Financial Engines Reviews | Glassdoor

Financial Engines Reviews

Updated November 19, 2017
129 reviews

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3.1
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Financial Engines President & CEO Larry M. Raffone
Larry M. Raffone
54 Ratings

129 Employee Reviews

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Pros
  • Great work/life balance, very easy to work from a remote location or home when needed (in 16 reviews)

  • It feels good to build useful applications that help people plan their retirement (in 10 reviews)

Cons
  • I have not seen any good plan for career growth/training as of now, but I believe work is under progress (in 6 reviews)

  • Over the last year, the sole purpose this position exists has become to generate leads for branch mutual fund store advisors (in 5 reviews)

More Pros and Cons

  1. Helpful (1)

    "Great financial planner opportunities"

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

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

    Pros

    If you are an experienced financial advisor and are sick of the constant prospecting and being put in the position of selling commission products, you should consider Financial Engines. Great benefits package, salary plus AUM fees, steady lead flow provided by firm, FeeOnly Fiduciary providing comprehensive, goals- based financial planning. Also has rapid growth so plenty of room for advancement.

    Cons

    A bit of corporate micromanaging but genuinely love my job.

    Advice to Management

    Keepup the great work!


  2. Helpful (8)

    "Once upon a time there was a ship called Titanic ....."

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

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

    Pros

    Clean water. Free snacks. There is still some passion left.

    Cons

    This company once upon a time was way ahead of the curve but like all good things it's glory days are coming to an end. This company will be remembered in the annals of corporate America as a great example of reverse takeover. The Mutual Fund store execs run this company now. No technology direction, no product direction, no marketing direction. Their growth strategy is to fire everyone and simply hire a bunch of advisors (check the careers section page). Funny story, advisors are actually the most miserable bunch who are asked to get on the phone and cold call people for their money instead of helping everyday Americans retire better. Competition is eating their lunch, employees are overworked but their feedback is never listened to, no career growth, managers are clueless and the company is cutting cost (and corners) in every way they can . There is backstabbing and politics all around. Telltale signs of people trying to survive on a sinking ship.

    Advice to Management

    Have an exit strategy. Sell yourself to Vanguard or Fidelity now before they takeover anyway for peanuts.

  3. Helpful (1)

    "obsolete products and technology"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analytics Engineer in Sunnyvale, CA
    Current Employee - Analytics Engineer in Sunnyvale, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    This is a very conservative company in a very conservative industry. If you like it you are in right place.

    Cons

    Products and technology are obsolete. No innovation. Usually things are 5-10 years behind industry standard. Some departments have very high turnover, like 100% in 2 years.

    Advice to Management

    Management is not dynamic. Old boys network rules the place


  4. Helpful (1)

    "If you need a job quickly, try this company"

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

    I have been working at Financial Engines full-time

    Pros

    Profitable company with a social mission. Good benefits. If you're a mediocre engineer, this is a great place to work. Company is expanding, so it's easy to get a job.

    Cons

    If you're not an engineer, or you're an engineer looking to excel and keep growing professionally, you can do better. Poor pay. Some indications that the company isn't doing as well financially as it used to.


  5. Helpful (7)

    "Not a job in investments, everything revolves around sales!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Advisor Representative in Phoenix, AZ
    Former Employee - Investment Advisor Representative in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Just like everyone else lists, free snacks? Company truly wants to be a fiduciary deep down, just needs some adjusting.

    Cons

    As a former "investment advisor", my reasons for leaving was that the job itself had nothing to do with actually advising clients. The role is an inbound call center, where you take back to back calls from clients attempting to cancel their relationship, who most of the time didn't even knowingly sign up for the paid service, and your job is to stop them from cancelling. The company has hired numerous sales consultants, which has become the company culture, to help you psycho analyze clients in a 5 minute phone call in efforts to sell them on deepening their relationship with financial engines, and for a higher priced service. Client suitability means nothing, sales and retention mean everything. And management is forced to push that agenda as well, so every interaction at every point in the day revolves around how many sales you have for the day.

    Initial training wasn't a thing, a few days to learn the system then off you go. After over a year of working there, I was still never able to get an explanation of the methodology behind the advice I was supposed to be giving clients. This very often lead to awkward conversations with clients that were even half way investment savvy.

    PTO was a thing, but there were weeks of blocked off days due to not having enough "advisors" to man the phones. Lots of turnover.

    If you're interested in sitting in a cubicle all day, taking a 30 minute scheduled lunch, with break times scheduled for you as well, and cranking out phone calls where you act as part retention specialist/salesman, go for it.

    Advice to Management

    Deal with advisors like they are actual intelligent people, in most cases, and dont just mindlessly push sales dialogue. They job isn't that enjoyable, at least try to help the situation.


