Edelman Financial Engines Reviews | Glassdoor

Edelman Financial Engines Reviews

Updated February 12, 2019
215 reviews

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3.2
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Edelman Financial Engines President & CEO Larry M. Raffone
Larry M. Raffone
78 Ratings

Employee Reviews

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Pros
  • "Great work/life balance, very easy to work from a remote location or home when needed" (in 18 reviews)

  • "Nice office space across all locations" (in 9 reviews)

Cons
  • "They talk the talk, but don't walk it Since Mutual Fund Store was acquired by Financial Engines - it has really been a mess" (in 7 reviews)

  • "Ever since Mutual Fund store execs got a more prominent seat at the table, the new faces in management cannot be trusted" (in 7 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (3)

    "FinTech Growth Company"

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

    I have been working at Edelman Financial Engines full-time (More than 5 years)

    Pros

    You are rewarded for your hard work
    Awesome culture
    Competitive pay
    Great benefits package
    You own your career path

    Cons

    The most recent acquisition/merger has created some unknowns, but I firmly believe that FE will continue make decisions that are in the best interest of their clients and employees, alike.

    Advice to Management

    Continue to be advocates for your employees. Continue to actively listen to the feedback provided by your employees and take appropriate action.
    Continue to learn from past “mistakes”.
    Continue to be willing to grow/develop as this will only encourage growth/developement from your directs.
    Continue to lead by example.


  2. "Intern"

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

    Pros

    Nice people, good culture though a bit corporate-y

    Cons

    interns are not kept very bust

  3. Helpful (3)

    "Great company, but not for everyone"

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

    I worked at Edelman Financial Engines full-time (More than 3 years)

    Pros

    Fantastic training
    Great mentoring from advisors (biggest value the firm offers)
    Great benefits
    Great place to grow professionally at the beginning of your career
    Tons of opportunity to advance if you are not trying to become an advisor
    They give you the time and resources needed to obtain professional designations

    Cons

    Lack of opportunity for those looking to move into an advisory role
    Inconsistent attempts at creating development programs
    Manager turnover is HIGH
    Cultural separation between advisory and service positions is high

    Advice to Management

    There are a lot of talented individuals in your firm that believe in the mission and want to stay there. Take the time utilize that talent for your own benefit.


  4. Helpful (10)

    "CSA’s"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Associate
    Current Employee - Client Service Associate
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Edelman Financial Engines (More than 5 years)

    Pros

    Initial training when first hired is great, full two weeks of learning the systems and an introduction to the company. There are mostly pleasant people to work with through out the company.

    Cons

    1. CSA’s are treated like workhorses, if you show that you’re great at your job, you’re not rewarded, you’re just handed more work and more planners. Which is probably why there are so many CSA job openings all the time, no one wants to be one.

    2. There are no promotions available for CSA’s. There was long ago a CSA II position that meant you were a great CSA with slightly better pay, but the company has been “considering” new positions within Client Service for years...so pretty much they just want to hire CSA’s to churn out as much work as possible while treating them without respect, with little pay and no promotions. Also, there’s no downtime to try and learn any new skills to work towards another position in the company. Before the company stopped holding FINRA licenses, you were only able to study for a license that was needed for your position, if you wanted to study for another license , you were told “sorry that license isn’t needed for your position, so we won’t sponsor your test or materials.” AKA you will forever be a CSA because they don’t care about your educational growth that could actually benefit their company in the long run.

    3. Planners run the company. Every time leadership speaks out they always mention “the planners”, no one else is mentioned or cared for. Because of this almost all planners have it in their heads that they are the best, they should be given everything they want and if not treated in that way then they throw a hissy fit. Planners are given far too much leeway when it comes to their work time. Many stroll in around 10 or 11 and leave at about 3 or 4 leaving their CSA’s to cover their calls for them. They “work from home” far too often. It’s sad the way the company just feeds their egos and their work style, while the rest of us are given no freedom.

    4. Only part of the company gets unlimited PTO, the rest get a reasonable amount of earned PTO, but be warned, you can only use what you earn. There’s no borrowing from future PTO like at many other companies, and god forbid you ask to work from home for a day like many others are able to.

