Commonwealth Financial Network Reviews | Glassdoor

Commonwealth Financial Network Reviews

Updated August 14, 2017
91 reviews

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3.8
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Wayne Bloom
14 Ratings

91 Employee Reviews

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Pros
  • Great work-life balance, great culture (in 15 reviews)

  • Great culture sets them apart from typical corporate / financial services industry (in 15 reviews)

Cons
  • I worked in the marketing department, where there is little room for advancement or professional development (in 4 reviews)

  • Low pay in relation to standards (in 6 reviews)

More Pros and Cons

  1. "IT Professional"

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

    I have been working at Commonwealth Financial Network full-time

    Pros

    Great culture, casual attire, management is supportive of learning opportunities and transferring to other departments, upper management is very friendly

    Cons

    Low pay compared to similar companies, many managers are there for years, making it difficult to advance depending on department

    Advice to Management

    Try to find an improved balance between culture/events and compensation for home office staff.


  2. "Great Company To Work For"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations in Boston, MA
    Former Employee - Operations in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Commonwealth Financial Network full-time (More than 8 years)

    Pros

    The Culture and People at Commonwealth make it a great place to work. Great perks - Bagels and beer on Fridays. Group of partners/executives are totally accessible and are great people who care about their employees.

    Cons

    Unfortunately the emphasis on culture comes at a cost in regards to compensation and it doesn't seem like that feeling will change. Tough place to grow.

    Advice to Management

    You will continue to lose good people if you don't pay competitively in the marketplace. More and more companies are finding a balance of having a great culture, AND incentivizing employees financially as well.

  3. "Insurance Product Consutlant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Product Specialist in Waltham, MA
    Former Employee - Insurance Product Specialist in Waltham, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Commonwealth Financial Network full-time (More than 5 years)

    Pros

    Great work/life balance. Very supportive on education. Willing to listen to new ideas and process improvements. Great benefits. Great people.

    Cons

    Not many levels of management so hard to advance in career quickly. There are very little cons with this company. It's a great place to work.

    Advice to Management

    Keep being open minded and continue the wonderful support of your employees. Keep promoting education and training.


  4. "Experience Varies Greatly by Department"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Disapproves of CEO

    I worked at Commonwealth Financial Network full-time

    Pros

    Learning opportunities: There's a robust system that allows employees to sign up for a wide variety of courses that nurture career and personal health and wellness. Classes are great, and Commonwealth is very generous about supporting outside education that relates to employees' career paths as well.

    There are a lot of great benefits and free food, and a ton of interesting, brilliant, and passionate people to meet if you get involved with some of the company-wide initiatives.

    I was compensated competitively for my role.

    Cons

    I'm surprised to see so many reviews mentioning work/life balance and working from home perks. If you consider working here, I highly recommend you get a feel for your individual department's policies surrounding this, as it seems to vary wildly between teams.

    In the department I worked in, working from home was off the table until you'd reached about a 5-year tenure at the company. When the building closed down due to a flood in the basement, I was told I had to use a vacation day as I wasn't allowed to work remotely. It doesn't matter if there's a blizzard, you will be expected to either show up on time or surrender one of your precious vacation days (or several, because this is MA and it tends to snow a LOT).

    It seems that many teams within the company have a great culture. Unfortunately, that was not my experience during my time at Commonwealth. From my first day, the area my team sat in was quite silent, with most people preferring not to interact with the colleagues around them, and even avoiding eye contact when we crossed paths in the hallway.

    On my first day, my neighbor whispered that I shouldn't leave my jacket hanging on the back of my chair, as I would be 'in trouble'. There were several other occasions where I would hear someone share their fear of getting 'in trouble', as if senior management would barrel around the corner at any moment and begin firing people. Needless to say, this overall wasn't exactly a supportive or constructive environment, something I quickly found drained my morale and motivation to do my best work.

    Advice to Management

    If you want to hire and retain the best fresh talent, listen to and work with employees when they ask for what they need in order to do the best job they can.

    Strive to foster an environment where people feel like they can grow, change, succeed, and fail constructively.


  5. "Senior Help Desk Technician"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Representative TECH in Waltham, MA
    Former Employee - IT Representative TECH in Waltham, MA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Commonwealth Financial Network (More than 3 years)

    Pros

    Good corporate culture, potential for high bonus figures. Good atmosphere and work/life balance. Work hard, play hard, and generally get along with all coworkers.

    Cons

    Potential for high bonus figures results in typically low base salaries. Did not feel that there was a high emphasis on continuing professional development / training / certification.

    Advice to Management

    I generally never discussed much with senior management directly. I feel that they could push the kool-aid a little less strongly, but otherwise it felt like a fairly decently-run company.


  6. Helpful (2)

    "Compliance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Approves of CEO

    I worked at Commonwealth Financial Network full-time

    Pros

    Fun culture and team environment

    Cons

    Low pay compared to industry


  7. "Client Services Representative"

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

    I have been working at Commonwealth Financial Network full-time

    Pros

    Flexible work day Flexible with time off

    Cons

    Not really sure that I can think of anything

  8. Helpful (1)

    "Financial advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Wealth Advisor in Lexington, SC
    Current Employee - Wealth Advisor in Lexington, SC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent training and support to learn all aspects needed to successfully accomplish this job. Technology is outstanding, providing easy to understand training.

    Cons

    Sometimes expectations for the CFP certification and the timeframe to accomplish it are more difficult to meet.not being able to have enough hours in the day to do all those expected.

    Advice to Management

    Excellent company with superb mentoring. Caring individuals who sincerely desire to help me succeed.


  9. "Entry Level Job for Entry Level Pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Transfer of Assets in Waltham, MA
    Former Employee - Transfer of Assets in Waltham, MA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great atmosphere, bagel Fridays, real team approach to everything if you like the sort of fake happy office politics. A lot of people truly love one another and some even have married one another. Pretty easy work

    Cons

    PAY!, can't stress this one enough. The company is known for a good place to work, but at the cost of a livable salary. You can't afford to work here and live in Boston with a decent lifestyle. Growth opportunities are also a big thing. Although spots do become available, typically hiring is done from within and tenure overrules personal drive.

    Advice to Management

    Pay your employees better. Bagel Fridays are great, but not when its the only thing we get to eat that week


  10. Helpful (2)

    "Sql developer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - SQL Developer in Waltham, MA
    Former Employee - SQL Developer in Waltham, MA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Commonwealth Financial Network (Less than a year)

    Pros

    Good company culture and great people

    Cons

    Need more discipline and better direction to manage rapidly growing team

    Advice to Management

    Focus more on big vision and resource allocation


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