MoneyOwl Reviews

Management feels clients advisers (I rather say Sales staff) are undeserving of the lowly and pathetic salary that they are giving. While management is getting “market-based” rates salary that is compared to those with thousands of employees. How sad is that.? Sad to say but sales staffs are poorly compensated in all ways. Low base salary, high sales targets with little to no commission and subjected to clawbacks, no bonus and additional payouts from insurance company. The company takes in all the bonus and incentive payouts from insurers even if sales staffs hit those incentive targets. All this is done silently at the back and telling Sales staff that they are not bringing in enough revenue in every years review. The highest paid in the company are sadly management follow by non- revenue generating staffs. (Completely opposite form how the usual company is operating, it’s like 1 Sales staff trying to support 5 - 10 person’s salary) Management has no experience managing an insurance firm or financial advisory firm therefore all they see are numbers, totally disconnected from staff from the ground. Not willing to their hands dirty as all these all too entry level for them. Not willing to take in ideas from client facing staffs and all decisions are top down. Good(and smart) people had mostly left for better prospects. With major staff movements in the company, management does not do anything and do not care. In the past year, almost half the company staffs (not limited to Sales staff) had left the company. Pity the clients of moneyowl who had to receive 4 changes of client adviser notice within 1 year. Most Sales staff there are less than 1 year in the company and that is a good indication. Expect more worse things to happen.. It’s used to be social enterprise, but now it’s just a really nice packaging company to sell insurance plans to you.