Templeton Sucks Customer Reviews and Feedback
Franklin Resources Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson, Sr. In 1973 the company's headquarters moved from New York to San Mateo, California. As of December 31, 2019, Franklin Templeton held US$698 billion in assets under management (AUM) on behalf of private, professional, and institutional investors.
Back in February 2004 MARKET WATCH reported in the following piece written by Jonathan Burton that Franklin Templeton was accused of securities fraud:
SAN FRANCISCO (CBS.MW) -- Massachusetts regulators Wednesday accused mutual-fund giant Franklin Resources of allowing a wealthy client to make short-term trades in Franklin-Templeton funds in return for a $10 million investment in a Franklin hedge fund. The civil fraud suit alleges that former Franklin senior vice president William Post, who resigned from the San Mateo, Calif.-based firm in December, struck a deal with Las Vegas investor Daniel Calugar that permitted frequent "market-timing" trades in Franklin stock funds. The complaint is the first against Franklin BEN, +0.23%, the fourth-largest U.S. fund company, which is also under investigation by the Securities and Exchange Commission and state regulators in California and New York. Through this special relationship, Calugar traded the Franklin Small-Mid Cap Growth fund FRSGX, -0.07%, and the Franklin Templeton Strategic Growth fund, a private limited partnership, regulators said. The arrangement violated the funds' prospectuses barring market timing, the complaint charges. "Franklin Templeton engaged in a very offensive agreement where they allowed a high roller to market-time in return for a distinct quid pro quo," Massachusetts Secretary of the Commonwealth William Galvin told CBS MarketWatch. "It's quite outrageous," Galvin added. "They were trading the rights to basically raid the fund in return for compensation." Massachusetts officials are seeking an undetermined amount of financial penalties and the return of ill-gotten profits to shareholders. Market timing isn't necessarily illegal but can hurt long-term fund shareholders. Such frequent buying and selling can be fraudulent if a fund company prohibits the practice but allows selected customers and employees to engage in it. Franklin officials were not available for comment. In a statement, the company said the charges concern "three round-trip investments made by a single investor" in the Franklin Small-Mid Cap Growth Fund. "Franklin Resources' first priority is to protect the best interests of our funds' shareholders and our clients, and we are confident that none of them was harmed by these investments," the company statement added. "Our policy is to work closely with regulators to deal swiftly with any issue such as this, and we are committed to working with Massachusetts regulators to resolve this situation in the best interests of our investors," it said. The accusations could lead investment research firm Morningstar to steer fund investors away from Franklin, analyst Dan Culloton said. Whether Morningstar warns investors away from Franklin, as it has done with several other scandalized fund companies, depends on how the company responds to this latest development, he said. "They haven't been forthcoming about this issue," Culloton added. In trading Wednesday, Franklin shares lost 91 cents, or 1.6 percent, to close at $56.65.
says"You’re interning over and over. No placement they just pretend there will be"
Former Employee - Finance says"Too many executives walking around here making 7 and 8 figures per year do not care about the regular hard working employees who really needs their jobs. You only get paid 7.5 hours and not a full 8 hours/day like all other companies. Extremely low yearly bonuses and low yearly increases for the regular individual contributor. Executives and a Managers receive generous bonuses and raises. Confusing yearly review system"
Current Employee - Product Specialist says"There is no culture of innovation, risk taking is strongly discouraged, highly bureaucratic tenure based culture."
Current Employee - Anonymous Employee says"Pay is 15% lower than competitors on average. Disputing saying they value work/life balance, they do not. They’re very cheap with vacation time. And shame you for taking time off. Even sick time."
Former Employee - Vice President says"Doesn't have products to effectively compete in the market place. New efforts in smart beta are a joke. Leadership is rudderless and told employees, "Just to be clear, I have no vision". Sr mgt is old boys club and does what they want. Wouldn't want my worst enemy working here"
Former Employee - Anonymous Employee says"Terrible department leadership No opportunities for growth Negative environment"
Current Employee - Anonymous Employee says"Company is technologically behind. Silos of business and technology teams. Management does not cooperate with each other- they are divided. No clear technology blueprint for teams to use in making decisions on projects. Management avoids making decisions and pushes responsibility down to the lower levels. There is a lot of the blame game going on. Very high stress. Top heavy with management personnel and not enough resources to actually get the work done. No career path. Management has their favorites in management and those are the ones getting the promotions and the money while the workers remain stagnant. Management is not supportive and does not mentor the team members. Management wants to keep the knowledge and control in order to suppress the workers and not risk their position of control. Very toxic environment where people become beaten down and demotivated."
Supervisor says"If you want to work with a company for over 8 years and think they would have your back to move on to new positions, don't look here. They provide promotions with no new training. They promote to upper management, those who are not qualified. They have unreasonable expectations for the newly hired employees and that those in upper management aren't capable of meeting. What year do we live in that people get timed for bathroom breaks?"
Former Employee - IT Department says"If you're interested in being at the leading edge of modern Silicon Valley technology, this is a great place to hone your Microsoft Powerpoint skills. Be prepared to have critical, multi-million dollar decisions put on indefinite hold because the CTO isn't happy with a font or color you selected in one of your Microsoft Powerpoint presentations."
