Commonwealth Financial Network Reviews | Glassdoor

Commonwealth Financial Network Reviews

Updated March 17, 2019
120 reviews

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3.6
StarStarStarStarStar
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Wayne Bloom
34 Ratings

Employee Reviews

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Pros
Cons
  • "Not as much room for growth within the company as they say" (in 4 reviews)

  • "I'm surprised to see so many reviews mentioning work/life balance and working from home perks" (in 4 reviews)

More Pros and Cons

  1. "Great company!"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Commonwealth Financial Network full-time (More than 3 years)

    Pros

    Good work/life balance. Great benefits.

    Cons

    Salaries are not as high as they could be.

    Advice to Management

    Keep doing what you are doing.


  2. "Pretty Good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Advisor in Saint Louis, MO
    Current Employee - Advisor in Saint Louis, MO
    Doesn't Recommend
    No opinion of CEO

    I have been working at Commonwealth Financial Network full-time (More than 5 years)

    Pros

    Platform is good as is infrastructure

    Cons

    Marketing can be a challenge with everything based on aum

    Advice to Management

    open up marketing channels

  3. "Good perks"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Service Center Representative
    Former Employee - Service Center Representative
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Commonwealth Financial Network full-time

    Pros

    Excellent training, teams and benefits

    Cons

    Pay was a little low


  4. "Not a great environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Marketing
    Current Employee - Marketing
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Commonwealth Financial Network full-time

    Pros

    Good management outside of marketing

    Cons

    A lot of work and not as much support as people might think.


  5. "It's fine."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Diego, CA
    Former Employee - Anonymous Employee in San Diego, CA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Commonwealth Financial Network full-time (More than a year)

    Pros

    Close to public transit downtown.
    Casual dress code (for the most part).
    Professional development (if your manager approves).

    Cons

    Everyone has to pay to park - the parking lot in the building is not owned by company. I forget the monthly price, but it's pretty steep.
    The attitude regarding contractors is also strange and often impolite.

    Advice to Management

    Treat contractors like they are people.

    Commonwealth Financial Network Response

    Feb 14, 2019 – HR Communications Manager

    Thank you for taking the time to provide us with your feedback. While we are sorry to hear that your experience wasn’t great, receiving this kind of feedback helps us grow and improve. To hear that... More


  6. "Great place to start a career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - New Accounts Representative in Waltham, MA
    Current Employee - New Accounts Representative in Waltham, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Commonwealth Financial Network full-time (Less than a year)

    Pros

    Great place to work! Seems like there is a ton of opportunity for promotion.

    Cons

    Can’t think of any cons.

    Advice to Management

    Keep the current culture in place.

    Commonwealth Financial Network Response

    Feb 14, 2019 – HR Communications Manager

    Thanks for your feedback! We’re glad to hear you are having such a positive experience in New Accounts and within the Commonwealth culture. Our people—and our Anything but Common culture—are key to... More


  7. "Fantastic Place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Diego, CA
    Current Employee - Anonymous Employee in San Diego, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Commonwealth Financial Network full-time (Less than a year)

    Pros

    great place to work.

    Cons

    pay a tad low. not a whole room for growth since people stay for so long

  8. Helpful (7)

    "Great until its not"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Commonwealth Financial Network full-time

    Pros

    As many reviews state, there is plenty of free food, talk of professional development, giving back to communities, company events, friendly staff, even some decently friendly advisors.

    Cons

    The longer you are there the more you realize that the business does not follow what they preach. Work life balance is possible, but many managers will look down on you if you request it - as though you aren't as committed as you should be to the job. They are charitable, but only to local causes - others are usually not accepted if suggested. They care about your professional development, but wont promote you. I've also seen men who do little but their every day job earn a promotion, while women have to work much harder to prove themselves worthy of a promotion.
    It does also seem weird to have our bonuses reflected by advisor's service scores since not everyone interacts with advisors, and the ones that do often burn out quickly due to the demanding nature of CFN advisors and their staff.

    Advice to Management

    I still think overall Commonwealth is a pretty good place to work, just don't fool yourself in thinking that they are different from other companies out there. You'll find yourself disappointed.
    Management should listen to the individuals on their team who actually do the job all day everyday. Depending on how long since its been since you were in the trenches, chances are higher they know more about what they are talking about.

    Commonwealth Financial Network Response

    Feb 14, 2019 – HR Communications Manager

    Thank you for taking time to share your detailed feedback with us. You address a number of important issues (work/life balance, opportunities for promotion, gender equity, the front-line staff... More


  9. Helpful (5)

    "Good benefits for bad pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Helpdesk Technician in Waltham, MA
    Current Employee - Helpdesk Technician in Waltham, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Commonwealth Financial Network full-time (More than a year)

    Pros

    Good company culture - casual attire, friendly coworkers
    Low-level supervisors and managers are friendly and concerned
    Benefits such as vacation properties, stock options, and training
    Invest in fun perks such as bagel Fridays and on-tap Coldbrew
    Often hold fun events for workers

    Cons

    Paid around $10k less than the industry average for the same job
    Bonus structure relies on service scores that are impacted by people other than yourself
    Bonuses are used as an excuse for not paying well, despite Commonwealth being the largest independently owned broker/dealer in the country
    Upper management is more focused on the big picture and when concerns are brought up, they are laughed away

    Advice to Management

    Pay people a wage representative of Commonwealth's leading status in the industry.
    Hire more people at lower levels of the company or pay the people who are advisor-facing more, as they are the people who directly impact the bonus structure.


  10. "Alright"

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

    I have been working at Commonwealth Financial Network full-time

    Pros

    Flexibility with working remote.

    Cons

    Disjointed operations between multiple departments.