Foresters Financial Reviews | Glassdoor.ca

Foresters Financial Reviews

Updated 13 July, 2018
398 reviews

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3.1
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Jim Boyle
9 Ratings

398 Employee Reviews

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Pros
  • "Great staff easy to work with great training program" (in 29 reviews)

  • "You learn a lot of information about being a financial advisor and what kind of person would succeed as one" (in 14 reviews)

Cons
  • "Work/Life balance could be affected if you have get a good start from the beginning" (in 24 reviews)

  • "Expect to work 10 hour days and to call friends and family with a sales pitch" (in 22 reviews)

More Pros and Cons

  1. "Awesome"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Claim Adjudicator in Toronto, ON
    Current Employee - Claim Adjudicator in Toronto, ON
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Foresters Financial full-time (More than 8 years)

    Pros

    Amazing culture, flexibility, relaxed environment, growth.

    Cons

    dated systems, dated procedures, no team building.

    Advice to Management

    Update systems


  2. "product analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Product Analyst in Toronto, ON
    Former Employee - Product Analyst in Toronto, ON
    Recommends
    Neutral Outlook

    I worked at Foresters Financial full-time (More than 10 years)

    Pros

    Overall experiance was pleasent. The company had helped me raise my family for over 27 years.

    Employee benefit plan was great. One could choose between individual or family coverage and pick from one of four levels of co-insurance levels. It was quite flexible. Coverage included medical, drug, dental, vision, life, accident, travel and employee family assistance (stress) plans.

    Most departments allowed flexible hours within certain boundaries. Some areas also allowed work from home arrangements.

    When I first started, there were subsidized cafeteria where employees paid only a dollar or two for a full meal each day. Those were the good old days. I spent the next twenty years trying to shed those extra weight as a result without much success. Sigh!

    I had defined benefit pension with a small portion of defined contribution segment. Not sure if new employees still get defind benefit pension.

    Cons

    The last few years have experienced company-wide termination of over 15 positions per year. It's a little hard to handle.

    Work load had been constantly increasing as a result for those who stayed behind. Unpaid overtime work became the norm.

    Advice to Management

    There is a need to modernized administrative systems by upgrading existing systems to their newest version. Customers should be able to pay premiums in any mode, such as credit cards, interac, e-transfer, eft etc. and not limited to cheque and PAC only.

  3. "Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Specialist in Toronto, ON
    Current Employee - Specialist in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Foresters Financial full-time (More than 10 years)

    Pros

    Ability to gain industry knowledge

    Cons

    High management turnover and limited opportunities for advancement due to continuous personnel changes


  4. Helpful (4)

    "Biggest mistake of my career"

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

    I have been working at Foresters Financial full-time

    Pros

    You will learn a ton...about how deeply dysfunctional an organization can be - like a case study in how a poorly governed enterprise can completely atrophy over the years

    Cons

    Where to begin? How about:
    -Incompetence starts at the top with the Board and cascades down, meaning that out of the gate, the odds are against new management team solving the myriad of Foresters' intractable issues
    -Several weak/inept members of executive team
    -Varying levels of talent across the organization - it's tough to attract good talent when a company is this dysfunctional
    -Lack of integrity at times, with many business practices at odds with Foresters' mission & purpose
    -Obsolete business model and infrastructure, made worse by years (decades?) of underinvestment
    -Overpriced and underperforming products & services
    -Terrible, out of date employee benefits, particularly for US employees
    -Huge gap between what they say their HR + compensation policies are and their actual practices (good luck getting a written review and/or understanding the rationale behind comp decisions)
    -Huge gap between the values and culture and purpose espoused by management what actually happens
    -Limited vision in every sense: No alignment around what the issues and priorities are, unclear articulation of goals and inadequate visibility into progress

    Advice to Management

    You owe it to your members and employees to get your act together - seriously!


  5. Helpful (1)

    "Membership"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Membership in Toronto, ON
    Current Employee - Membership in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    - Decent salary and compensation package

    Cons

    - Lack of career growth opportunities
    - Lack of professional development learning opportunities
    - Lack of clear strategic vision and direction for the company
    - Lack of management training
    - Heavy top-down management structure


  6. "Marketing Manager"

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

    I have been working at Foresters Financial full-time

    Pros

    Organization supports it members and local communities

    Cons

    Political, Not Forward Thinking,


  7. "Investment Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Midtown Toronto, ON
    Former Employee - Anonymous Employee in Midtown Toronto, ON
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Learn lots of things at small department from medium size company

    Cons

    Executive Management is shuffling. You don't know you will be affected eventually.
    Accessibility problem due to insufficient public transportation.

  8. Helpful (2)

    "Worst company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Toronto, ON
    Former Employee - Customer Service Representative in Toronto, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Benefits start from day 1,good compensation

    Cons

    They treat their employees very badly,couldn't last a year there

    Advice to Management

    Fire all managers and hire competent ones


  9. Helpful (2)

    "Administration/Customer service"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Toronto, ON
    Former Employee - Anonymous Employee in Toronto, ON
    Doesn't Recommend
    Negative Outlook

    I worked at Foresters Financial full-time (More than 3 years)

    Pros

    Great pay and good benefits

    Cons

    No advancement opportunity if there is no team lead to back you up.

    Advice to Management

    Make sure opportunity is given equally to everyone and not people that are acquaintance to immediate leaders.


  10. Helpful (2)

    "A company caught between ideas"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Toronto, ON
    Former Employee - Anonymous Employee in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Decent pay for the work
    (Some) flexibility in work profile, depending on manager
    Overall culture is trying, incrementally, to move into the future

    Cons

    Top-heavy management structure, throughout the whole organization - far too many VPs/AVPs/Managers/Directors for the size of departments
    Very little communication between major teams
    Very little understanding of company goals and purpose across staff

    Advice to Management

    Take a step back and evaluate exactly what kind of company you want to be
    When employees point out areas of need, address them now, not in 10 years


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