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Lenox Advisors

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Lenox Advisors reviews

4.3

83% would recommend to a friend

(114 total reviews)
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Greg Large

97% approve of CEO

86% positive business outlook

Lenox Advisors has an employee rating of 4.3 out of 5 stars, based on 114 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The Lenox Advisors employee rating is in line with the average (within 1 standard deviation) for employers within the Insurance industry (3.6 stars).

Reviews by job title

114 reviews
4.0
Sep 8, 2014

Admin Support

Recommend
CEO approval
Business Outlook

Pros

Lenox Advisors is a great company. People are willing to help one another. There is true team work when it comes to getting the job done.

Cons

There is a lot to do at the company and you work hard and need to make sure you manage your time. I don't think that Is different at any other financial services company.

2.0
May 28, 2013

High turnover rate

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Some of the people are very friendly and helpful.

Cons

Pay for position is way below market value - why stay when you can get more elsewhere for the same job? The HR Dept is a mess - lacking and poor communication. Turnover rate is higher than average for our industry - support staff is underpaid and overworked, so no surprise there's low morale.

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Lenox Advisors Response
11y
Thank you for taking the time to provide your feedback. Please reach out to your Lenox manager or anyone in management to provide this feedback as well. It will help our team to improve upon the employee experience at Lenox. We take our employees and the experience they each have with our team very seriously. We’re disappointed to hear your experience at Lenox is poor. We are actively documenting any/all feedback and we are committed to taking the necessary measures to improve Lenox for our employees. In addition to participating in market surveys to ensure our compensation is competitive, we have recently participated in an employee survey facilitated by a nation-wide third-party. While we are pleased with the overall survey results we realize we have some work to do. We are in the process of reviewing the results and creating sound action plans. Thanks again for your time and for your insight.
5.0
Jan 14, 2023
Recommend
CEO approval
Business Outlook

Pros

Having been at other financial service companies, I’ve seen the good, the bad, and the ugly. I couldn't be happier than to have found my way to Lenox. The training program for new associates is the best I've seen - 1) Managers are hands-on and available to assist with associate development, 2) new associates are not required to prospect their natural markets, and 3) a huge emphasis is put on advising clients rather than just making a sale. Culturally, advisors seem to genuinely care about their clients and do honest business. New associates aren't simply thrown in the deep end - there's a well-established, EFFECTIVE business development & client acquisition path. Most importantly, I've been impressed to see how many new associates who put in the work end up making good money and having big paydays in their first year - I haven't seen this at any other firm unless it was a new associate with a wealthy natural network. At Lenox, they actually develop real skills quickly. For experienced advisors like myself who moved to Lenox, the support provided by the company was like night and day. There's always someone easy to reach to help with navigating through processes like compliance, technical support, and case management. Senior management is receptive to feedback about bottlenecks in the process and implementing improvements.

Cons

Generally, financial advising is not a career for everyone. Whether at Lenox or another company, the beginning is very tough - it's a steep trek of long hours and delayed gratification until an advisor's business can sustain itself. Every successful advisor has a similar story about the sacrifices they had to make in the beginning to break through. There will be a lot of rejection in the beginning, tough lessons in self-ownership, and unsteady compensation - feast-or-famine - unless the new advisor really works hard to stay active. Lazy people, as talented or smart as you may be, need not apply. At the end of the day, if your manager is any good, expect a lot of pressure. If, in your first year, you find yourself working 9-5 instead of getting in early to find clients and staying late doing paperwork & prepping for the next day, you (and your manager) are doing something wrong. But a few years in, once revenue is recurring, one can easily have full control over a ~25-30 hr/week schedule with ample compensation.

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Lenox Advisors Response
3y
We are ecstatic to hear how impressed you have been with your experience at Lenox. It reflects our commitment to helping new advisors acquire skills in a supportive and rewarding environment. We pride ourselves on creating an atmosphere of trust and support, and it's incredibly satisfying to know that this is being lived out each day through our advisors. Your appreciation for the hands-on manager involvement and client-centered approach really encourages us to continue such practices. We appreciate your kind words; please let us know if there's anything else we can do to make your experience even better!
Viewing 25 - 27 of 114 Reviews

Glassdoor has 128 Lenox Advisors reviews submitted anonymously by Lenox Advisors employees. Read employee reviews and ratings on Glassdoor to decide if Lenox Advisors is right for you.