  6. Helpful (6)

    "Ok job but definately not a career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Engineer in Sunnyvale, CA
    Former Employee - Engineer in Sunnyvale, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Good work life balance, nice office, free gym membership

    Cons

    This is a difficult question to answer cause it would vary from one person to another depending on their role and expectation. From an engineer's perspective this place is a NO GO. There are some good engineers but unfortunately the progress ladder is all based on your relationships and has nothing to do with your work. Which leads to a culture where engineers change the gears and focus on relationship building than engineering. Calling the technical leadership stupid may be too much but from engineering perspective they are nothing less than stupid since they think they know all of it. Part of it comes from the long tenure of some people which makes them super comfortable. They don't disturb anyone and nor do they like to be disturbed. Nothing against those people in particular but they kind of block the path for everyone, imagine it like some old people driving slowly on highway and instead of just one lane they are in all the lanes. Though they have good reasons to drive slow but by taking over all lanes slowing everyone else.
                        All good engineers I knew of either left the company or changed their ways unfortunately (mind when I say not so good engineers it does not mean bad people) .

    Lately there is some pattern visible in the hiring too, a lot of engineering hires are from the same company. This usually happens in couple of scenarios, either there was a layoff in a company which used to operate in the same business domain or some one moved along with their complete unit to from another company. Any other reason is a big red flag for anyone with some common sense.

    Advice to Management

    Every one is play the game and trying to sing with their best voice to the tunes of their boss. This should be a part of job requisition. Cause there are some people like me who have an understanding that everyone has a role to play and they are hired for that job. Keeping their boss happy is no where specified in job requisitions. Please do not include tons of technologies in the job requisitions, no one at the company knows even 1/4 of them.


  7. Helpful (7)

    "Leads R Us!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Advisor Representative in Phoenix, AZ
    Former Employee - Investment Advisor Representative in Phoenix, AZ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Free snacks, reasonable schedule, checks don't bounce...coworkers(not management) are decent. The job was different earlier on and there were more pros, but those days are long gone.

    Cons

    The role of investment advisor has nothing to do with investments. Over the last year, the sole purpose this position exists has become to generate leads for branch mutual fund store advisors. You are interrogated and harassed via face to face interactions, emails and chats dozens of times per day to ask how many leads you have. Everything revolves around leads. Every inter office competition, every conversation, every team meeting, all about leads. Overkill would be an understatement, it was blatantly aggressive. I honestly don't know how they can legally call themselves a fiduciary in that environment.

    Advice to Management

    Expand your thinking past leads. There are many other ways to help clients as well and trying to jam every square peg in a round hole just isn't going to work. Lay off the Wells Fargo type sales pressure, you see where that got them don't you?

  8. Helpful (7)

    "Horrible People"

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

    I worked at Financial Engines full-time

    Pros

    Their new office is great.

    Cons

    Never quite understood why these guys got named as one of KC's best companies to work for. No one there matured past the age of 14 and it's all a popularity contest. They're rude, arrogant, and above all, out for themselves and no one else. No sense of camaraderie nor willingness to work as a team.


  9. Helpful (3)

    "Investment Management"

    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 Financial Engines full-time (More than 3 years)

    Pros

    Great teamwork environment. Senior leadership cares about clients and employees. Great work/life balance, very easy to work from a remote location or home when needed. Just launched a women in leadership program. Very diverse workforce.

    Cons

    Results often tied to the unpredictable swings in the stock market. Still, company has a long term vision and manages through these market recessions without cut-throat behaviors. Even with great teamwork, projects are very complex and require several groups to work closely together over extended periods of time. This can sometimes lead to a disconnect with other groups and their programs. It's not that people don not want to share, it's sometimes hard to know who to share with.

    Advice to Management

    Keep it up, really enjoy the challenges and collaboration. It feels like a family. A geeky family, but a good family. Keep up quarterly reviews it nice to know what other parts of the company are doing and giving us context on strategy and goals for the near term as well as long term. I like knowing how the pieces fit together and how my efforts contribute to the whole.


  10. Helpful (4)

    "Don't be fooled!"

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

    I have been working at Financial Engines full-time

    Pros

    Okay PTO plan, if you ever get to use it. Free drinks in the break room. Not much else though.

    Cons

    This company hires people by talking up its executives, employees, mission and culture in interviews. Don't be fooled. The employee onboarding and training? Awful, and next to none. Forget about ever getting to know others within the organization outside of your department, as employees are not friendly and there is NO effort to get to know one another. Not to mention there is no emphasis by the company on that either. They talk up the flexibility of the company; great PTO plan, availability to work from home, etc. PTO: only take if they let you, its not busy or others on your team aren't gone (NEVER HAPPENS). Work from home, but be prepared to be micromanaged as you do so. You will notice that most of your fellow employees have no idea what they are doing, again pointing to the lack of training in all respects. Overall, since I have been working at Financial Engines (quite a while), I have never gotten a sense of what they promised me in my interview: that the company and its executives care about the employees. Off brand snacks and some juice in the fridge is nice, but all companies have that these days.

    Advice to Management

    Try harder. Try harder to show your employees that you care, because sometimes that's more important than anything you'll deal with in the business.


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