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Commonwealth Financial Network

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Get Out While You Can - Information Technology Commonwealth Financial Network Employee Review

1.0
Apr 8, 2024
Recommend
CEO approval
Business outlook

Pros

Free Snacks(though they've steadily declined in quality) Wonderful benefits that only kick in after 3 years *full time* employment(sorry contractors, your conversion doesn't count!) Pay is good in tech, not so much elsewhere.

Cons

The issues with Commonwealth are all over the place. CEO forcing return to office despite managers, directors, and VPs agreeing "our teams work best when remote". Your coworkers are either remote or in another state, so you'll end up on video calls anyways, struggling to hear yourself above everyone else calls around you. Execs are constantly talking about 'building culture' , but there's nothing to show for it. Employees have no time to attend anything during work hours and no energy to attend anything afterwards. Stock options are no longer given to all employees meeting their work expectations, just the top 3 per department, despite management advocating against this policy. The annual bonus has gone from 15-20% to ~5%. They tried to disguise this by splitting what we used to get into 2 additional bonuses throughout the year tied to customer satisfaction levels, ignoring that those levels will never be hit due to chronic understaffing and overpromising to clients. Some departments used to have multi-month training plans that are getting cut down to weeks, and clients can tell. With all of this, Commonwealth has continued to drain itself of talent as people see the writing on the wall. Their most recent Employee Survey had no room to provide criticism/improvement, a stark change from prior years' surveys.

Explore other reviews about Commonwealth Financial Network

5.0
May 14, 2026
Recommend
CEO approval
Business outlook

Pros

Honestly CFN has been the best job of my life. Despite the acquisition of LPL I still think my direct manager is very supportive and there for our team. The work life balance (for now) is still great. My WFH days to help a lot. Even though some people feel bearish of the future of CFN I remain a bit hopeful. I truly hope LPL does allow us to remain a separate subsidiary permanently as our culture is quite unique. So far the M&A has not been too bad on us and in my opinion things are leaning toward the positive.

Cons

LPL acquisition should have never happened . Certain tenured folks have favoritism which is inappropriate

2.0
Jun 3, 2026
Recommend
CEO approval
Business outlook

Pros

We get free bagels on Mondays

Cons

LPL purchase has changed everything that made the company great. Used to be a tight nit company with great perks and benefits. Upper management sold out and all of that was lost. Most of the employees feel betrayed, and so do the advisors. Within 2 years CFN will be entirely absorbed and the company we once knew will no longer exist

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