© 2020 Arizent. All rights reserved.

Tickets to Lollapalooza? Perks from the best wealth management fintechs

Number of employees at wealth management fintechs

Whether it’s scuba diving trips or company happy hours, employees at this year’s annual Best Fintechs to Work For have much to enjoy.

But it takes more than short-lived perks to keep workers happy, engaged and learning. Indeed, they have higher expectations than ever before, according to Laura Hamill, who conducts research on employee engagement and inclusion at benefits software company Limeade.

Millennials, especially, “are more likely to leave if they don’t feel [their firm is] supporting them,”she says.

Companies on this year’s list successfully communicate long-term strategies, allowing workers to feel secure and engaged. These companies are also open to input from employees, according to a benchmark report by Best Companies Group, an employer assessment firm that collated and analyzed this year’s winners.

Some wealth management and fintech firms stand out because of their investments in diversity and inclusion efforts. The digital bank and robo advisor Ally Financial, for example, is conducting manager-specific training in locations where LGBTQ employees had indicated they did not feel connected, and the company is building stronger relationships with organizations and colleges to identify diverse employee candidates.

Still, fun perks are an important component of this year’s list. Wealth management software company Oranj shortens its work week when the music festival Lollapalooza comes to Chicago, and offers workers VIP tickets for the weekend. CRM provider Redtail invites each employee and their guest on an all-expenses-paid annual team building trip to an exclusive resort.

And time off? Employees at some of these firms get a lot of it. 280 CapMarkets and Facet Wealth give employees unlimited vacation, personal and sick days.

Scroll through to see which wealth management companies landed on this year’s list, and what benefits are particularly prized by their employees:

64_TradePMR.jpg
TradePMR
Location: Gainesville, Florida
Employees: 73
CEO: Robb Baldwin
Business: Brokerage and custodian technology provider
Website: tradepmr.com
Twitter: @TradePMR

Activity to relieve stress/promote fun: Each month, TradePMR hosts free team-building activities for employees, such as cooking classes, escape room challenges or a diving trip to harvest scallops
Fitness/wellness program: The firm offers an annual wellness fair that includes free blood work, chiropractic adjustments, massages and information on healthy eating.

Pictured: TradePMR hosts a lemonade stand to raise money for pediatric cancer research.
8_Ally Financial.jpg
Ally Financial
Location: New York
Employees: 8,546
CEO: Jeffrey Brown
Business: Digital bank and robo advisor
Website: ally.com
Twitter: @allyfinancial

Unique employee benefit: Ally contributes 2% of employee pay to employee retirement plans, whether or not the employee pays into the plan. The company also matches up to 6% of the employee’s contribution (and sometimes an additional 2% depending on business results).
Community service initiative: Through the company’s partnership with the Thurgood Marshall College Fund, employees conduct a Wallet Wise financial literacy session as well as participate in the recruitment fair and awards gala.

Pictured: Ally Financial collaborated with Sean "Big Sean" Anderson and Thurgood Marshall College Fund to create Moguls in the Making, an entrepreneurship competition for students from public HBCUs.
Impact-Oranj-picture-group photo-Best Places to Work-The Bleachers.jpg
Oranj
Location: Chicago
Employees: 45
CEO: David Lyon
Business: Wealth management software provider
Website: runoranj.com
Twitter: @runoranjdotcom

Employee recognition/appreciation program: . Oranj buys each hire a pair of orange shoes of their choice. New employees can pick five vinyl records for the company to add to its collection.
Activity to relieve stress/promote fun: Oranj’s “Wellness Month” offers a variety of activities and challenges. In 2019, the company hired a chair masseuse, and the CTO and CEO cooked employees a pancake breakfast.

Pictured: The Oranj team in "The Bleachers," a communal gathering place in their office where they discuss product updates, new strategies and weekend plans.
1_Advyzon second picture
Advyzon
Location: Chicago
Employees: 27
CEO: Hailin Li
Business: Wealth management customer relationship management software
Website: www.advyzon.com
Twitter: @advyzon

Career development/training program: The company offers tuition reimbursement for advanced or postgraduate degrees and reimburses employees for attending business education workshops and conferences.
Activity to relieve stress/promote fun: There is an office pingpong table, company-hosted happy hours and team outings twice per year.

