Strategic Financial Solutions Reviews | Glassdoor

Strategic Financial Solutions Reviews

Updated January 6, 2018
136 reviews

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3.8
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Ryan Sasson
107 Ratings

136 Employee Reviews

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Pros
Cons
  • Long hours but if you can handle that, the possibilities are endless (in 15 reviews)

  • difficult to have good work/life balance (in 7 reviews)

More Pros and Cons

  1. Featured Review

    "Solid Sales Training"

    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 Strategic Financial Solutions full-time

    Pros

    CULTURE. I came to the city with a lose idea of what I wanted to do but knew I wanted to be in sales, I started working in sales a year ago and have loved it. It's definitely hard work but so is all sales. I get to help clients too who have financial difficulties which gives me a sense of purpose behind the selling aspect. I feel super respected too as a woman and its great because we have an even split of female managers and male managers. I also ended up meeting most of my good friends here too which is a major plus. Its work hard play hard mentalities that last here, you have to have a desire to succeed and be competitive.

    Cons

    Time management is a must here. To accommodate the west coast and east coast, the hours are broad, which can be tough when planning your day but you also get to take breaks whenever you want. I regularly take 2-3 hour breaks to go to the doctor, dentist, gym, long lunches...

    Advice to Management

    Promote more supervisors who have a vested interest in being in management one day! I think reps in training would love to have set mentors. Other than that- this place is great.


  2. "Negotiation Team Lead"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Negotiation Team Lead in New York, NY
    Current Employee - Negotiation Team Lead in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Career Growth: I started here about 9 months ago and loved it but wanted more. I applied for a team lead position and after several interviews I got the promotion. As a woman, I love how in a financial services firm they provided the opportunity to excel and do more for my career.

    Cons

    It is a hustle in terms of growth. You have to work hard and perform. If you try though- there is nothing you can't accomplish.

    Advice to Management

    Continue to create a clear growth plan for reps who want to excel! Its an amazing program.

  3. Helpful (3)

    "The ONE Sales Consultant review I wish I saw, before applying..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Consultant in New York, NY
    Former Employee - Sales Consultant in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Income Potential
    Great People
    Flexible Lunch Breaks
    Some clients lives are better because of this debt settlement program. Some people need to be saved.

    Cons

    1) Bait and switch structure- As many have read. Strategic operates under a bait and switch model in which clients apply for a loan based on a check they receive in the mail with amazing payment options... You speak with client to "qualify them" for the loan. The irony is, over time you learn something about the clients you are trying to qualify. 95% of clients get declined for it. As a result, the "sales executive" warrants the chance to pitch the REAL PRODUCT...a debt settlement program. Companies like Freedom Debt Relief are transparent about the program they offer but this company back doors it to get a bigger diversity of clients. The ones who should never do something like this.
         For those who don't know what a bait and switch is... The advertisement of a product or service with the intention of switching for something different. Usually of inferior or less of quality. The company sends out checks to clients with low payment options of getting out of debt. Clients call to where the "Sales Executive" is qualifying them for a loan (Bait). The irony is over 95% of clients are declined. (Switch)Now the real job is for the "Sales Executive" to sell a debt relief program. This position is ONLY compensated on commission of these sold debt relief programs. Sure, some people need this type of relief and need to be saved from themselves using more credit cards but there are honest ways to help, aside from knowingly misleading over 95% of individuals who inquire. If you want further proof, during your interview, ask how the leads are acquired.
    2. Client Experience- Clients are consistently calling throughout the office after enrolling with questions on why their credit is getting crushed and why they are getting harassed with calls from creditors because of missed payments. It goes as far as clients bank accounts getting levied. I personally had a clients who's bank accounts were frozen and didn't have money to buy groceries. We were NEVER. EVER told in training about levies or holds. Many clients do not know what they are being signed up for because of how the product is sold. Many clients cancel once they figure it out but the damage is done. Even if they don't cancel and call to complain... once they make 3 payments, the company made money, rep is paid and you stop answering calls. Their credit is ruined and their credit cards are closed and it's difficult for them to move forward. I can't believe I've used what I was taught to enroll most clients. I was employed and had no choice if I wanted to put food on the table. Imagine if someone close to me enrolled. I was ashamed.
    3. Ambiguity- Clients called the office everyday. The reason these types of calls are received everyday is because clients aren't 100% sure of what they sign up for. Yes, we are told not to lie. However we are also trained to not be 100% honest and forthright. The word "should" is the most popular in the office when telling clients what there financial outlook will be during the program to protect the company and sales reps. Sure, you can tell the clients exactly what happens and if you do...you will see all the Sales Reps at the top do better than you. You will most likely have an empty conscious... and empty wallet. Before you apply, ask yourself if your willing to do what's necessary to climb to the top. Sure they have a compliance department to ensure everyone is "in compliance" but remember who they're employer is. This is where the "should" "could" and "might"words protect the company. If you don't believe me, look at google or trust pilot reviews of the company. Want further proof. Ask to speak to a Sales Consultant during your interview.
    4) Marketing company cover up- You may see that the company is A rated but the marketing companies they use are different than the debt settlement company. All the clients know are the names of the marketing companies they inquire with and trash those companies reviews. However the company is always switching marketing company names so the negative reviews don't get out of control. Sneaky but effective.
    5) Overall- Again some people need this type of program. No doubt about it. However the approach and how consultants are trained to offer this program is misleading and unethical. Everyone isn't a victim but if the company had a straight forward approach it wouldn't be growing at the rate it is. If your willing to do whatever it takes to make money... this may be for you. BE WARNED: Do your research before you do. I wish I had.

