IG Wealth Management Reviews | Glassdoor.ca

IG Wealth Management Reviews

Updated 4 December, 2018
592 reviews

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4.1
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Employee Reviews

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Pros
  • "The company provides fantastic training which is focused on financial planning" (in 58 reviews)

  • "Self employed, with work life balance and tremendous support in all areas of financial planning" (in 20 reviews)

Cons
  • "Initially the consultant role is commission based" (in 39 reviews)

  • "As a consultant, you are 100% commission based meaning that you grow as much as a you want, but there is no "floor" in terms of salary" (in 27 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (3)

    "Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at IG Wealth Management full-time

    Pros

    This is a very evolutionary company that is making the right changes at the right time. The amount of training, support and development for the Consultant role is second to absolutely no one in Canada.

    Cons

    If you are unable to be a self starter you will struggle in this commission role.


  2. "Consultant Job Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consultant in Regina, SK
    Current Employee - Consultant in Regina, SK
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at IG Wealth Management full-time (More than 3 years)

    Pros

    Overall, this is a great place that fosters an entrepreneurial spirit. IG has been great in their education promotion, as well as making sure that the consultant feels valued. They have a benefits package, I opted out of through great west life, they have Share Ownership Plan, and a Participating Investment plan. No micro managing, as long as you are committed to education and obtaining your CFP designation, you will remain in good standing.

    Cons

    The work environment tends to be male dominated, i think just because of the nature of the business. It has a bit of a sales feel too it, and sometimes there are people hired who have no business being in the field.

    Advice to Management

    Provide more practical business advice, rather than just a sales process.

  3. "Summer Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at IG Wealth Management (Less than a year)

    Pros

    great training and flexxible working hours

    Cons

    compensation is tight and it is hard.


  4. "Financial Planner"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at IG Wealth Management full-time

    Pros

    Flexible work environment, pick your own hours

    Cons

    Spend all your time doing admin work and not planning

    Advice to Management

    Modernize admin systems to current standards


  5. Helpful (1)

    "Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Anonymous Employee in Winnipeg, MB
    Former Employee - Anonymous Employee in Winnipeg, MB
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at IG Wealth Management full-time (More than a year)

    Pros

    Good training program, no commission ceiling, learn a lot about financial planning.

    Cons

    100% commission with no leads provided. Expect that you will bring in assets of friends and family, and then they can choose to keep you or not, but they still have the assets. If you want to build a book of business from scratch, there is no work life balance. Little marketing support. Lots of cost to consultant (for software, marketing, etc) that you are expected to absorb by using them as tax deductions.


  6. "Associate Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at IG Wealth Management full-time

    Pros

    Great company will good training and lots of support.

    Cons

    Large startup cost for new consultants.


  7. "Senior Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Consultant in Toronto, ON
    Current Employee - Senior Consultant in Toronto, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at IG Wealth Management full-time (More than 10 years)

    Pros

    The culture of financial planning, as opposed to product sales, allow advisors to build a superior advice based business, with compensation and resources in all areas, without referring to other depts. ie. ins done by one dept, lending another and just dealing with investment management - we can build it all and be properly compensated on it all.
    The changes over the last couple of years are necessary to stay relevant. Mutual fund sales people who just talk about funds are obsolete........those who don't see this complain as the old way accommodated them.
    Too many are unwilling to change and see that IG changes are necessary for the industry and coddling of advisors who simply sit and wait for clients to leave is not permitted at any firm.
    We not have immense variety of investment solutions, insurance options, lending support and resources available for complex planning.
    If you are willing to learn, continue to educate yourself and provide full spectrum financial planning, you will do extremely well. If you want to work part time and sell mutual funds, go elsewhere.

    Cons

    Change is slow. Digital capabilities are taking longer....but getting there. Need to move faster to get "old world" thinkers, out of the way.

    Advice to Management

    Don't pander to lowest common denominator. Provide higher level, complex training.

  8. "asministration"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    I have been working at IG Wealth Management full-time

    Pros

    good team, interesting project work

    Cons

    there is no global presence


  9. Helpful (3)

    "It all depends what you want in life..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consu
    Current Employee - Consu
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at IG Wealth Management full-time

    Pros

    You are in control of your time. Respectable industry to work in. If you have a bit of luck, meet the right people, stay honest and WORK HARD to deserve them as clients; you will do very well! IG offers a sound structure to use, and products to recommend to clients which can make it easier for new consultants to do good for their clients, hence make a good reputation for themselves. Also, the company is making some positive changes to their business model that is benefiting clients. You also have direct access to all product line specialists. You get a coach "Division Director" that shows you how to do this work from a-z. IG bonuses you out A LOT in the first 4 years to help you built your practice... Also IG has no more DSC.

    OVERALL SOLID STRUCTURE TO MAKE A CAREER w IG Wealth Management

    Cons

    No stability of salary. if you have no assistant, the job is 80% paperwork and data input in IG's inificient IT systems...almost impossible to work paperless with the mandatory client management software used (major con). Also, Contrary to what some review that say that training is great... No, training is horrible, really horrible, much info is outdated - In your first year you will pretty much learn as you go by making mistakes and need to restart paperwork over and over and over... lets just say you get good at paperwork fast after your first year. Many inefficiencies in the workflow (but HO is working on fixing this.) Some, not all, Division Directors are useless - this depends on who you get...

    Advice to Management

    1 - IT, sooo bad in ALL aspects.
    -The intranet (IGadvantage) is a mess - product info and forms needed to be used with clients can sometimes take 15 minutes just to find....
    -Outlook has a 500mb max!!! we live in year 1995?? ... emails should be filed in outlook folders, never ever deleted... this is an easy one to fix as memory is cheap in 2018. upgrade the harddrives on our emails servers, its really not expensive to do...
    - Pathway... a failed attempt to integrate all, just doesn't work... way to much input required, and time consuming... ask any consultant without an assistant how many hours in a day they spend in Pathway... you will be shocked. you already know this - money is not made on that computer screen. Time to let go of Pathway. Naviplan is great, not the pathway integration.
    Our Overall IT structure desperately needs to be reassessed as it has definitely taken the wrong direction with the years.
    2. There is some major inefficiency in our paperwork and workflow... ex look at the paperwork required to open a RESP (excluding grant forms): IG RESP nominee app w PAC = 9 pages including multiple side forms, Mackenzie financial RESP app w PAC = 2 pages total... Lets look at our competitors strength and replicate. specially w the new Mackenzie ownership.
    3. HO keeps pushing changes and extra expenses to consultants.. HO needs to start listening to the consultants on what they need to be successful, not the other way around. A culture change is needed at HO and management as it seems HO has a "tone" that consultants work for them (in a way this is true because of the ownership of clients are at HO) but the reality of the structure is that consultants bring the money, right? So lets boost the existing consultants and be attractive for possible future consultants.

    I apologize in advance for some negativeness, but i said it like it is. I hope it will be read and taken in consideration and maybe useful to bring positive changes for us in the future.


  10. "Regional"

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

    Pros

    flexibility, accountablity, great training and mentorship

    Cons

    not own business, no life balance, min support