Newport Retirement Services
3.1 out of 5 stars.
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Newport Retirement Services Employee Reviews

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3.1Work-Life Balance

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Featured review

Newport Retirement Services selected this as a representative review
Really Enjoyed working here . Great place to work.Loved co workers and clients. Work life balance was great. I would recommend to a friend to work here
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Official response from Newport Retirement Services

August 30, 2021
Thank you for sharing . There are real opportunities to progress and learn new skills.

Horrible company to work for.

Newport purchased the department we were in from a large financial institution. They had zero knowledge of the book of business they were acquiring. The system they use is ill-equipped to record keep the plans we handle. Our staff has been reduced by almost half of what it started as in less that 12 months. And nobody is being replaced. Leaving the workload to those that haven't left yet. It doesn't seem to matter to management this is happening. The excuse is just that talent is hard to come by. A couple people that were hired lasted less than six months and quit because of the stress level. In addition to staff, clients have been leaving as well. Seeing that Newport cannot provide the service they were accustomed to.

Pros

Remote work.

Cons

Poor leadership. Inadequate system. Operations staff that think they drive the company.
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Official response from Newport Retirement Services

September 13, 2021
Newport is a leading independent retirement services provider and trusted partner in delivering comprehensive financial wellness solutions and expertise that best fit our customer’s needs. PLANSPONSOR magazine has ranked Newport as the nation’s fastest growing defined contribution recordkeeper, as well as one of the industry’s largest retirement services providers. In the magazine’s most recent annual “Recordkeeping Survey”, Newport was ranked a Top 10 provider for total retirement plans under management out of the 54 companies featured in the latest survey.

Small Company with Big Expectations

A lot of big initiatives underway - expansions that have Newport busting at the seams, with not enough people to manage the new business. This leaves current workers with a heavy burden to carry, and turnover that increases their capacity exponentially - churn and burn

Pros

The people

Cons

Low 401(k) match, no profit sharing, attrition
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It can be okay if you use it as a stepping stone but longevity isn't encouraged

You get health insurance, vision, dental, 401k with a 3% match, pretty generous paid time off and a week of sick time. The vesting schedule for their 401k is 3 years, but don't expect to last that long. Proceed with caution.You are given a rough idea of what you need to learn with a rough timeline of when you need to learn it. The problem with that is even though it's somewhat laid out for you, no one actually wants to take the time to provide any input or training. There are a small handful that do, but the majority will have you sitting there for hours with no idea what's going on and won't think twice about it. Not an exaggeration.There is absolutely zero accountability. Most people will push their issue onto the next person, or they purposely avoid certain tasks. Instead of it being addressed by management, the same few people are forced to pick up the slack and put in more time to get everything done.Performance doesn't matter, goals don't matter, and neither of these things will result in additional compensation. You can learn your job inside and out, prove you're an asset with accomplishments to back it up, and still be stuck making the same low wages as everyone else. Whether you're the best or the worst, you will make the same pay. Expect your raises to be 2% or less, anything more is unheard of. The culture is abysmal at best. Upper management has gone so far as to say "We want results not back and forth" as an insult. They don't care about you or your well-being, the clients and their satisfaction are the only thing that matters.Overtime is close to mandatory - 

Pros

Pto, Sick Time, Insurance, 401k Matching

Cons

Unrealistic Expectations, Lack of Communication, Teamwork is Non-existent, Zero Morale, Upper Management
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Too small, not great training

Expected to train self, the team feels semi-disconnected, not great environment, expected to do 60 hours per week, not a great place to work but challenging enough. Not investment-related, more plan set up, adequate responsibility.

Pros

pay isn't bad, retirement acumen increased

Cons

poor operations
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Your Time is Better Spent Elsewhere

I'll admit, I was thrilled when I got a call from Newport Group and they extended an offer to me. After a quick salary negotiation, I was ready to get started. Massive change to middle and upper management happened right after I started, however. The tools for working are subpar at best and should you want to get trained in those tools, there is no training funds until after a year of work. Training was so bad in fact, management instituted a book club instead of paying for folks to take certified training. Coming from a large, bloated financial institution, I was thrilled to be working at a smaller company because I hoped culture and the dynamic between management and staff would be different. I was incredibly mistaken. It was far worse. Because of the massive change, I found myself in a position of solidarity. The new person who needed to know everything about the company in just week and be the singular person to provide support to multiple teams. While speaking with my manager at the time discussing the roadblocks I was having and how my role would change based on upcoming changes, they pulled up my job description and asked "is this not what you signed up for?" Pretty rude, but sure, I can take it. Then I had a series of family emergencies and needed time off which prompted a meeting with my manager and HR where I was repeatedly insulted for poor work ethic and not being able to handle a familial emergency and still work. HR did not come to my defense once, so I left the company after that phone call.

Pros

Office Location

Cons

Management, Hr, Benefits, Respect
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Operations specialist

OverallI loved this job I never would have left if I would have the opportunity to work from home. I had to travel to work which was my choice but as time went on being away from my kids took a toll.
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Poor management and too much he said she said

Managers were more concerned with keeping up with office gossip than helping employees succeed. Pay was low for amount of work expected and benefits were nothing exceptional.
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Opportunity to Grow!