    Advice to Management

    I don't want to write a negative review but if I saw this before I accepted the offer I would have been in a better place. I write this to protect the people looking for honest work like I was. It's challenging to give advice about all the unethical and misleading parts of the company because they are at the core of its success. Eventually like all fast growing companies... the bigger they become, the bigger the microscope is that ensures their integrity. Yes, during the interview process you don't lie to applicants but isn't leaving out the truth just as bad?


  4. Helpful (6)

    "Toxic Work Environment and Dishonest Company"

    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
    No opinion of CEO

    I worked at Strategic Financial Solutions full-time (Less than a year)

    Pros

    There are some nice people I formed lasting friendships with here. The company has happy hours and holiday parties, along with other trips and prizes as work incentives.

    Cons

    Toxic work environment. It's a bait and switch company, which is never really explicitly taught during training. The only way to succeed as a sales rep is to sugarcoat the program and be misleading or vague. Expect 11-12 hour days and Saturdays, especially if you're just starting out. I (and several other sales reps) have witnessed blatant favoritism (that will be denied time and again by management) and undeserved leads fed to reps on the low.

    Advice to Management

    Stop with the bait and switch structure of the company, advertise for debt settlement because that's what will be offered (9.5 times out of 10), so reps can sell clean and with a clear conscience. Realize that 90% of the top reps are misleading people or being intentionally ambiguous in order to bring home a bigger check, because it's literally the only way to succeed. We're talking about people's futures here. They should know what they're getting into and reps should be able to be successful and transparent simultaneously.


  5. "Great Growing Company"

    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 Strategic Financial Solutions full-time

    Pros

    The opportunities here are limitless. The company is growing dramatically and helping people every day. I am excited every day coming to work.

    Cons

    The elevators are slow and the A/C is not great.

    Advice to Management

    Keep your amazing culture as you continue to grow.


  6. Helpful (2)

    "Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Consultant in New York, NY
    Current Employee - Sales Consultant in New York, NY
    Recommends
    Negative Outlook
    No opinion of CEO

    I have been working at Strategic Financial Solutions full-time (Less than a year)

    Pros

    great earning potential, fairly easy sale

    Cons

    environment, everyone stealing each others leads, must call and annoy leads every 4 hours or someone else will take it, NO WORK LIFE BALANCE

    Strategic Financial Solutions Response

    Dec 12, 2017 – CEO

    It's unfortunate that you are unhappy with your position. We try to be very transparent that the trade for great earning potential is work life balance and an atmosphere that is competitive. I... More


  7. Helpful (1)

    "Sales Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Consultant in New York, NY
    Former Employee - Sales Consultant in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Strategic Financial Solutions full-time (Less than a year)

    Pros

    Great pay, great location, fun environment, and perks

    Cons

    Schedule. We're scheduled to be there 10 hours per day (10am -8pm, and up to 9pm is encouraged for new ppl or anyone who wants extra leads. However, we're still held to 40 hours a week. Managing time can be difficult, finding things to do for 2-3 hours during the middle of day can be difficult and makes the day drag. Then launchpad mgrs schedule team mtgs during that time when we should be away from our desks. . on "lunch".
    Some things we're told to tell clients as part of the sale are not true.

  8. Helpful (2)

    "No Focus on the Back-Office Departments"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Strategic Financial Solutions full-time (Less than a year)

    Pros

    Great coworkers, some incentives, new manager for the operations departments is a breath of fresh air.

    Cons

    No real benefits, not enough PTO for employees to de-stress and recharge. As the company is growing, the Sales and Negotiations teams are expanding, yet departments such as Retention, Payments, and Settlements are forgotten about. It is impossible to keep customers happy if you do not have enough employees to respond to their demands. Very low salaries for workers outside of Negotiations and Sales, which leads to many people looking for jobs elsewhere after just a few month. No real opportunity for growth in the aforementioned departments.

    Advice to Management

    Pay more attention to the back-office teams who keep this whole place running and who go through MONTHS of training. Give people more reasons to stay, the lack of health benefits and PTO and low salaries really take a toll on your employees.


  9. Helpful (3)

    "Dishonest and toxic environment"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Strategic Financial Solutions (Less than a year)

    Pros

    Most new hires are very friendly, and some supervisors are friendly. Company tries to throw parties for upcoming events.

    Cons

    They paint you a false imagine of what the company does, and tells you you are really helping people. Not only do they lie to the clients to sign up, but the employees too. THIS LOCATION IS A CALL CENTER. You make endless phone calls that drain you out, and clients inform you of how you have made people situation worse rather than helping them. They mainly get New college graduates who they can pay for less.

    Advice to Management

    Be honest to people when recruiting and hiring so they know what they’re getting into.


  10. "Settlements Lead"

    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 Strategic Financial Solutions full-time

    Pros

    Been here for three years and I must say Strategic is more then just my family. They have helped me grow in so many ways! The opportunities are unlimited here and I love how they promote within before hiring from the outside. We have whats called the "Strategic Dream" You can put a wish in for yourself or you can out a wish in for someone else. Because the people I work with are amazing people and we all become family......Someone put a wish in to send me on a vacation. They not only sent me, but they also sent my family! I was sent on a 5 day paid vacation to Atlantis in the Bahamas. We stayed at the Royal Towers and it was an amazing experience. its a great feeling waking up and going to a place that you love!

    Cons

    Not every company is perfect BUT I can say we're close to it!!!!

    Advice to Management

    Continue to be great!!


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