Penson Worldwide Reviews | Glassdoor

Penson Worldwide Reviews

7 reviews

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3.0
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Penson Worldwide Interim CEO Daniel P. Son
Daniel P. Son
3 Ratings

7 Employee Reviews

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  1. "Great opportunity to learn a wide range of the clearing business."

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

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

    Pros

    Collegial atmosphere and caring senior executives.

    Cons

    Some mid-level mangers were very political and would attack peers at every turn.


  2. "Amazingly poor decisions made with good intentions"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Department Manager in Dallas, TX
    Former Employee - Operations Department Manager in Dallas, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Penson Worldwide (More than a year)

    Pros

    Employee oriented
    Good pay
    Some talented people
    Interesting work
    High degree of autonomy

    Cons

    Poor business decision making
    They have no money
    Good old boy network
    Too many people who do nothing

    Advice to Management

    Think


  3. "It's okay..."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - General IT in Dallas, TX
    Current Employee - General IT in Dallas, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Penson has an interesting mix of people. There's never a dull moment because priorities constantly shift. For the most part, people work in teams and it's not cutthroat.

    Management is well-intentioned, and I think they do want what's best for employees.

    Cons

    Overall, working in IT can be frustrating because bureaucracy inhibits accomplishment.

    Upper management has made some tactical errors which have limited the companies profitability. Unfortunately, this has negatively impacted employees.


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  5. "Penson is a great place to work when the economy is good and interest rates are high."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Dallas, TX
    Former Employee - Anonymous Employee in Dallas, TX
    Recommends
    No opinion of CEO

    Pros

    Penson has very kind people and the managers, vps, and senior managers foster a positive environment at the company.

    Cons

    The low interest rate environment has made Penson a very stressful place to work. In addition, the Ridge deal has consumed lots of resources in a time that is already very challenging for the industry.


  6. "Great coworkers"

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

    Pros

    I really enjoyed working with the others in my department. The industry was interesting and the constantly changing technology kept things challenging and engaging.

    Cons

    The top executives did not provide very much direction. The staff could have been better utilized. When there was an imitative introduced, there was little focus or follow up.


  7. "Lots of ups and downs but it was an interesting ride. We started out as a small regional clearing firm that built a lot"

    Star Star Star Star Star
    • 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 Penson Worldwide full-time (More than 10 years)

    Pros

    Great place to work in the beginning. Lots of opportunity to move within the company and work with technology and business development.

    Cons

    Once the company went public they lost focus on the core business. Additionally, the negative impact due to poor decisions regarding a race track crushed the stock.

    Advice to Management

    Should not have allowed a board of director to margin a racetrack.


  8. "Well intentioned, but communication and lack of strategy are sorely missing"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    No opinion of CEO

    Pros

    The people, including management. Penson does a good job of hiring people that share the core values of the firm.

    Cons

    Lack of clear corporate goals, or a strategy to achieve them. This can, and has, led to much confusion about company priorities, and what you should be working on at any given time.

    Advice to Management

    Pick a couple of clear, defined 1/3/5 year goals, create a plan for how to get there (hopefully after soliciting feedback from employees), and COMMUNICATE, COMMUNICATE, COMMUNICATE it. Measure and report on progress often. Employees need to feel a sense of progress and accomplishment, and that is not happening today.


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