Pictured: A group of Advyzon employees enjoy a dinner out together.
44_PeerStreet.png
PeerStreet
Location: El Segundo, California
Employees: 193
CEO: Brew Johnson
Business: Alternative investing platform
Website: www.peerstreet.com
Twitter: @PeerStreet

Career development/training program: Selected employees can take part in a a leadership development program, which offers bi-weekly sessions on topics designed to help accelerate their careers and further develop their professional skills.
Family-friendly benefit: The company provides employees with back-up child or elder care if an employee's regular caregiver is unexpectedly unavailable

Pictured: PeerStreet employees at a gym class together before heading into the office in the morning.
21_Facet Wealth.jpg
Facet Wealth
Location: Baltimore
Employees: 116
CEO: Anders Jones
Business: Digital wealth management platform
Website: https://www.facetwealth.com/
Twitter: @FacetWealth

Unique employee benefit: Employees have access to free advice from a company-employed certified financial planner.
Activity to relieve stress/promote fun: Employees can bring their pets to work. Favorite animals include the company’s Chief Barking Officer, named Moo, and a Director of Strategic Vision named Gambit

Pictured: Employees with Moo, the Chief Barking Officer.
1_280 CapMarkets LLC.png
280 CapMarkets
Location: San Francisco
Employees: 58
CEO: Gurinder Ahluwalia
Business: Municipal and corporate bond marketplace for advisors and institutions
Website: 280capmarkets.com
Twitter: @280capmarkets

Fitness/wellness program: The company building offers employees complimentary gym access, yoga classes, a coffee bar and massages.
Employee recognition/appreciation program: Employees have flexible work schedules, as well as unlimited vacation, personal and sick days.


Pictured: 280 CapMarkets' annual summer BBQ at CEO Gurinder Ahluwalia's residence
53_Redtail Technology.jpg
Redtail Technology
Location: Sacramento, California
Employees: 97
CEO: Brian McLaughlin
Business: Software for wealth management CRM
Website: corporate.redtailtechnology.com/
Twitter: @RedtailCRM

Popular with employees: Each employee and a guest is invited to an all-expenses-paid annual team building trip to an exclusive resort.
Community service initiative: Employees receive up to 24 hours of paid time every year to volunteer in any way they choose.

Pictured: Redtail employees attend their annual team-building retreat in 2018 in Austin, Texas.
56_Snappy Kraken.png
Snappy Kraken
Location: Ormond Beach, Floria
Employees: 28
CEO: Robert Sofia
Business: Digital marketing for financial services
Website: www.snappykraken.com
Twitter: @snappykraken

Career development/training program: Employees receive an annual $1,000 education allowance to take classes, learn something new, follow a personal passion or further a skill.
Employee recognition/appreciation program: The company keeps "dreamboards" — vision boards that visually capture each teammate's personal aspirations. Each year, the company commits to financially supporting an employee's dream.

Pictured: The Snappy Kraken team gathers in Clearwter, Fla., for their first client meeting in 2016.
3_ActiFi.png
Actifi
Location: St. Louis Park, Minnesota
Employees: 16
CEO: Spenser Segal
Business: Advisor technology platform for financial services companies
Website: www.actifi.com
Twitter: @Actifi

Fitness/wellness program: An employee leads a meditation once a week for other colleagues.
Employee recognition/appreciation program: Each December, the CEO conducts an end-of-year review with every employee, after which he awards them them a gift card based on years of service as well as position. Throughout the year, employees who demonstrate a stated company value are named in company meetings, awarded a $10 gift card and placed in a drawing for a monthly executive parking spot.


Pictured: The company an employee appreciation event at an escape room.
57_YCharts.jpeg
YCharts
Location: Chicago
Employees: 52
CEO: Sean Brown
Business: Financial data research platform
Website: ycharts.com
Twitter: @ycharts

Activity to relieve stress/promote fun: One or two employees give a presentation on a fun, personal topic on a weekly basis
Popular with employees: The company participates in intramural sports leagues against other tech companies in Chicago, including kickball, soccer, flag football and bowling clubs. Any proceeds go to the local charity, Off the Street Club.

Pictured: YCharts' annual tradition of taking over a section of the bleachers at the Chicago Cubs game.