MD Financial Reviews

Long hours, with no overtime. And pay was about as minimal as possible. They got somewhat pushy with trying to get clients to get insurance. No medical benefits whatsoever, or any retirement plan when I worked there. Katherine can be very frustrating to deal with. That is somewhat to be expected with a successful advisor. But simple technology things she can't handle like how to turn on her computer or a printer. Employee turnover was really high. There was never more than about 5 or 6 people working there in the year I was there, but 9 different people quit in about 12 months, almost all of whom were CSM's. They liked to pump up the long term prospects of the company, but Peter (the CEO) and Katherine (the top advisor) are in their 60s. They claim they will work another 20 years, but anything can happen. The torch will then pass to Josh, but beyond that there are still a lot of questions about how the company will stay running. Josh has worked himself to death to keep the company running as it is, and he had been there longer than anyone. It didn't make me want to keep working there because it seemed like Josh was miserable and really stressed out a lot of the time. If something were to happen to Katherine, Josh, or Peter, the whole operation will come crashing down. As positively as they talk about themselves and their current employees, they can act extremely unprofessionally at times. One female employee I worked with was constantly asked if she was pregnant, when she was not. When I took a higher paying job elsewhere, I put my two weeks notice in and was subsequently told by Peter I was going to regret that decision for the rest of my life and that I was committing career suicide.

Employees are overworked and underpaid. It is not explicitly asked that you need to stay later than 5pm, but often times the workload requires it. Almost routinely, CSM's need to work until about 6 or 6:30, and on rare occasions, beyond that. The work gets so backed up due to lack of capacity that it is also somewhat common for employees to come in on weekends. There is no overtime pay for any of this. It is a jovial work environment, but the work itself can be very stressful. Employee turnover is very high. They offer no significant benefits to employees. There are substantial bottlenecks in their business model, such as the fact that more than half of their clients live in Rhode Island, but the office where everyone works is in Minnesota. They have to fly an adviser (Katherine) out there every other week to meet with the majority of their clients.