Hennion and Walsh Reviews

Updated Apr 18, 2018

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3.4
57%
Recommend to a Friend
65%
Approve of CEO
Hennion and Walsh President William Walsh (no image)
William Walsh
36 Ratings
  1. Helpful (3)

    "Not perfect, but generally very good"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Parsippany, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Hennion and Walsh full-time for less than a year

    Pros

    The company cares about its employees and provides ample flexibility. Coworkers are very nice people and employees tend to spend time together even away from the office. Very low office politics here compared to my prior jobs in both larger and smaller organizations. As a Financial Advisor, the single biggest benefit is the free leads and the fact that one's effort is more or less the only determinant of the size of one's paycheck. You'll notice that a fair amount of negative feedback on this site comes in the form of former employees (usually former training program members) complaining about pay and the strenuousness of the work. Let me break that down...in my personal experience, the firm is 100% clear on what it pays its trainees, and that the training program is very difficult. Somehow, many recent college grads don't seem to believe the hiring managers during the interviews. I actually believe the honesty of the owners and organization is a real feature here. Financial Services sales are difficult no matter what firm one is at. It is a highly competitive space and unless one can produce revenue, the pay will not be to one's liking. For those who can persevere and learn to sell, the light at the end of the tunnel is a very competitive paycheck and the satisfaction of knowing that you really helped investors.

    Cons

    The cons of this firm are almost all related to its size relative to its' competition. Since the firm is privately held, the benefit is they don't owe shareholders any answers when they want to invest in the business....but it also means that the resources the firm has cannot be compared with those of a publicly traded institution that can spend gazillions on whatever it wants. Therefore, the benefits package is not as good as some that are offered by competitors, especially the large ones. And paying half of the health insurance premiums can take a good bite out of one's paycheck. Add-on insurance options are available, but not included in the standard package, so more money out of pocket (to be fair...skyrocketing health insurance premiums are not their fault). 401k match is OK, but the plan is not amazing. Pay is obviously very good for producers, but the firm is predictably less generous for anyone that is not tied to producing revenue or producing superior results otherwise. Makes sense, but frequently creates frustration nevertheless. The firm tends to be too lenient at times with employees that fit well into the corporate culture but may not be as productive as they could/should be. That can cause grief when some eventually leave or get terminated as they take to sites like this with an axe to grind. If you see reviews here that reappear frequently or "borrow heavily" from other reviews, odds are it's a disgruntled employee, often with absurd accusations. Resources can be tight at times. Since the firm likes to retain people for the long haul, they tend to not hire employees on a whim, so existing employees can sometimes work more than one job for weeks until a suitable replacement is found for the job they are covering.

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  2. Helpful (7)

    "Past employee- horrible place to be"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Sales in Parsippany, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Hennion and Walsh for more than a year

    Pros

    None - keep on sending out resumes, keep on interviewing you will find somewhere better. If you are fresh out of college don’t fall for it

    Cons

    Threaten you with a $50,000 fine if you leave and use your licenses anywhere else. Expect you to make 500 calls daily to lists of people that have been harassed for years. They’ll blow smoke in your first couple months saying to keep smiling and dialing it’ll eventually come but never does. One guy constantly preaches the “quality of life” at this place but you will be miserable. They will lie to you saying you’ll make 100K by your third year but I asked around and the best salesman in their third year was making no more than 50K

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  3. Helpful (4)

    "Broker"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Broker in Parsippany, NJ
    Positive Outlook
    Approves of CEO

    I have been working at Hennion and Walsh full-time for more than 3 years

    Pros

    Free training materials and licensing. Once comfortable on the phones you are given access to leads through an extensive database built from 27 years of marketing and growth. Specialty in high quality fixed income which caters to conservative investors and high net worth individuals. Mentorship and access to upper management throughout the growth period prior to moving to full commission.

