Pros
Salaries are within industry norms. The company’s benefits have slowly improved. A somewhat increased effort to foster employee volunteerism appears promising. Depending on the manager, your hours can be flexible. The company’s current owner, Genstar Capital, appears to be placing in motion it’s plan to improve profitability and competitive strength.
Cons
A challenged company, “Cetera” has slogged through name changes, multiple ownership changes, a bankruptcy and is currently positioned within a private equity portfolio, likely to be jettisoned to a new owner in a few years once revenue and efficiency targets are met. Highly leveraged (approx. 50%) with debt that’s currently rated “junk” by a major rating agency, the company has a long way to go before management can focus on employees and advisors instead of just the bottom line. As a result of its tumultuous history and mismatched broker-dealers, the company is a rag-tag group of business units that have never really known where they are going or why. As for working for the company, you’ll do well if you can break into the clique of favoritism. You’ll have friends, assignments will be fairly pleasant and reasonable, and you might even get promoted. If you’re unable or unwilling to play “the favorites game,” you’ll be tolerated while leaders figure out a way to manage you out. Fall somewhere in the middle and your experience won’t be hellish, but it won’t be spectacular, either. If you like mediocrity, Cetera is your kind of place. Technology has always been behind the times, but the job gets done. It simply takes twice as long. Promises of new technology have been made and it appears that some systems may get the upgrades they’ve needed for years. Some recent upgrades to HR systems are welcome, with the exception of a third-party performance management system that can only be described as a first-class disaster.