Envestnet Reviews | Glassdoor

Envestnet Reviews

Updated February 22, 2017
23 reviews

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2.0
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Envestnet Chairman, Founder, and CEO Jud Bergman
Jud Bergman
12 Ratings

23 Employee Reviews

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Pros
  • Great work life balance, slight load during start of year (in 13 reviews)

  • Nice people, good work environment (in 7 reviews)

Cons
  • sometimes (depends on the team) work/life balance could be better (in 4 reviews)

  • Legacy platforms zapping efficiencies (in 3 reviews)

More Pros and Cons

  1. Helpful (5)

    "Too top-heavy"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Approves of CEO

    I worked at Envestnet full-time (More than 10 years)

    Pros

    Jud Bergman is a visionary and a good corporate leader. Good and growing technology platform.

    Cons

    No alignment in the firm. No loyalty for long-term employees (everyone is expendable mentality). HR is a disaster. No formal reviews, compensation adjusted was ~2% annually - had one year my salary was adj -1%. I had 6 different managers in 5 years. Left hand does not know what the right hand is doing 90% of the time.

    Too many chiefs...


  2. Helpful (2)

    "Communication is non-existent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Berwyn, PA
    Former Employee - Assistant Vice President in Berwyn, PA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Envestnet full-time (More than a year)

    Pros

    Benefits (not pay), flexible, great co-workers, decent location, free breakfast, drinks.

    Cons

    Management gets an EPIC FAIL on communication, different locations are treated better and receive perks not granted to others. Never accept a job in operations. They are very unorganized and stressed out that is creates an unfavorable work environment. Get verbal promises in writing.

    Advice to Management

    I can only speak to the management I met during my employment. Lost, rude, angry and unhappy. How are new hires supposed to be engaged when it looks like everyone wants to quit? Get in touch with the PEOPLE and get off your self-absorbed mentality.


  3. Helpful (3)

    "Unstable Growth"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Relationship Manager, Manager Services in New York, NY
    Former Employee - Relationship Manager, Manager Services in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Envestnet (More than 3 years)

    Pros

    -#1 asset management platform provider.
    -Good balance between life and work
    -wholesaler of investment manager provider

    Cons

    -Leadership to focused on growth rather than stakeholder needs, i.e. compromising excellent client service.
    -Company lacks innovation, not flexible, slow to adapt to change, extremely rigid
    -Unable to retain talent
    -Poor monetary compensation and worst bonus structure in the industry

    Advice to Management

    Business model is inadequate to meet the challenges facing the wealth management advisory industry. Too much leverage and not enough customization offerings for an ever-changing client landscape.


  4. Helpful (3)

    "Healthy company lacking in training and management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Denver, CO
    Former Employee - Anonymous Employee in Denver, CO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Envestnet (More than a year)

    Pros

    Business is on an upward trend, compensation and benefits are decent, full buffet breakfast on Friday's, dress code not strictly enforced, fridge's have soda and juice for employees.

    Cons

    For a company with its own unique software platform there are no formal procedures, instructions, manuals or training. While learning new things on any job can be challenging, working at Envestnet is like being thrown into quicksand. Hostile work environment, and management is non-existent.

    Advice to Management

    Too much to try to fit into a 20 word minimum!


  5. Helpful (12)

    "So much potential but lack of management structure results in massive inefficiencies"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Envestnet full-time (More than 5 years)

    Pros

    People are great & most genuinely want to do the right thing

    platform suite has an amazing amount of features

    current position as industry leader brings resume cache

    They've grown in spite of the cons, so "something" is working right. This is the sole reason I'm not giving Jud a positive mark - think all the cons lie at the feet of people further down

    Cons

    Organizational structure is a mess - people rarely know how anything works if it is not their day to day job, so cross functional actions are managed via chaos

    Executive management does not communicate plans among themselves - they each have their area of ownership and run it as they see fit without considering, or discussing, the impact on other areas

    Problems are managed thru workarounds vs permanent fixes. Its amazing there hasn't been a bigger downside than continually increased inefficiencies

    People working in Chicago are treated like true Envestnet employees while other locations are viewed more like cogs to support the machine. "True" employees are rewarded with loyalty and credit for success; cogs are easily replaced and success is attributed to "doing their job".

