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Commonwealth Financial Network

Engaged Employer

Disingenuous, tone deaf, out of touch, stingy - Operations Commonwealth Financial Network Employee Review

1.0
Feb 29, 2024
Recommend
CEO approval
Business Outlook

Pros

Commonwealth hires good people that I enjoy working with, the insurance is good, PTO is decent. Work life balance is good except for excessive unnecessary commuting.

Cons

Where to begin... first, the remote work policy. Mandatory 3 days on premises. Last summer, the CEO himself said if you have symptoms of illness and need to work remotely, that's fine, that wasn't the intention of the new policy, and that they weren't going to be counting badge swipes. Now, they're literally doing just that. The company would literally rather your productivity be ZERO and use PTO than have you work remotely if you have a cold but could still work, which completely contradicts the reasoning behind the policy, which was to increase collaboration and improve the advisor satisfaction score. In operations, having a person out of the office means 60-80 cases not getting worked on that day that could have been. Secondly, the policy contradicts the company's illusion of diversity and inclusion. Nobody working an operations job could afford to rent in a town that's truly easily accessible to the office without living with several roommates. Now, consider that a disproportionate number of people of color live in communities that are entirely impossible to reasonably access the office three days a week. To do what? Bury your face in a computer screen to have Teams meetings you could have had at home anyways. The C-level is all white, the CEOs reports are (almost) all white, but there are a few women. There's no reward for hard work. You can score a 4/5 on your annual review and still be punched in the gut with a 3% standard pay increase, which for the record, does not even meet inflation in 2023 to 2024. So essentially, don't bother trying hard, it won't matter anyways. Why? Because even the bonus is garbage. They changed the bonus structure to effectively gut most of the annual bonus, and then proceeded to move the goal posts up until the day our annual reviews and compensation were made available, so even top performers got less than anticipated. It's almost like the poor communication around how the bonus funding and pool would work was completely intentional so they could tailor it to whatever fit a budget they had already predetermined. The company is so focused on their trillion dollar goal, they will sacrifice anything, including incredible talent, employee morale, and their integrity.

Explore other reviews about Commonwealth Financial Network

5.0
May 14, 2026
Recommend
CEO approval
Business Outlook

Pros

Honestly CFN has been the best job of my life. Despite the acquisition of LPL I still think my direct manager is very supportive and there for our team. The work life balance (for now) is still great. My WFH days to help a lot. Even though some people feel bearish of the future of CFN I remain a bit hopeful. I truly hope LPL does allow us to remain a separate subsidiary permanently as our culture is quite unique. So far the M&A has not been too bad on us and in my opinion things are leaning toward the positive.

Cons

LPL acquisition should have never happened . Certain tenured folks have favoritism which is inappropriate

2.0
Jun 3, 2026
Recommend
CEO approval
Business Outlook

Pros

We get free bagels on Mondays

Cons

LPL purchase has changed everything that made the company great. Used to be a tight nit company with great perks and benefits. Upper management sold out and all of that was lost. Most of the employees feel betrayed, and so do the advisors. Within 2 years CFN will be entirely absorbed and the company we once knew will no longer exist

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