van Wagenen Financial Services
2.1 of 5 17 reviews
www.vanwagenen.com Eden Prairie, MN 150 to 499 Employees

van Wagenen Financial Services Reviews

Updated Apr 8, 2014
All Employees Current Employees Only

2.1 17 reviews

                             

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Randall Rempp


18% of employees recommend this company to a friend
17 Employee Reviews
Relevance Date Rating
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    Opportunity for those who want it

    Anonymous Employee (Current Employee)
    Eden Prairie, MN

    ProsCompany is progressive, looking at new ways to do what they have come to be experts in. With the new leadership, there is a lot more transparency and a lot more openness to associate ideas and contributions. The company is very focused on growth and expansion which means if you look for it, there are opportunities. The parent, Bankers Financial Corporation, is a plus too - support of an even larger organization.

    One of the best perks here right now - Two PAID volunteer days!

    ConsBenefits are ok, not the best/not the worst.

    – I'm optimistic about the outlook for this company

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    Data entry

    Anonymous Employee (Former Employee)

    ProsI was given a lot of responsibility and a lot was expected of me. I was encouraged to push myself.

    ConsI was given more work than was always realistic to finish by one person. There was expectation to do more all the time without a lot of support.

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    A decent place to work

    Customer Service Representative (Former Employee)
    Eden Prairie, MN

    ProsIf you want stability, you can have it here. If you want to advance, there are opportunities but they tend to come rarely. Now under a larger company processes have changed and after a few changes and shakedowns the culture has improved and overall employees seem to see these changes positively and are looking forward to keep improving.

    ConsAt some point nepotism was rampant.

    Advice to Senior ManagementYou have adults working for you, keep empowering them. Try to stop the last bits of the old regime from stopping your fine progress.

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

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    No Opportunities to do anything else.

    Data Entry Specialist (Former Employee)
    Eden Prairie, MN

    ProsFlexible start-end times. Can wear jeans.

    ConsNo Opportunities!!!! Unless you were a "pet" you got to do more things. Some only got to do ONE thing even thought there was LOTS of work to do they would send some employees to the mailroom to work. Work got shipped to India so very unstable in my eyes.

    Advice to Senior ManagementTreat everyone the same. Some were treated really bad!

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

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    Not a stable company

    Anonymous Employee (Current Employee)

    ProsManagement asked for feedback from staff

    ConsLow salaries,large layoffs with more expected and lots of micro management benefits are not great.

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

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    Easy going company

    Anonymous Employee (Former Employee)
    Eden Prairie, MN

    ProsFlexible schedules usually. Make sure you suck up and do all the extra work you are given that't not part of your job description and you'll more than likely get a promotion.

    ConsMany jobs got outsourced to India/Phillipines, little job security for current employees.

    Advice to Senior ManagementValue your employees more because if their job doesn't exist, your job soon won't exist either.

    – I'm not optimistic about the outlook for this company

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    "World-class" micro-mangement and inefficiency.

    Data Entry Specialist (Former Employee)
    Eden Prairie, MN

    ProsRather than praising this sad, debilitated company, let me instead take this space to educate the reader on what it is that Van Wagenen Financial Services does. They are an "insurance tracking center" for auto and mortgage lenders. This means (at least in theory) that they:

    A) collect and retain insurance data on behalf of the lender (VW's actual client).
    B) match said insurance data with customer account information provided by the lender.
    C) communicate with insurace carriers, agents, and brokers (as well as customers and lenders) to resolve any issues arising in the acquisiton of this data.
    D) ensure that lender expectations regarding data security, turnaround time, and customer satisfaction are met.

    In September 2013, Van Wagenen outsourced its Data Entry department to an overseas vendor, which necessitated letting go of their in-house Data Entry staff. This is likely the reason for the recent (mostly negative) reviews posted here. I am one of these employees, but let me stress that although I certainly don't enjoy being unemployed, I find this layoff an immense opportunity. I am happy that I and the others in my department can now leave the dead-end positions that we previously held with this organization.

    Cons-- There is a critical failure to communicate at most levels, even regarding the simplest of policies. As a new trainee, don't be surprised if you receive a blank stare or a shrug as an answer to a question. When you do receive a specific response and perform as instructed, it may be counted as a mistake on your review. Rest assured that this, too, is completely normal. Everyone in this organization has a different opinion on *every* process and policy. When I myself was a new employee, I disputed a "mistake" on my monthly review. My team lead told me that I should check with training. I did, and was puzzled when they told me that the correct procedure was something completely different from what I or my team lead had done. I was frustrated to find out that this sort of run-around was very commonplace in both inter-departmental and employee relations. New employees should also be warned not to seek too much clarification for these miscommunications, for many's the time I've seen a fellow employee fired for "asking too many questions." If I were to pick the single largest problem with the company, this is what I would choose.