    Cons

    Hard work and long hours during licensing and training period which can last up to a year. Most trainees cannot make it past the first year due to lack of focus and commitment that goes along with a full time sales job. You will have to make sacrifices to get to full commission but once growing your own book of businesses the promises that are made to you by management come to fruition.

  4. "Investment Associate"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Hennion and Walsh full-time

    Pros

    Very fun and informative work environment

    Cons

    Could be a little dull

  5. Helpful (23)

    "A Poor Man's Boiler Room"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Associate in Parsippany, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Hennion and Walsh full-time for more than a year

    Pros

    -Received my Series 7 and 63 licences within a fairly short period of time due to a out-dated yet effective method of studying in which the study materials are provided. -Made some life-long friends because I feel as though I rushed a fraternity with the other recent college grads I was in the training program with.

    Cons

    Where to begin... -The salary is $2,000 a month which is unfair, inadequate, and embarrassing. (However management will tell you that you will earn around $40,000 your first year which is a flat out lie) -From day 1 you will be making cold calls from 8:30am to 6:30pm. (~600 per day) -You are given "lead sheets" that have been used and passed down for almost a decade. Good luck finding a bond buyer in those. And after a few months when they run out of leads they will recycle the "lead sheets" and pass them out again amongst your peers and now the kid sitting next to you is now calling the same people you called last week. I think I would actually rather attempt finding a needle in a hay stack... -Although the core of their business is over the phone, men are still forced to wear a full suit and tie (white button down only) every day. Its 2017 and not 1990...but hey, at least we looked good while getting berated and hung up on over the phone. -You will also be given 0 days of PTO and looked down upon for taking a single day off because "When I was your age I didn't take my first day off for 3 years" -If you are lucky enough you will be chosen to clean the bar, do the dishes, take managements cars for washes, pick up lunch for senior brokers...but hey anything that gets you out of 10 minutes of cold calling is ideal, so maybe add that to the pros? -Listen there are so many other jobs out there where you will be given more respect, a higher salary, and more responsibility. I understand your first job out of college may not always be easy but trust me when I tell you there are better opportunities out there and I am in no way salty things did not work out. I simply want to help the next college kid looking for his start in the financial industry so he/she does not make the same mistake that so many of us did.

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  6. Helpful (10)

    "Unprofessional"

    1.0
    Former Employee - Investment Associate 

    I worked at Hennion and Walsh full-time

    Pros

    Hennion & Walsh will sponsor your Series 7 and 63 however they will threaten to sue you for $50,000 if you leave within the first three years

    Cons

    --Unprofessional- Be prepared to get hazed and yelled at for not selling enough bonds --Poor resources- Hard to succeed with the resources given. Your only resources are a phone and a list of names. You don't even get a computer. --Low pay--You will make $2,000 a month. Your job will consist of making 600 dials a day and trying to convince old people to buy tax free bonds. --Pyramid scheme-If you are able to sell a bond you will not get to keep the commission, it will go to a senior broker --The leads are dead- The leads you are given have been called through 100s of times by other brokers. The poor people on the list have been harassed by Hennion&Walsh for years and will not be happy to hear about your tax free bond offering.

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  7. Helpful (6)

    "Broker"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor in Parsippany, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Hennion and Walsh full-time for more than 5 years

    Pros

    I have worked at Hennion & Walsh for over 7 years. I started in the training class right out of college and had no idea what the real working world was like. Yes, the training class is tough with long hours and low pay but the training class is what sets H&W apart from the rest of the broker dealers. They want to set you up to succeed. Most of the reviews I’ve read were from trainees that quite within the first 2 years. They expected the low hanging fruit and were shocked by the amount of work it takes to be successful. H&W provides the study material and agenda to set you up to pass your series 7. It’s up to you to put in the time after work and on weekends to pass the test. (At my new job, I am watching kids fail over and over again because they have to study on their own agenda/material) H&W also supplies you with leads for you to grow your book of business and once again you must put in the time in order to make money and be successful. The phone rings off the hook with opportunities for you to grow; you just have to pick them up. H&W is truly an open/family company. I felt comfortable calling anyone in the office and asking for help. From the partners to all the VPs, each would take the time to answer questions and help in any way they can. We become family over the years. We are there for each other and care to be involved with each other’s lives. We hang out with each other’s families, on weekends, at children’s birthday parties/graduations, at vacation houses. It’s hard to sit down and list all the great things about H&W but I don’t have enough space to relive the last 7 years of my life. I truly miss the day to day fun and I still talk to the partners, VPs, and others each week.

