CBG Financial Group Reviews | Glassdoor

CBG Financial Group Reviews

12 reviews

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2.1
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Recommend to a friend
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M. Carleton Boothe, Sr.
2 Ratings

Employee Reviews

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  1. "Broker Trainee"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Broker Trainee in Boca Raton, FL
    Former Intern - Broker Trainee in Boca Raton, FL
    Recommends
    No opinion of CEO

    I worked at CBG Financial Group as an intern (Less than a year)

    Pros

    Excellent Management
    Learning experience
    Good Company Culture
    Introduction to Financial Markets
    Series 7 Training
    Contacting potential clients...
    Sales experience

    Cons

    A lot of Cold calling.... Atleast 500 calls per day...
    No research team


  2. "Team Leader"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Boca Raton, FL
    Current Employee - Anonymous Employee in Boca Raton, FL

    Pros

    Good job environment, friendly workplace

    Cons

    low salaries and since managers are based in Sweden not easy to communicate with.

  3. "waste of time"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Representative in Boca Raton, FL
    Former Employee - Registered Representative in Boca Raton, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    It was a great sales organization

    Cons

    It was only a sales organization

    Advice to Management

    Cut the pinky to save the arm


  4. "Trainee Financial Rep"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at CBG Financial Group full-time (Less than a year)

    Pros

    This is an old school brokerage house---there really aren't any pros. Typical base salary.

    Cons

    Dated business model---bad leads---no exit opportunities


  5. "The Best Learning experiance of my life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Executive in Boca Raton, FL
    Former Employee - Account Executive in Boca Raton, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at CBG Financial Group full-time (More than a year)

    Pros

    I have read some of the reviews of former employees. Those comments could not be further from the truth. I have found that the research that Sterne Agee, (cbg's clearing department) provides to the brokers to be EXTREMELY profitable. The management provided me with a foundation for a long career in this industry. Most of the reviews that were negative i suspect were former employees that could not handle cold calling. Realize working at CBG is like running your own business, if you don't have clients you don't have a business... Every large wire house firm cold calls.... Great atmosphere, good management great place to work.

    Cons

    To be honest i left the firm to go work with a family member who is also in the industry, i really don't have anything negative to say. This was honestly a great place to learn this business.

    Advice to Management

    Continue to teach young employees the business i know it helped me.


  6. "This place is a boiler room and nothing more."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stock Broker in Boca Raton, FL
    Current Employee - Stock Broker in Boca Raton, FL
    Doesn't Recommend
    Neutral Outlook

    I have been working at CBG Financial Group full-time (More than a year)

    Pros

    The only pro to working here is the potential to make decent commissions. That is, if you are willing to abandon any and all personal ethics you may possess.

    Cons

    Let's see: wasting your time in a dead end job, ripping people off selling stocks you know nothing about, working with uneducated people, risking your reputation and future employ-ability, risking legal actions against you for unsuitable investments, and the list goes on. The only difference between this firm and the movie Boiler Room is you are not selling fraudulent IPOs. The firm states it only serves high net worth individuals. However, they will open an account with anyone who they can take advantage of. You only need to research their brokers names through BrokerCheck on FINRAs website. Link http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

    Advice to Management

    It is impossible to provide advice to career scam artists. The management at this firm has previously worked at notorious boiler rooms from the 90s. But to answer the question, having an elementary knowledge of the stock market and investments in general would work for starters. It seems unusual that every client of the firm is invested primarily in stocks. Management looking up the word diversification would also be beneficial.


  7. "Just a chop shop of licensed guys"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Broker in Boca Raton, FL
    Former Contractor - Broker in Boca Raton, FL
    Doesn't Recommend
    Neutral Outlook

    I worked at CBG Financial Group as a contractor (More than 3 years)

    Pros

    typical energy of a call room.

    Cons

    This is simply a bare bones, bottom of the barrel firm, no research team, no analyst... your simply there to open accounts for the firm period...
    Once your burned out, there will always be some hungry, young, freshly licensed idiot to take your place and chase the dream...

    Advice to Management

    It's tough pitching accounts from a firm like cbg.. renegs are more prevalent than paid accounts... fun atmosphere though

  8. "Chop Shop from the 90's"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Executive in Boca Raton, FL
    Current Employee - Account Executive in Boca Raton, FL
    Doesn't Recommend
    Negative Outlook

    I have been working at CBG Financial Group full-time (More than a year)

    Pros

    Opportunity to learn from senior brokers how to do hard sales over the phone.

    Cons

    Verbally beating people up for money over the phone, building a positon and praying that a stock works out to generate a comission.

    Senior brokers will use junior brokers to build a book before firing them or letting them drown.

    Does not look good on a resume to other reputable financial firms.

    Advice to Management

    Leave the financial industry.


  9. "I wouldn't suggest working here"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Broker Trainee in Boca Raton, FL
    Former Employee - Broker Trainee in Boca Raton, FL
    Doesn't Recommend

    Pros

    -decent series 7 book to study from.
    -funny coworkers

    Cons

    - minimum wage salary to start off
    - lack of financial knowledge and very risky investments
    - you don't need a college degree to work here
    - lack of leadership
    - cold calling the entire day, you will do nothing else.
    - no real training

    Advice to Management

    Diversify your investments
    Better training program
    Don't just focus on stocks, try bonds / options....etc


  10. Helpful (1)

    "Abusive hours, Boiler room, bad financial research."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Stock Broker Trainee in Boca Raton, FL
    Former Employee - Stock Broker Trainee in Boca Raton, FL
    Doesn't Recommend

    Pros

    my co-workers were great. The environment is ok. And because it's a small company there is a bit of a team spirit

    Cons

    You will work under a senior broker who will pay you nothing and take your first 15 accounts entirely. Then for the next year or so you will share the profits of the accounts you bring in but the accounts will stay for your senior broker. So after ur done with ur 15 acc plus 1 to 2 years of partnership, you will start again from ZERO !!! it's abusive. Plus they have bad resarch. They will sell you a dream, exploite you and bank in all the profits.

    Advice to Management

    develop an educational system. Promote other marketing strategies aside from cold calling. Develop real Financial Advisors instead of telemarketers.