    -- Van Wagenen holds its employees in *very* low regard. Employees are routinely treated like children, and rather than receiving raises or incentives for their hard work, they are rewarded with things like pizza parties and boxes of Popsicles. This is the only reward they receive for saving the company from its own incompetence and thousands of dollars in late fees to clients. It's incredibly insulting, and I am not the only employee who thinks so. In addition, the company lies to its employees constantly. One of my co-workers was told that he would receive a raise for each new document type he was trained to enter. Indeed, when I looked in the employee handbook, the raise amounts were clearly delineated. However, these raises were to be awarded "upon completion of training" for said document types. Therefore, management decided that they would just stop sending my co-worker to the training department, instead opting to sit him with some clueless lead or supervisor, where they could rush him through training themselves, and then withhold the raise on the grounds that he had not yet completed training for that entry type. Despicable.

    -- The company engages in illegal practices. From the time our department was informed of the layoff (around 07/05/13) until our respective end dates, we were constantly told that, unless we upped our productivity and efficiency, we would not receive our severance. Here's a question for the reader: did you know that withholding severance pay is *illegal* under Minnesota law, since severance pay is considered money already earned by the employee? It's true! check the Department of Labor's website: http://www.dol.gov/. I do not feel that I am exaggerating when I say that this amounts to extortion on the part of Van Wagenen. I would sue them for it, but of course the severance agreement prohibits me from suing the company. Sadly, that's pretty standard among US employers.

    -- If you aren't friends with the management, you better get ready to do a whole lot of sucking-up if you want to advance at all. One of the most infuriating things I experienced while working at this horrible company was watching incompetent people advance quickly simply because they were favored by a senior staff member or management. Usually, these people were the most incompetent, which is why they felt the need to do so much schmoozing. Networking is one thing, but rampant nepotism is quite another.

    -- Van Wagenen also routinely lies to its clients, who are guaranteed that their data is safe and that they will experience a 48-hour *maximum* turnaround time before their customers' data (if received) will be viewable in the system. If you ask any Van Wagenen employee (except sales and management) about this deadline, you will quickly find that it is a joke among most staff. I have personally viewed multiple accounts for which paperwork was received in a timely fashion (4-8 days after request faxed to agent or customer), whose info had yet to be entered after 2 months. I can only imagine the extreme distress and frustration felt by these poor customers, who at that point had received multiple harassing phone calls and letters threatening repossession and demanding insurance info that had been sent months before. It's disgraceful. In addition, building security is laughable, and background checks are not performed on either in-house employees or the overseas contractors. This raises serious doubts about the security of client and customer data. Any client that has fallen for VW's false promises has my sympathies. Thankfully, I noticed toward the end of my employment there that many clients were starting to wise up and back out of their contracts.

    Advice to Senior ManagementGrow up. Realize that you are running a company, not a clubhouse. Start looking to fill your ranks with qualified employees rather than flatterers and fakes. Treat your co-workers with respect. Lastly, realize that this layoff is symptomatic of what will happen to you (yes, even you, administrators) if you do not make major changes to your organization. Your clients won't put up with your incompetence forever. Your advertisements of "world-class insurance tracking" ring very hollow once everyone has the opportunity to see the deplorable way you conduct business.

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

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    overworked and used

    Data Entry Specialist (Former Employee)
    Eden Prairie, MN

    Prosflexible schedule, the last CEO was good to us and treated us like family we all miss her.

    Conswork is going to India, they will fail. Bad upper management, they have no idea on how to run a company.

    Advice to Senior ManagementDon't treat us like we are beneath you, stop using and abusing your current employees. Your threats are illegal, and we know more than you think.

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

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    • Culture & Values
           
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    Terrible-doesn't care about employees

    Data Entry Specialist (Former Employee)
    Eden Prairie, MN

    ProsThere is no pros. This company lied to it's employees when management was over India training our replacements. Then they gave us a months notice. Gee Thanks.

    ConsThey lay you off because they found cheaper labor in India. Then they fight your unemployment claim.

    Advice to Senior ManagementShow some compassion after you tell your employees are getting laid off instead of threatening them for not making cut off. Didn't appreciate that.

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

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    • Culture & Values
           
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    • Disapproves of CEO

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    Great Colleagues, TERRIBLE Management

    Leadership (Current Employee)
    Eden Prairie, MN

    Pros- Talented employees with great ideas (unfortunately, these employees are undervalued)
    - Flexible schedule

    Cons- Terrible management - some have been with the company 20-30+ years, and should have left years ago, and and over-abundance of VPs! One too many bad cooks in the kitchen!
    - Lack of accountability and ownership - the company may have professional signs plastered on the front entrance of the building with the "core values." Unfortunately, they are not followed - specifically by the decision makers of the organization. They also like to throw meaningless phrases around such as "choose positive." How can staff members choose positive when the ship is slowly sinking?

    Advice to Senior ManagementRetire, please.

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

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Glassdoor is your free inside look at van Wagenen Financial Services reviews and ratings — including employee satisfaction and approval rating for van Wagenen Financial Services CEO Randall Rempp. All 17 reviews posted anonymously by van Wagenen Financial Services employees.