are very friendly in & outside of work. Made friends with many of the employees @ Zacks. Warm leads are great in sales and Zacks gives employees plenty to work with on a daily basis. Good work/life balance. I started out as a temp and Zacks made me full-time.

    Cons

    We should have more feedback with WMA/RVP. WMAs should understand the stock market/vocabulary.

    Advice to ManagementAdvice

    More meetings with management.

    Recommends
  3.  

    Sales at Zacks Investment Mgmt

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - OUTSIDE SALES in Chicago, IL
    Current Employee - OUTSIDE SALES in Chicago, IL

    I have been working at Zacks Investment Management full-time (more than 3 years)

    Pros

    Zacks has a fairly good reputation due to the history of the research side, not the investment mgmt. side's history. That;s the only positive thing I can say.

    Mgmt one level below the Zacks family is good. Nice people.

    Cons

    Where do I start? For such an "intellectual" firm, their quant models are sophomoric. One factor? Two factor? The rest of the quants in the industry have waaay more factors. Add to that that there is zero fundamental research, despite what Ben Zacks says, leaves you very little to talk about as far as process and approach. Ben and Mitch Zacks do not know the definition of fundamental research. They have no clue.

    This firm is the cheapest firm I have ever worked for. I'm only here still, for three years, because I made a mistake of joining a start up which didn't work out and then the next firm was sold, so I have two firms in a row on my resume which have 1 year stints. That is the only reason I'm still here. Mgmt views a penny spent is a penny out of their pockets and they want as many pennies as they can get.

    Upper Zacks Mgmt will look you in the eye and lie to you. They have no problem lying, changing deals, not honoring deals, etc. Do not trust them and realize that the level below them will fall victim to this problem and you will be part of the trickle down effect.

    Advice to ManagementAdvice

    Sell the firm. None of the upper mgmt. (Zacks family) is happy. You have a nice firm with surprisingly a nice reputation (probably because you have done a horrible job of marketing yourselves) but you are miserable people. You have plenty of money so sell and go have fun. Unless your goal is to have plenty of money and whine and complain and make other people miserable, then stay the course because you are doing a great job.

    Doesn't Recommend
    Negative Outlook
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  5.  

    Good starter Sales job

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    Current Employee - Wealth Management Associate
    Current Employee - Wealth Management Associate

    I have been working at Zacks Investment Management full-time (less than a year)

    Pros

    working with warm leads, b-grade insurance runs $100/month

    Cons

    Poor management, lots of employment churn in wealth mgmt division, unprofessional

    Advice to ManagementAdvice

    Get professional mgmt

    Doesn't Recommend
    Disapproves of CEO
  6.  

    Wealth Management Associate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management Associate in Chicago, IL
    Current Employee - Wealth Management Associate in Chicago, IL

    I have been working at Zacks Investment Management full-time (more than a year)

    Pros

    Job Security, Not much competition, Easy

    Cons

    Rare opportunities to move up in the company

    Advice to ManagementAdvice

    Be more transparent with you initiatives.

    Doesn't Recommend
    Neutral Outlook
  7. 3 people found this helpful  

    Horrible, no room to grow

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

    I have been working at Zacks Investment Management full-time (more than 3 years)

    Pros

    Get exposure that you wouldn't get at a larger company. Good work/life balance.

    Cons

    Everything, no grow, horrible managers, you just feel the negativity while walking through the office. Lots of office gossip, the managers are normally the ones who spread and feed the lies. Think of the worst company you could work for and then double that and you have Zacks.

  8. 2 people found this helpful  

    Promise High - Deliver Low

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Regional Vice President (RVP) in Chicago, IL
    Former Employee - Regional Vice President (RVP) in Chicago, IL

    I worked at Zacks Investment Management full-time (more than 3 years)

    Pros

    Zacks provided "warm leads" to RVP's in their assigned geography. Other RVP's were generally sharp professionals who were competant. You were able to build up a sizeable stream of recurring revenue if you stayed at Zacks. Most RVP's who have stayed are doing quite well...

    Cons

    Bad management and very poor communication between RVP's in their home geographies and the team back in Chicago.
    We were charging clients almost 2% for management - however, that could not buy the response of Ben Zacks responding to legitimate questions as to why we were violating our stated investment discipline. "Wealth Management" consisted of an Investor Profile Questionaire - which one of the portfolio managers reviewed before making an allocation of a mixture of Zacks strategies. No estate planning, no tax planning, no insurance recommendations. The strategies had extremly high turnover which meant very complex taxes for clients and almost all short term capital gain treament for taxes. They also retroactively changed these allocations (against their "philosophy") in the midst of 2008 problems to be more conservative - which of course KILLED returns for clients when markets recovered in 2009.

    Advice to ManagementAdvice

    Listen and don't promise what you can't or don't intend to deliver on.

    Doesn't Recommend
    Neutral Outlook
  9.  

    Nearly impossible to sell this investment company's products when underperforming S&P

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Adviisor/Sales in Chicago, IL
    Former Employee - Adviisor/Sales in Chicago, IL

    I worked at Zacks Investment Management full-time (more than a year)

    Pros

    The Limited Partnership 2:1 Market Neutral was a great investment, wish I could have just worked on that product

    Cons

    Management was boiler room-esqe. Fees were off the wall and the SMAs were way way way underperforming the S&P... The leads provided were very weak and passed out in strage and suspicious ways

    Advice to ManagementAdvice

    You guys dont have the managing director I worked for anymore so - step in the right direction!
    Now beat the market.

    Doesn't Recommend
    Negative Outlook
  10. 1 person found this helpful  

    Wealth Associate=Telemarketer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Wealth Associate in Chicago, IL
    Former Employee - Wealth Associate in Chicago, IL

    I worked at Zacks Investment Management full-time (more than a year)

    Pros

    If your good, and by good I mean exceptional at communication skills, you can make decent money for a first time job.

    Cons

    Misleading information about career growth
    Management abuses/hazes associates
    Compensation will be cut without notice. Commission is not paid out and response from management is "We will get you next month"

    Advice to ManagementAdvice

    Replace lower managment immediatley, possible lawsuits do to harassment issues.

    Doesn't Recommend
    Negative Outlook
  11. 2 people found this helpful  

    Salary is 100% commission. Commission rate is approximately 50% of the industry average

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Senior Investment Consultant in Chicago, IL
    Current Employee - Senior Investment Consultant in Chicago, IL

    I have been working at Zacks Investment Management

    Pros

    A great place to get experience and build a book of business

    Cons

    No communication or opportunity fo advancement

    Advice to ManagementAdvice

    realize human capital has value.

    Doesn't Recommend

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