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4 people found this helpful  

Vice President-Financial Consultant

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Vice President, Financial Consultant  in  San Jose, CA (US)
Current Employee - Vice President, Financial Consultant in San Jose, CA (US)

I have been working at Charles Schwab full-time for more than 10 years

Pros

Ethical financial guidance;
Reasonable/affordable product pricing;
Transparency of fees;
Great brand name;
Work/life balance;
Supportive and collaborative work environment;
Diverse employee base;
Embracement of new technologies;
Good benefits;
Time to volunteer of 8 hours per year;

Cons

Few career advancement opportunities or options except growing own practice;
Employee base is diverse, but management is not;
Overly cumbersome paperwork and procedures, especially on advice products;
Frequent changes in executive level leadership result in inconsistent policies;
Opinions of top producers count, but not the others;
Favoritism hurts morale;
Quarterly resets burn out even the best calibers;
Termination after 2-4 quarters of bottom 20% sales: Financial Consultants are treated like disposables within the company while trying to convince clients they are experienced and trusted advisors and will be there for clients for a long time;

Advice to ManagementAdvice

If you would like clients to believe they are dealing with a trusted advisory service provider firm, you need to respect and empower your front-line Financial Consultants, especially those with 10+ years of experiences, and allow for bottom-up feedback and participation instead of only top-down dumping of compensation/advice/product policy changes, campaigns and quotas.

Neutral Outlook

Other Reviews for Charles Schwab

  1. 2 people found this helpful  

    Stock Broker

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Stock Broker  in  Englewood, CO (US)
    Former Employee - Stock Broker in Englewood, CO (US)

    I worked at Charles Schwab full-time for more than a year

    Pros

    Opportunity to learn a lot about trading, banking, retirement, and finance in general. You also get paid to earn you series 7 and 63. It teaches you how to talk confidently and professionally on the phone. It's a great job to get into the business.

    Cons

    You are a robot. You are told what to say and when. There is no freedom, no creativity, and no individuality. Even your toilet breaks are timed. Promotions are very competitive, and only given to those who fit the corporate mold. Lots of time spent on the phone with angry customers. There are always new people, so things are always messed up.

    Advice to ManagementAdvice

    Retain your employees for longer with better incentives. This will create efficiency by having a knowledgable staff that can serve the clients better.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    Great Company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Specialist  in  Phoenix, AZ (US)
    Current Employee - Operations Specialist in Phoenix, AZ (US)

    I have been working at Charles Schwab full-time for more than 5 years

    Pros

    Diverse culture, Higher then average pay, collaborative environment, employee focused with emphasis on growth development.

    Cons

    Long hours attributed to staffing issues.

    Recommends
    Positive Outlook
    Approves of CEO
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