Vanguard Brokerage Associate Reviews | Glassdoor

Vanguard Brokerage Associate Reviews

Updated August 22, 2017
54 reviews

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Brokerage Associate

2.6
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Vanguard Chairman and CEO William McNabb
William McNabb
37 Ratings

Employee Reviews

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Pros
  • Work life balance, excellent benefits (in 309 reviews)

  • Vanguard is a great company to work for and they offer great benefits (in 202 reviews)

Cons
  • Also there is a high turnover rate because it is more of a call center position once you get through training (in 131 reviews)

  • Pay is lower then the average but it is a trade off for the work life/balance (in 47 reviews)

More Pros and Cons

  1. Helpful (3)

    "Advanced Brokerage Associate"

    StarStarStarStarStar
    Current Employee - Advanced Brokerage Associate in Charlotte, NC
    Current Employee - Advanced Brokerage Associate in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Vanguard full-time (Less than a year)

    Pros

    Great benefits, great people, decent work-life balance

    Cons

    no autonomy, micromanaged, career advancement is not always based on past performance

    Advice to Management

    Give the employees more responsibility and more of an ability to act on their own accord


  2. Helpful (8)

    "Valuing Clients Way Beyond Valuing Employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Brokerage Associate in Charlotte, NC
    Current Employee - Brokerage Associate in Charlotte, NC
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great environment if your looking for a steady paycheck, routine work, personable co-workers and balanced work-life schedule.

    Cons

    Pay is embarrassingly low compared to competitors. There is a constant feel of "stretching the dollar" which results in overarching cheap feel to employees.

    Advice to Management

    "If you take care of your employees they will take care of your customers and your business will take care of itself"

    -JW Marriott

  3. "Good place to start out"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Brokerage Associate in Malvern, PA
    Former Employee - Brokerage Associate in Malvern, PA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Generous PTO, top notch training for exams, large campus with many amenities.

    Cons

    Very rigid career structure, low pay, felt like a cog in a machine.

    Advice to Management

    Improve salaries for younger employees, focus more on professional development early on in career with employees.


  4. Helpful (4)

    "Great learning experience."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Brokerage Associate in Scottsdale, AZ
    Former Employee - Brokerage Associate in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits, really good retirement contribution matches, awesome PTO. Flexible hours. Great training - You learn a lot about investing and can carry that knowledge with you in any future endeavors.

    Cons

    Mid level Leadership. The way your leader has to fight on your behalf to get a raise at the end of the year. So if you are unlucky enough and do not have a good leader, it doesn't matter how much you contribute. You will be left wondering what happened when you get a bad year end.

    When stuck on the phones, it is very difficult to go do 'career advancing' items when you are tied to a phone by the Conn. go to operations where you are not as micro managed and have more liberties to explore careers outside your immediate group.

    Advice to Management

    Better leadership training. Leaders that have intimate knowledge of the jobs they are overseeing so they know what they are talking about when having discussions.


  5. "Amazing if you have the right job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Brokerage Associate in Charlotte, NC
    Former Employee - Brokerage Associate in Charlotte, NC
    Recommends
    Positive Outlook

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

    Pros

    Great company culture. Lots of ethical people who seem to want to do what's right for their clients. Management really works with employees and gives them time to grow and develop. After working there for a little bit of time you learn a number of good skills and knowledge that can be used to leverage better positions at other companies in the future.

    Cons

    If working for a client facing role then it can get monotonous VERY quickly. During busy season (October-April or longer) the calls are non-stop and it can be very overwhelming at time.


  6. Helpful (29)

    "Brokerage Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Brokerage Associate in Charlotte, NC
    Current Employee - Brokerage Associate in Charlotte, NC
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Vanguard full-time (More than 5 years)

    Pros

    Great 401(k). Will pay for financial licenses. Time off is pretty adequate also. However, being on the phones you will need all those days off to keep your sanity. The managers I have had have been pretty good. Overall good people.

    Cons

    No room for advancement outside of Malvern. Company culture is changing rapidly. Tenured employees are forced out. Stuck on the phones all day with no opportunity to contribute to other initiatives of the department or company. Cost cutting is getting ridiculous and at the expense of employees.

    Advice to Management

    Be mindful of costs but be careful with pushing it too far.


  7. Helpful (30)

    "Horrible place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Brokerage Associate in Charlotte, NC
    Current Employee - Brokerage Associate in Charlotte, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Benefits package is great such as healthcare, dental, vision. They have a really great 401k match. They will pay for licensing.