Former Employee - Anonymous Employee says"1. Micromanagement (extremely control freaks) 2. Threatening employees 3. Poor resource planning 4. Bait and switch (no one ever get the bonus as promised, many performance did not even "met" the "expectation") 5. 401K is an illusion. Unless you have 5 years with the company, when rolling over 401K, the match is $0 even you already had one year. The company contribution is not real. 6. Very high turnover rate (either you are very senior people with company for years, most new employees left that department in a short few months to 2 years. In my department, it is about 50% between 2014 and 5015. 7. Training is out of pocket for everything 8. Favoritism is a given from management 9. Your managers are really your own road blockers and back stabbers (they did this to many their own staff)"
Bond Trader - Order Operations (Former Employee) says"The finance industry is very tough and you must have the drive to stay in it. I traded with the most prestigious companies in new York City - but this job is for the youth and not an old gringo like myself.NoneCut-throat"
Solution Center Analyst (Former Employee) says"On a busy day they cut your lunch hours, and walk around handing out snack size bags of Doritos as if your in elementary school, truly a great moral booster, woo-hoo!!! You have to raise your hand to go to the bathroom, and if you go too often, they will approach you.They also don't want you to tell customers that they do business with India. Such an unethical company."
Program Manager (Former Employee) says"Worked there a short time. Dysfunctional management. No Constancy in direction.good payinconstant"
Vice President (Former Employee) says"The lack of integrity of the two heads of the Real Estate division in New York is shocking. It's easy to see why investors invest once and only once with them. If they happen to read this, here is some advice: - Start treating everyone, including your own employees, with respect and fairness. - Stop looking people in the eye and lying to them. - Start being more transparent. - Stop leading external managers on, then ghosting them, then telling them you aren't interested weeks later. - Don't start random arguments with people just because you enjoy arguing. - Stop insulting employees in front of other colleagues.Free coffee (not good though), Free use of toilets (but they are too small), Free use of keyboard and mouse (that seem like they were made in 1994)Extreme micro-management, No transparency, Lack of integrity"
Analyst (Former Employee) says"Might be an OK place to end your career, but not a great place to start it and even worse if you are mid-career. Competitive work environment among teams, with no incentive to collaborate. Upper management within some divisions doesn't know what transparency is. Having a hard time raising money because they don't treat their own investors well. A lot of the best employees got fed up and left.Working hour aren't horriblePay is lower than other companies, No team work"
Operations Associate/Research Clerk (Former Employee) says"A typical day involves research and customer service. There was always more to learn about the shareholder's statements."
N/A (Current Employee) says"Franklin Templeton offers a slow-paced work environment which allows for a good work/life balance for those with commitments outside of work. Things stay status-quo and it's especially hard to create change in the culture. Innovation is not valued or practiced. Very conservative."
Major Incident Manager / Infrastructure Analyst (Former Employee) says"I enjoyed my time at Franklin Templeton. The vacation days and sick days were more than I was able to use. Management was pleasant to work with. Over all it was great.Medical \ DentalCant work from home"
Futures Associate (Current Employee) says"Franklin is a slow paced environment providing job security and a lack of growth. The company is primarily focused on active investment which is slowly declining. The company is not handling the changing environment and acts like a dinosaur. Despite being in Silicon Valley it is about as far away from the culture as a company can possibly be.free parking, decent campus, friendly peopleUnfair compensation, dying industry"
Data Analytics Intern (Former Employee) says"This company is terrible. Bad pay and everyone here just stares at the clock until it is time to go home. If you want to hate your job and work with others who hate theirs then this is a good place."
Sr. TA Retirement Specialist/Team Lead (Current Employee) says"I worked for Franklin Templeton for over 10 years in the TA. Over the years the moral has gone down. It is now a revolving door and no one is happy. The Managers and Supervisors don't promote you unless you are apart of their click. They don't give the tenured employees who have been there through all the ups and downs a chance to move up unless you are a favorite. The pay scale is on the lower end for the industry and they are hiring people with less no skills at all and expect the tenured to train them. in the past 3 years the average a person stays is 1 year. Advice to Management listen to the concerns of their employees who have been there at least years.Good Benefitsclicks among management; favortism, micro manage; pay is on lower end of the scale for this industry"
Facilities Clerk (Former Employee) says"Benefits are good, 401k is the the best can't bet that. work life balance needs to improve along with alot of things there, People there have a self entitlement attitude and the higher ups look down on you, Very stressful environment"
Senior Business Analyst (Former Employee) says"A very tough place to work. Always there is a spy from the management to monitor the work. No freedom to interact with co-workers. Always need to stretch."
Autonomy Interwoven Business Analyst (Former Employee) says"People are not very nice, Sr. Management plays favorites. Culture is very cutthroat...NoneConstant Turnover"
Associate Relationship Manager - Fund Accounting - Operations (Current Employee) says"This is a good company and brand to work for but the culture is biased. While the people have remained for years but the method of teaching and training for new comers especially from a different industry is poor."
Business Analyst (Former Employee) says"I was not given enough training/direction to do my job properly. Management did not seem to know what the parts of management was doing and what assignments/ tasks were given out.Coworkers were very niceManagement Team"
Global Financial Reporting Analyst (Current Employee) says"work life balance typical day at work what you learned the most enjoyable part of the job good co workers learned management"
Compliance Analyst (Former Employee) says"I will say that I learned a lot about the securities industry. I met a lot of smart and genuine people. However, I cannot say the same about the management of my former team. There is a lot of bureaucracy and a lot of big egos. They don't seem to care about their subordinates.Not a place for a great work/life balance"
Product Research Analyst (Former Employee) says"I admired company's disciplined and conservative approach to their business."
Customer Service (Former Employee) says"NIce place and nice people. I was only a temp employee so I dont have much of an review."
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In The News
KEYT reports"Firefighters battle brush fire in harsh conditions west of Templeton - NewsChannel 3-12"
Cal Coast News reports"Templeton man suffers major injuries in crash in Atascadero"
The Atascadero News reports"Templeton Man Suffers Major Injuries in Motorcycle Crash • Atascadero News"
KSBY San Luis Obispo News reports"Smoke from Whale Fire causing poor air quality for Paso Robles, Templeton, and Atascadero areas"