    Cons

    The first two years are very frustrating. You are a college grad. Most people today graduate with a degree, you are nothing special, so put in the time and work to set yourself apart, gain a successful career and make some friends along the way.

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  8. Helpful (8)

    "Marketing"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Disapproves of CEO

    I worked at Hennion and Walsh full-time

    Pros

    None- did not have a good experience

    Cons

    Too many- dont waste your time

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  9. Helpful (3)

    "Financial Trainee"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     in Parsippany, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Hennion and Walsh

    Pros

    They give you access to the materials, tools, and knowledge to begin a career in finance, even with little or no experience/finance background. Competitive environment. Management wants to see you succeed.

    Cons

    Essentially an inside sales position to start, with more responsibility added over time. Long hours on the phone is not for everyone.

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  10. Helpful (8)

    "Financial Advisor/Bond Broker"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Hennion and Walsh

    Pros

    I have been at Hennion and Walsh for over 20 years. As a kid out of college when I took the job, I knew very little about the financial industry. I knew even less about a small NJ firm that specialized in municipal bonds that had only been around for a few years. Frankly, I was just happy to have a job. After 2 decades of being in the business, I realized I got quite lucky working here - and I have had a great career as a result. I have many contacts and friends that work in the industry, so while I may have known very little starting out, I have grown to appreciate what this firm represents, and their unique approach to money management. As a cornerstone to most safe portfolios, municipal bonds are a great way to build a rock-solid business. Very few investors keep their stock brokers or "aggressive growth" portfolio managers - due to the volatile nature of the securities. Municipal bonds are a great way to start, and more importantly retain clients for a long period of time. The firm has expanded to offer managed growth portfolios, so while 20 years ago we could not help clients with that side of their investments, we now have a much more balanced array of financial services we can offer. They also offer estate planning and insurance advice for those that need it. I know of no other firms that allow young financial professionals access to the enormous amount of advertising prospects that contact the firm directly. Most firms you are required to either call family and friends or just cold call. At Hennion and Walsh there are hundreds of people who either call, write in, or email the company looking for information or advice. All you have to do is pick up the phone. On a personal level, I have forged many long term friendships working here. There are many social events, trips, sports and recreational activities you may participate in if you choose to. If you are a loner and prefer to just work and leave, that's ok too.

    Cons

    I have read many of the reviews - both negative and positive - on this website. I will let you in on a little secret. This job is very difficult. Plain and simple. This is a sales position any way you look at it. The first year or two are especially frustrating. Which is why you need to look at this as a career and not a job. If you are just looking for a job you will hop from to the next one, my advice for you is to move on. Get a salaried job. But if you are willing to take a chance on something that could provide you with a rock solid career a few years down the road, then I would urge you to consider working here. There is an opportunity to join a paced business where the sky is literally the limit - for those that are willing to give it full effort. Those that are not will be posting about how awful this place is after a year. Don't take my word for it - look at all the reviews. You will rarely see a scathing review from someone who has been here for over 4-5 years. 90 percent of the reviewers have been here for a year or so, were not willing to give it 100%, and are bitter they failed. Use common sense when reading these posts - appreciate what is real, and what is sour grapes. Talk to the people have been here. Look at the cars in the parking lot. See who owns their own homes at a young age. You can fudge a review posted on a website - you can't fudge your life.

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Found 46 reviews