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Strong Culture and Collaboration - Anonymous employee Avantax Employee Review

4.0
26 Feb 2024
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

I think many people who have gone through an interview process or two have heard that a company's culture is great only to be duped once they join. That is not the case at Avantax. The company culture truly is stellar. One of my favorite parts about our culture is the Diversity, Equity and Inclusion Council. They do a fantastic job at creating a community of belonging, highlighting important celebrations, and educating employees without perpetuating divisiveness. The people here are unlike any other colleagues I've had anywhere else. Everyone is kind, supportive, and positive. There is a lot of care that goes into making sure employees feel valued across the board. Despite the uncertainty with our recent acquisition, leadership has been very transparent and it's obvious they are working behind the scenes to get us as much information as they can, as it becomes available.

Cons

Each time around year-end reviews are when another big change occurs, putting a pause on opportunities for career progression. The recent restructuring has caused uncertainty about future roles and responsibilities. We are currently setting goals for the year and it feels like an impossible task considering there's no clear direction.

Explore other reviews about Avantax

5.0
19 Sept 2024
Recommend
CEO approval
Business outlook

Pros

Great people and culture. Everyone is open to lots of conversations.

Cons

Slow to growth when it comes to promotion

2.0
25 Jan 2025
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

The people are great. Direct managers are good people.

Cons

Cetera took Avantax over in 2024. The insurance got worse while the premiums were the same or more expensive. They cut the guaranteed 4% 401k match to a 2% match, with a discretionary 3% extra at the end of the year IF deemed the company did well/could afford it. Seems low for a wealth management firm, and I don't love the uncertainty of not getting the additional 3% due to things outside my control. We probably won't be getting bonuses for the 2025 year, but no word yet on that. So my overall compensation has gone down.. meanwhile, Cetera has dictated a return to office mandate for twice per week. I live quite far from the office (1+ hour each way, many days 1hr 20m to 1hr 40m.) So that's 4-6 uncompensated hours now being taken away from my family, plus tolls, plus gas. When I requested to work fully remote, I was told they were not permitting it even due to distance. Then I asked to have a conversation regarding my annual compensation (I make less than $50k a year, which makes this drive even more of a burden on my household,) I was told there would be no adjustments. Cetera did not do a bunch of lay-offs when they acquired Avantax, so I'm getting the feeling they are hoping for people to quit with their new mandates, rather than being understanding that many people were hired on when the drive was twice per quarter. So, unfortunately, I am having to look for something closer to home and will have to start all over at a new company. Very disappointing.

3
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