    Advice to Management

    Take a breather from acquisitions and focus on integrating the last 6 companies. Workarounds result in exposing end users to our inefficiencies, which reduces confidence and increases their interest in looking at alternatives. Workarounds also cost more bodies, which are expensive - focus on permanent fixes to cut costs and inefficiencies.

    Do something about the development queue. Technologists are currently the gatekeeper for deciding if a project is worth doing and that is the exact wrong structure. Stick with quarterly releases for major initiatives but have a separate unit that is nimble and can focus on development related to increasing efficiency of employees and bug resolution. The current backlog means that only those projects that are tied to the most revenue potential are considered.


  6. Helpful (3)

    "Finance Department"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Denver, CO
    Former Employee - Anonymous Employee in Denver, CO
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Envestnet full-time (More than 3 years)

    Pros

    Company norm is to have casual Fridays, but no one cares if you were jeans throughout the week as long as there aren't clients. They provide breakfast of Friday. They have the fridges stocked with juice and soda.

    Cons

    Employees are overworked and underpaid. Management doesn't hold anyone accountable for not performing their job or doing it incorrectly. The employees who do a good job are given more work, while those who don't perform are given less work. Band aids are put on problems instead of finding the source of the problem and solving it from there. They hire people who do not have the right education or experience for the job.

    Advice to Management

    Manage!


  7. Helpful (9)

    "If I had known the issues before starting I never would have accepted the position."

    Star Star Star Star Star
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend

    I have been working at Envestnet full-time (Less than a year)

    Pros

    Office staff is very welcoming to new employees. On site benefits include free juice and soft drinks (when in stock).

    Cons

    HR department is not very helpful at all, I have not been able to get them to set up my account on the third party website for reimbursement of Flex benefits, but money is being taken from my checks. The AP department is extremely inefficient and any suggestions that I made to make the process more streamlined were not even taken in consideration.


  8. Helpful (7)

    "High growth company with poor management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Denver, CO
    Former Employee - Anonymous Employee in Denver, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Envestnet full-time

    Pros

    Good people to work with for the most part. Work-Life balance is okay but could be heading in the wrong direction if they aren't willing to pay more to get and keep talented employees. Growing company on the forefront of their industry.

    Cons

    The lack of communication seems to be overwhelming throughout departments. Recent changes in management style is leading to more micro-management and more working hours. Under-staffing is becoming an issue. The compensation and benefits are awful in comparison to the industry. Management is completely out of touch. There was almost no praise or recognition (verbal or otherwise), but you will be blamed for mistakes made by lack of training and ever-changing systems.

    Advice to Management

    Allow more flexibility and trust to your employees. Understand that the high rate of growth of the company is leading to confusion and inconsistency in daily tasks. So much growth is only sustainable for a limited amount of time. Give more recognition and encouragement, and treat employees like the valuable assets they are to your company.


  9. Helpful (3)

    "Good technology but firm has a bit of an identity crisis"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Regional Consultant in Boston, MA
    Current Employee - Regional Consultant in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Envestnet full-time (More than a year)

    Pros

    Talented colleagues for the most part. Decent compensation, very good technology.

    Cons

    Benefits were pretty cheap, medical in particular. The technology was good but the firm also tried to do too much. Some of the functionalities are too complicated to use hence nobody uses them despite significant cost to build.

    Advice to Management

    Ease of use is more important than being all things to all people.


  10. Helpful (3)

    "Overall feeling and satisfaction of the enviorment."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Service in Los Angeles, CA
    Former Employee - Client Service in Los Angeles, CA
    Recommends
    Neutral Outlook

    I worked at Envestnet full-time (More than 3 years)

    Pros

    Co-Workers make the place a great enviornment.

    Cons

    Too much politics with some departments.

    Advice to Management

    focus on employees


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