Skylight Financial Group Reviews | Glassdoor

Skylight Financial Group Reviews

Updated July 21, 2017
15 reviews

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3.6
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Paul Fox
10 Ratings

15 Employee Reviews

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  1. "My career choice"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Planner in Cleveland, OH
    Current Employee - Financial Planner in Cleveland, OH

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

    Pros

    You set your own schedule and conduct business how you want. Your client base is built on those who you want to do business with.

    Cons

    You work mostly on commissions only. If you do not put in very hard work your first few years you will not get anywhere. Additionally If you are a hard worker, but are not willing to prospect/call/ meet new people you will also most likely fail.

    Advice to Management

    Need better communication on first year development.


  2. Helpful (3)

    "College Grads stay away"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Agent, Planner in Dublin, OH
    Current Employee - Agent, Planner in Dublin, OH
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Mass mutual affiliate on your resume.

    Cons

    They hire recent college grads to get their personal contacts. You'll be calling your friends and family trying to sell them insurance!

    Advice to Management

    Don't lie in the interview process.

  3. Helpful (2)

    "Hi welcome to the Skylight team, good luck on your own"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Planner in Cleveland, OH
    Former Employee - Financial Planner in Cleveland, OH
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Skylight Financial Group full-time (Less than a year)

    Pros

    Flexible hours, great office space and location

    Cons

    There was basically no support from higher management for a recent college graduate. During the interview process they will talk about all the awesome reasons to work there and rope you in, then expect you to build a business on your own from the ground up with your own market. It is basically a weed out job where a few new hires that do okay might stick around after a year.

    Advice to Management

    Give more support to the new employees!!! Allow them to sit in on client meetings or shadow a senior advisor for a day so they know what the hell is going on.


  4. "Financial Planner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Planner in Columbus, OH
    Current Employee - Financial Planner in Columbus, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Skylight Financial Group full-time

    Pros

    The Pros are nobody actually does work so the office is a really fun place to be. Typically we get in at 10am and start drinking from Lunch until we leave.

    Cons

    This office is nothing but a glorified life insurance factory. You receive zero help with any investments and their investment specialist is in bed with Brinker so that's who he recommends even though they lose money.

    Advice to Management

    Managment is a joke! Their managers make less than most producers because they can't produce on their own yet they are supposed to be doing the training and recruiting.


  5. Helpful (3)

    "I thought Churning was illegal in Financial Services"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Planner in Columbus, OH
    Former Employee - Financial Planner in Columbus, OH
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Skylight Financial Group full-time

    Pros

    Great training, great office space

    Cons

    There are two positions at SFG: producer or manager. If you don't want to be in management, prepare to spend 30 years chasing people around for their money in production. Even though the training is great, there is very little accountability by management to practice the skills, probably because most of the management has risen up the ranks by being handed most of their clients anyway and was never held accountable themselves. Favoritism runs rampant inside the firm, and the bigger producer you are the more management seems to turn a blind eye to any problems the large producer may cause. At the beginning, they force you to run your cases with senior advisors and give up 30% of your commission to the SA. If you are one of the unfortunate ones that doesn't find a senior advisor that can pass clients off to you (because they don't have time for their lower net worth clients, they will pass the people they can't make much money from off to new associates), it will be a bumpy ride for any recent college graduates. Oh, and the only way to find a senior advisor to help is to have something to offer (multiple high net worth clients, connections in large companies, etc.) the him that will motivate him to help you. The bigger producers command all the support from the staff and newbies are quickly forgotten or completely ignored. SFG requires monthly travel to training without reimbursement. Extremely high fees to operate your business in, especially for someone new to the business. They seem to nickel and dime you every where you turn including charging for long distance phone calls and color copies. They will rope you in during the recruiting process with the allure of being a financial advisor and turn you into a glorified life insurance salesperson. The initial "salary" of near $40,000 in the first year ends up being closer to $20,000 (not including taxes) and then all the office fees, travel and training fees quickly turn the $20k into $10k. The huge discrepancy is a result of the deceptive way management paints the compensation package during the interview process. Basically, if Skylight pays you something they will find any way possible to claw it back. Management will also try to lure you with the hopes of upward mobility and the chance for bigger office space, however they are merely trying to fill offices so the place doesn't look empty and charge you increased rent.

    Advice to Management

    Stop promoting unqualified individuals into management. Stop squeezing every cent you can out of your advisors in order to avoid paying any overhead.


  6. Helpful (3)

    "Everyone gets used for their personal network then drops out""

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

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

    Pros

    Competitive insurance offerings and whole life products. Decent office locations in Columbus and Cleveland. MassMutual home office is a great company, this office is far from it. At least you will depart with a MassMutual affiliate on your resume.

    Cons

    100% commission, apathetic management, high turnover, no company leads, fees (yes you have to pay fees to work there), never get paid on time, no training for paperwork, commission structure primarily benefits management. You have to pay all the FINRA fees yourself. Tiny offices where 4-5 people squeezed in a room.

    Advice to Management

    Stop obviously using your employees for their personal network. Invest in your employees by giving them leads. Stop acting like this job isn't anything more than a sales job. Management acts like its a big cool financial firm when really this level is nothing more than sales (asset gathering as they call it). Management needs to stop focusing on just getting more sales and really investing in the core asset of the business: its people.


  7. Helpful (2)

    "Beware new to the business candidates"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Planner in Cleveland, OH
    Former Employee - Financial Planner in Cleveland, OH
    Doesn't Recommend

    Pros

    Skylight is set up for experienced financial planners who want to take their business to the next level. You will see your business excel.

    Cons

    Skylight is not for new to the business people. It is a revolving door for new people and they are dishonest about potential success. I saw many people give up good jobs for the chance at the carrot they dangle in front of them only to be gone within a month. The few people who have made it make only $18,000-$20,000 their first year. Few meaning 2 out of 50. There systems are set up for failure for new people. Don't be fooled by the image they present. Do your homework.

    Advice to Management

    Don't be dishonest about the realistic potential for new people. You are affecting peoples lives and families when they leave a secure job for a job that you mislead to them. Have the "Best Places To Work" speak to all the people who have been victims of your dishonest words.

  8. "Good place to be"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Approves of CEO

    Pros

    Endless Opportunity, good people in place

    Cons

    If you aren't self motivated this isn't for you.


  9. "Financial Planner"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great office and training programs

    Cons

    You're essentially running your own business and the costs reflect that.


  10. "Overall Great Experience"

    StarStarStarStarStar
    Current Employee - Financial Planner
    Current Employee - Financial Planner
    Positive Outlook
    Approves of CEO

    I have been working at Skylight Financial Group full-time

    Pros

    They provide proper training and structure while also giving you control of your success. Every day of work is different from the previous day.

    Cons

    Every day is a challenge early on but that is part of what makes the job enjoyable. Building your client base is a process but it is well worth the hard work.


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