    5. Technology is horrible, outdated and their choices of “improved technology” are painful. There are no laptops in sight, strictly desktops that have more problems than storage space. This company is far behind other financial firms with technology which makes being a CSA quite frustrating. Also, when the company asks you to work remotely from home (only during bad weather) you have to log in through a system on your home computer, this system only allows a certain number of people to work from it at a time, so you’re constantly kicked off while to work, another view of their great technology.

    6. Communication is selective. The executives pick and choose what they’d like you know and hear, but they tell the planners everything. So a CSA may not know about a change in policy for weeks, while their planner has know all along and doesn’t tell you.

    7. Management of CSA’s has changed drastically since the company merger. Before CSA’s were able to speak with their manager and get help from them, they’d have bi-weekly CSA meetings so that you’d be up to date and aware of changes/news that would affect your job. Now, you’re lucky if your manager emails you back within 4 days, and CSA meetings no longer exist. The last CSA meeting that was held was back in August of 2018, and there have MANY changes in procedures that we were not told about, not to mention a new technology system was rolled out and we were told to rely upon a terrible PowerPoint presentation for questions. But don’t worry, A Planner Newsletter is sent out every Friday with updates, changes and news that effect them.

    Advice to Management

    I would list suggestions on how I think the company or at least the CSA position could be improved but they would be looked at and brushed to the side. So, I will just say refer to what’s listed above in the cons and go from there.

    Edelman Financial Engines Response

    Feb 27, 2019 – Edelman Financial Engines

    Thank you for taking time to write this review. We are glad to hear that you’ve found the CSA New Hire training useful and that you’ve had a positive experience working with your colleagues at... More


  5. Helpful (1)

    "Nice Company to Work"

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

    I worked at Edelman Financial Engines full-time (More than 5 years)

    Pros

    The company cares employee with sincerity. It often does employee's surveys to seek improvement in all possible ways. The severance package is very reasonable.

    Cons

    No time is left for self improvement even if self improvement is encouraged.


  6. Helpful (2)

    "Technical skills needed"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Portfolio Analyst in Sunnyvale, CA
    Former Employee - Portfolio Analyst in Sunnyvale, CA

    I worked at Edelman Financial Engines full-time (More than 3 years)

    Pros

    Smart people applying technology to investment management. I am a sucker for that combination, and Financial Engines has that in its DNA.

    Cons

    The firm's original idea was providing institutional quality at low prices to everyday investors. Increasingly, they moved away from that original mission.


  7. "Solid Company"

    StarStarStarStarStar
    Former Employee - Senior Analyst
    Former Employee - Senior Analyst

    I worked at Edelman Financial Engines full-time

    Pros

    Good culture and generous PTO

    Cons

    Tries to move too fast

  8. Helpful (7)

    "Management greed won out."

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

    I worked at Edelman Financial Engines full-time (More than 8 years)

    Pros

    Nice employees and snacks, drinks.

    Cons

    Horrible management, greed has won. Company original mission doesn't match current actions. Value for customer has not increased in years and fees far exceed value added. Your retirement nest egg will be far less due to high fees charged.


  9. Helpful (1)

    "Growing Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Administrative Assistant in Fairfax, VA
    Current Employee - Client Service Administrative Assistant in Fairfax, VA
    Recommends
    Approves of CEO

    I have been working at Edelman Financial Engines full-time (Less than a year)

    Pros

    4% 401k Match (Dollar for dollar)
    Great culture

    Cons

    Need enhancements in processes


  10. Helpful (15)

    "Don't work here-First, I heard about the verbal abuse. Then, I witnessed it. Lastly,.. It happened to me."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Service Associate in San Jose, CA
    Current Employee - Client Service Associate in San Jose, CA

    I have been working at Edelman Financial Engines full-time (Less than a year)

    Pros

    The CSA stick together and help one another.
    If you just graduated and need a job. Don't stay long.

    Cons

    First, I heard about the verbal abuse. Then, I witnessed it. Lastly,.. It happened to me.
    If you are looking to be underpaid and overworked this is the place for you. They will tell you that you will support one adviser and you will end up supporting 2 or 3. The salary is 30k below the market. They will not hold your Series 7 & 63 licenses. The Advisors and Management mistreat the women. Now, I understand why the girl before me quit after a couple months!
    Sadly,an employee told me being yelled at and mistreated was part of the job.

    Advice to Management

    You need to have quarterly harassment training for the men in your company!
    Raise the salary to reflect the market that you are in. You preach saving money for retirement is a must. However, how can your employees do that when you are underpaying them!