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Shadforth Financial Group

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Shadforth Financial Group Reviews

3.1

37% would recommend to a friend

(36 total reviews)

30% positive business outlook

Shadforth Financial Group has an employee rating of 3.1 out of 5 stars, based on 36 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Shadforth Financial Group employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

36 reviews
1.0
20 Aug 2018

Toxic culture with no reward

Recommend
CEO approval
Business outlook

Pros

- Well educated staff members, a much higher level of education in comparison to other firms.

Cons

- Pays significantly below the market rate, no reward for additional experience or qualifications. - Toxic culture where management are forced to bow down to the demands of the advisers, who bring in the revenue, and IOOF. - No overtime pay or time in lieu, incredibly inflexible and a poor choice for a professional female. This is also relevant for women hoping to become advisers. You will note a massive gap between the number of male and female advisers, this is because of how inflexible they are when it comes to working hours, and the fact they will favour males for promotions to advisers. Time off for maternity leave puts you at the 'bottom of the queue'. - Continually changing and conflicting policies and procedures as the company struggles while trying to nationalise and follow IOOF's requirements. - Vertical integration is becoming an increasingly bigger issue with the firm. - Higher fees compared to other firms means they are struggling to compete and do not have great prospects for long term growth. - Toxic culture, where unhealthy work/life balance is rewarded.

1.0
1 June 2018
Recommend
CEO approval
Business outlook

Pros

Great people to work with, great team.

Cons

Processes are almost never followed because everyone has their own way of doing things. Management is in denial about the pay. High staff turnover and recruitment takes a long time which means current staff always suffer with heavy workload. Minimal pay, minimal bonus if any and virtually no benefits.

1.0
21 July 2016
Recommend
CEO approval
Business outlook

Pros

1. big company 2. asx listed 3. you are generally given clients to work with so you don't need to generate your own clients initially although you are paid substantially less as a minder

Cons

1. the major focus is on supporting the in house strategic trusts which they own and control. That is basically the only investment solution you can offer clients . 2. management is very much in it for themselves and not focussed on advancing any staff that are a threat to them. It is a very political organisation. 3. the goalposts are always changing as like any business it is the shareholder return that they are after which conflicts the interests of the client with the business. 4. the renumeration fell substantially during my time at sfg, with my salary dropping 30% as they were always looking for ways to cut into the advisers portion. for example they had a renumeration scheme where you were paid 50% for revenue in year one with it cascading down so you would only get paid 10% of the revenue for clients in year 5. This meant that clients were often ignored in the later years despite them paying the same fee as year 1. 5. no equity scheme 6. All of the key business drivers and A grade players who helped build the business up to 2010 have now left and you have mainly B grade servicing minders in the business. 7. The monitor email traffic beware

Viewing 1 - 3 of 36 Reviews

Glassdoor has 36 Shadforth Financial Group reviews submitted anonymously by Shadforth Financial Group employees. Read employee reviews and ratings on Glassdoor to decide if Shadforth Financial Group is right for you.