No organisation, bad management, playground culture
Investment Administrator (Former Employee) – Southampton – 10 April 2019
I had high hopes for Quilter (formerly Old Mutual Wealth) as I know several mid to senior-level people there who spoke highly of it. I was very overqualified for the role I applied for and disappointed with the salary offer (£17,000 with a potential 10% bonus) but thought the training and progress would make it worthwhile. I was very wrong.
I was placed into a different role than that which I applied for due to the separation of the parts of OMW (a process called Project Oval) being cancelled. Not only that but the state of chaos was immediately obvious. My manager didn't introduce me to the team and booked and cancelled my training several times. It later became clear that most of the managers there were promoted due to who their friends were rather than ability.
The work was mind-numbingly boring and many of my team were openly frustrated and sad at the state of the place. People who had been in the job a couple of years were paid approx £5k more than me. I don't know if Quilter expects to keep new employees but paying them terribly can't help. Maybe they have enough disposable hires from the two local universities.
One team member told me they prefer to churn through lots of fixed term young hires and used to have surprise annual culls of staff where they took them all into a hall for a 'chat' and then told them they were no longer needed.
I complained about my lack of training but the manager not respond in any constructive way. There was an entrenched clique in my team around the manager and I was clearly never going to be part of it.
Total chaos. Poor pay and progression.