Amazing Company!! Everyone is inclusive! They help you grow with in the company. Pay could be better but they offer OT which I just put the HrS and I get a decent pay check! Work is very fast paced. Always learning something new! Great work environment! They take care of there Reps!! Management is Fabulous!

Pros

Fun activities, 401k Matching, opportunity to grow
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If you care for yourself, don't work here.

No real training.You’re treated as a programable bot expected to do new things without training.They had a team lead who doesn’t have a clue about the retirement industry who rely on his people he’s supposed to leading to do his job. No growth, although I was promoted with a very small pay bump with the responsibility of a trainer/team leader without the actual title. This is the farthest you can go here.The Manager of the Participant Services Center has been known to smile in your face and show a different face to others in your absence. They place you in every queue during enrollment season getting up to 100 or more calls a day. The burn out is real here.Things change every day due to management incompetence.Turn over is high and they overwork the employees who are left behind.

Pros

Friday snack cart

Cons

Management, overall company values
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Poor management.

Lack of trust. Poor management. Feedback provided of lack of procedures. Controls and training. Nothing done. Would not recommend the culture or the environment at Newport Group.
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Good company to work for

Great people and lots of resources to learn more about the industry. Relaxed environment yet professional. Good management and great people to work with.
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Poor

Bad support and supervision wouldn’t recommend working there unless they changed their view and value on work talent and paid better for the experience one brings
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Great Work Culture

Great place to work. Room for growth. Strict Attendance policy. People are generally friendly. The office is is big on employee engagement. Some growing pains with expansion.
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Profit more important than employees

The company puts the desire for profit above the happiness and wellbeing for the employees. They are constantly overwork and underappreciated. The people at Newport are good overall, but the management in the office pushes employees too much.

Pros

coworkers

Cons

long hours and stress
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Average

Average management style. Adequate working environment. Medium workload. Some overtime required. Average benefits. Workplace culture in transition.
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Great for experience.

Good for experience but promotions and increases are few. Learn as you go with minimal management support. Only have meetings when something is wrong.

Pros

Experience

Cons

Lack of training, pay
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Official response from Newport Retirement Services

February 20, 2020
Our people and the development or our people is important to us. In 2019 we promoted 143 people internally. In 2019 we supported 61 people pursuing professional credentials with another 16 taking advantage of our continuing education reimbursement. 355 learners participated in live training sessions with over 7,500 courses completed through our learning portal. We support an ongoing feedback culture with monthly one on ones, quarterly check-ins and annual skip level discussions with your managers manager. We share information via our intranet, our monthly newsletter and quarterly all hands meetings led by our CEO. Our environment is fast paced and change is something we embrace and this provides opportunity for people to get involved in new things and grow on the job.

Horrible Place to Work

We were treated poorly. Do not work there. They didnt care about their employees. Just say no to this employer. Everyone I worked with at this place no longer works there. They won't promote within.
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Official response from Newport Retirement Services

February 11, 2020
Newport takes pride in adhering to our five core values – Accountability; Client Focus: Collaboration; Knowledge and Integrity. Integrity means that we treat colleagues, clients, partners and vendors with honesty, fairness and respect. Through our actions, we build trust. Newport supports the development of our people. During 2019 we promoted 143 people to new roles internally and within the last six months of 2019, five members of the customer service team were promoted.

Corporate atmosphere

They place way to much work for the rate of pay you are getting. Almost all year you are required to work overtime without exception. Very unorganized and always changing how to do your work, once.you get it down it changes and you have constantly learned new procedures. Definitely a corporate atmosphere, not like a home environment.
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Official response from Newport Retirement Services

December 23, 2019
Newport is a fast paced organization that continues to grow. With growth comes change as we adapt processes to be more effective in our evolving structure. Compliance work does have key busy periods where overtime will be required. Outside of these busy periods a normal work week can be expected.

Terrible! Do Not Apply

Management is the absolute worst. They only communicate with you when you make a mistake. Other than that everyone is stuck in a cubicle glued to their chairs all day. They do not provide adequate training and expect for you to learn processes on your own. For the entire 2 and a half years of my employment the job description has changed almost every six months. By the way, the job description that’s on indeed is most definitely not what you will be doing. The pay is terrible and is not enough for the amount of work that you are required to do. There is no room for growth and advancement at all. Please don’t even waste your time and apply. Trust me there’s plenty of better jobs out there.
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Official response from Newport Retirement Services

December 23, 2019
Newport has a communication and feedback structure of monthly one on one meetings with your manager supported by quarterly check-ins and an annual skip level program. Internal growth and development is important and in 2019 we had 143 people who moved to new roles within the organization and 5 employees who left for other jobs and then returned to Newport.

Great management

The management team is experienced and helpful. The typical day was managing the daily trade volume for assigned plans. Led the team of database enhancements.
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Overall rating

3.1

Based on 96 reviews
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Ratings by category

3.1Work/Life Balance
3.0Compensation/Benefits
2.8Job Security/Advancement
2.8Management
2.9Culture

Ratings from women

3.0
InHerSight Score
2.4Personal Development
3.1Career Opportunities
3.7Family Support
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