    Cons

    The management is terrible! Most managers don't even know how a brokerage account works. The clients are always angry because there is consistently mass turnover and the new hires are poorly trained (probably because the trainers haven't touched a phone or gone through the works of a normal trade/client issue in over 15 years and the technology/rules have changed drastically). Every corporate environment has politics but Vanguards leads to terrible decision making that makes it a terrible work environment and terrible client experience. I would not wish a Vanguard job on my worst enemy, and I will not let my family invest there because of the poorly trained phone associates hitting the floor as a result of the mass turnover due to the way they treat their employees.

    Advice to Management

    Hire knowledgable/qualified people. You're best friend is great, but when they're not qualified and you give them promotions it makes everyone's life harder and puts our clients experiences and investments at risk.

  8. Helpful (27)

    "Save your soul."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Brokerage Associate in Charlotte, NC
    Current Employee - Brokerage Associate in Charlotte, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Vanguard full-time (More than 5 years)

    Pros

    10% 401k payment vested over 6 years if you can survive. They offer benefits including on site doctors office. Coworkers are amazing if they stay long enough to get to know them.

    Cons

    Where to start. A lot of the reviews on here sum up the cons pretty well. The leadership at Vanguard is sub-par. The pay is low if not close to a joke. Benefits are average. They can also never seem to be fully staffed.

    Advice to Management

    Read these posts and start making some changes!


  9. Helpful (48)

    "Brokerage Associate"

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

    Pros

    Vanguard provides great training and a solid foundation for those newer to financial services. It made moving to a new city an easy transition with large new hire classes of similar people in similar situations which allowed me to create great friendships

    Cons

    Vanguard has truly lost its way as an employer, and I believe it is still a great place for those to have self directed accounts. The amount of people who have left Vanguard to go to industry competitors just this last year is mind blowing. People have fled Vanguard to go places like Blackrock, Fidelity, American Funds, Wealthfront, UBS, Goldman Sachs, JP Morgan. So Vangaurd obviously has had talented crew members within their ranks. Vanguard refuses to promote and further develop those who are capable of being high achievers in financial services. Competitors to Vanguard are just poaching people to bring them to greener pastures. Within my role at Vanguard I felt more knowledgeable than more than half of the managers, many of who never actually had any relevant experience in the roles they oversaw. I always found it comical how little respect the phone associates have for the senior managers. For example one was referred to as a leprechaun and another was referred to as snaggle tooth, I wanted to work for a place where the managers could help build me into a great investment professional not ones who had little knowledge about financial services or cared little about my actual development. The drive to lower cost is hurting the service provided to customers since Vanguard is unable to pay for talent they are having to settle for cheaper and less qualified phone reps and contractors who know little of how the real industry works or how to use the systems. The crew is stretched by trying to tackle so many job functions and you are having clients forced to wait 20 min just to place an equity trade because all the traders are forced by management to do other tasks is ridiculous and not putting the client first.There are a lot of system issues at Vanguard and my computer constantly froze up or shut down in the middle of client transactions. My last year working at Vanguard I felt lost, unmotivated, and unchallenged in my job. I felt for my own sanity it was best for me to run faraway from the dreadul walls of vanguard. Those who want a work life balance with low pay and lots of vacation days they cannot take due to understaffed departments may find Vanguard appealing, but for those who want to actually feel prideful in your work and make a great living working for a financial services I highly suggest you either jump ship and take your skills and go to another shop. The grass is greener on the other side trust me. I have no doubts leaving Vangaurd was the best decision I will have made in my career.

    Advice to Management

    Make Vanguard as good a place to work as it is to invest. Vanguard must pay employees a competitive wage, appreciate who they are and their contributions, and finally have senior managers who are competent and not mocked by everyone


  10. Helpful (24)

    "Brokerage Associate"

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

    I have been working at Vanguard full-time (More than 5 years)

    Pros

    Good PTO that is all

    Cons

    Terrible company culture, promoting only the young and pushing out the old (which is 40+), unrealistic and unachievable goals set by robot like managers who have no empathy for crew, no cost of living raises, no flexibility, no hope for most and it shows in the quality of work, the customer service and the general lack of caring.

    Advice to Management

    Upper management STOP only looking at the client. You are killing your crew with stress (high suicide and LOA rate) with your unattainable goals and expectations. No one is happy here and everyone I know is actively looking to jump ship. Stop treating us like a number in a matrix and treat us like human beings.