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Good People, Good Money, Perpetual Circus - Anonymous employee Avantax Employee Review

3.0
May 1, 2023
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The compensation at Avantax is good compared to other places I have worked in the same industry. Coworkers are generally very hard-working individuals with a good sense of humor and expertise in their field. Avantax offers a good benefits program.

Cons

Although things have improved over the past couple of years, working at Avantax is often a three-ring circus of disorganization, a revolving door of executives, and out-of-touch leadership. Last minute changes and requests from upper leadership are frequent, this in combination with many departments being lightly staffed, leads to a very high-stress work environment 85% of the time. Lack of procedural efficiency and disconnected management means you primarily fend for yourself in difficult circumstances, subject to the whims of many and bracing yourself against the unbridled storm. The "infinite" PTO policy is laughable, as there is often not enough departmental coverage to take PTO in the first place. Very limited vertical mobility exists. More sideways mobility is available but only for select kinds of positions.

Explore other reviews about Avantax

5.0
Sep 19, 2024
Recommend
CEO approval
Business Outlook

Pros

Great people and culture. Everyone is open to lots of conversations.

Cons

Slow to growth when it comes to promotion

2.0
Jan 25, 2025
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The people are great. Direct managers are good people.

Cons

Cetera took Avantax over in 2024. The insurance got worse while the premiums were the same or more expensive. They cut the guaranteed 4% 401k match to a 2% match, with a discretionary 3% extra at the end of the year IF deemed the company did well/could afford it. Seems low for a wealth management firm, and I don't love the uncertainty of not getting the additional 3% due to things outside my control. We probably won't be getting bonuses for the 2025 year, but no word yet on that. So my overall compensation has gone down.. meanwhile, Cetera has dictated a return to office mandate for twice per week. I live quite far from the office (1+ hour each way, many days 1hr 20m to 1hr 40m.) So that's 4-6 uncompensated hours now being taken away from my family, plus tolls, plus gas. When I requested to work fully remote, I was told they were not permitting it even due to distance. Then I asked to have a conversation regarding my annual compensation (I make less than $50k a year, which makes this drive even more of a burden on my household,) I was told there would be no adjustments. Cetera did not do a bunch of lay-offs when they acquired Avantax, so I'm getting the feeling they are hoping for people to quit with their new mandates, rather than being understanding that many people were hired on when the drive was twice per quarter. So, unfortunately, I am having to look for something closer to home and will have to start all over at a new company. Very disappointing.

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